14, 16, 20A & 20B Tulloch Street, Dingwall, Ross-Shire, IV15 9JZ

Description

Portfolio comprising 14, 16 and 20A & 20B Tulloch Street, offering three fully tenanted commercial investments in a prominent position in Dingwall town centre. The portfolio includes a tanning salon, hot food restaurant, laser clinic and computer repair company.

Accommodation

14 Tulloch Street: commercial premises occupied by Sirena Sun tanning salon. 16 Tulloch Street: ground-floor hot food restaurant with kitchen on the first floor and customer WC on the landing. 20A and 20B Tulloch Street: two self-contained ground-floor commercial units.

Location

Prominent position on Tulloch Street, Dingwall's main retail thoroughfare, with strong pedestrian and vehicular traffic. Dingwall is the administrative and commercial hub for the Highlands north of Inverness, with transport links via the A9, A835 and Dingwall railway station.

Tenure / Property Information

Investment Analysis

The £250,000 guide equates to the supplied auctioneer-stated current yield of 8.3%, but the underlying passing rent has not been provided and the yield cannot be independently recalculated. Potential rents of £10,000 per annum for 14 Tulloch Street and £12,000 combined for 20A and 20B are estimates only and exclude 16 Tulloch Street. No completed sales, external rental comparables or formal valuation evidence is supplied. The stated potential yield of nearly 12% depends on rent reviews and asset management and is not independently supported.

Investment Snapshot

Strategy Recommendation

Consider only as a commercial income hold after reviewing the legal pack and confirming passing rents, tenant covenants, lease terms, rent-review position and all buyer/additional fees. Do not rely on the stated 8.3% or nearly 12% yields without verification.

Works Required

No physical refurbishment works are evidenced. The relevant asset-management actions are verification of passing rents, review of lease documentation and consideration of the outstanding rent review at 16 Tulloch Street, subject to the legal pack.

Rental & Market Context

Potential BRRR Position

A BRRR assessment is not supportable from the evidence. There is no GDV, refurbishment budget, finance cost, or complete rental schedule. Refinancing would also depend on verified commercial income, lease quality and lender treatment of the four occupied units.

Buy-to-Let Analysis

This is a fully tenanted commercial portfolio rather than a standard residential BTL. The auctioneer states an 8.3% yield at the £250,000 guide, but the passing rent and the rent for 16 Tulloch Street are not supplied, so the yield cannot be independently established. Potential rents for 14 and 20A/20B total £22,000 per annum, but this is not a complete portfolio rent and is only an estimate.

Flip Analysis

A flip strategy is not supported. No resale comparables, GDV, refurbishment requirement or selling-cost allowance is supplied. The property is presented as an income-producing, fully tenanted commercial portfolio, making income retention more relevant than resale speculation.

Investor Risks & Due Diligence

• Buyer’s Premium is payable but its amount is unspecified.

• Additional fees may apply under the Articles of Roup or Special Conditions.

• The passing rent for the portfolio is not supplied, preventing independent yield calculation.

• 16 Tulloch Street has an outstanding rent review, with the current lease ending in June 2028.

• 20A Tulloch Street is held on annual extensions and 20B Tulloch Street is on tacit.

• The stated potential rents are auctioneer estimates rather than achieved or independently evidenced rents.

• No EPC, heating, council tax or other property-operating information is supplied.

Recommendation

Consider only as a commercial income hold after reviewing the legal pack and confirming passing rents, tenant covenants, lease terms, rent-review position and all buyer/additional fees. Do not rely on the stated 8.3% or nearly 12% yields without verification.

Strategy Rating

Analysis Confidence

The guide price, occupancy, unit uses, selected lease information and partial auctioneer rent estimates are supplied, but passing rents, the rent for 16 Tulloch Street, tenure, valuation evidence, comparables, buyer premium and other costs are missing.