London & Cambridge Properties has paid £4.3m for its first investment purchase in Scotland – a parade of 11 shops with 22,000 sq ft of offices above at Bridge Street, Inverness.
The property, originally developed by Land Securities in 1967, was sold by a client of Webster & Co and shows LCP a net initial yield of 11%.
Retail tenants include Poundstretchers, Edinburgh Woollen Mill and Dunfermline Building Society, while the DOE and the local tourist board occupy the offices. Total income is £500,000 pa.
