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Location
The property occupies a prominent position on Batchen Street, a busy commercial location in the heart of Elgin. The area is characterised by a mix of quality independent retailers and well-known national brands, with residential or commercial uses above street level. Public car parks and on-street parking are available nearby.
Batchen Street is set to benefit from the planned reintroduction of pedestrianisation, enhancing footfall and the shopping environment. Elgin itself is an historic and thriving market town with a population of around 24,000, attracting visitors year-round for its retail offer, distilleries, castles, golf courses and surrounding scenic attractions.
The town enjoys excellent transport connectivity via road, rail, and bus, with Inverness (38 miles) and Aberdeen (64 miles) both within easy reach and offering national and international flights.
Description
The property comprises a traditional sandstone and slate mid-terrace building with large street frontage and full-height display windows, providing excellent visibility and natural light.
Internally, the accommodation has been recently refurbished to the tenant’s corporate standard, offering an attractive and contemporary retail environment, including open-plan sales space, partitioned areas to the rear, staff facilities, storage, and WCs.
The total floor area is approximately 99 sq m (1,066 sq ft), with rear fire escape access.
Investment Summary
An outstanding opportunity to acquire a well-presented retail unit in the heart of Elgin, currently let to Ramsdens, a long-established and trusted UK financial services and retail group, providing foreign currency exchange, pawnbroking, precious metals buying and selling, and retail of new and pre-owned jewellery and watches.
The property is let on a 10-year, fully repairing and insuring lease at an annual rent of £20,000, offering a secure income stream from a nationally recognised operator with a strong local presence and recently refurbished premises. Ramsdens have demonstrated a long-standing commitment to Elgin and the surrounding area.
The tenant has a 12 month option to break the lease however they are committed to Elgin having been long established in the town and invested heavily to find and refurbish new premises.
