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Double windowed retail investment
Excellent investor opportunity
Situated in the heart of a popular Borders town
Potential for development of the yard, subject to planning
The historical Royal Burgh of Jedburgh lies 10 miles north of the border with England and is 35 miles east of Berwick-upon-Tweed. Lying just off the A68, it is ideal for a commuter with numerous other Borders towns in close proximity such as Hawick and Kelso. Edinburgh, meanwhile, is 50 miles north west and the nearest Border railway stop is 25 minutes away.
The town itself is justifiably known as the ‘Jewel of the Borders’ and has a great community spirit with a variety of independent shops, restaurants, cafes and leisure facilities. There are also two primary schools and a High School.
The property is situated in the centre of town on the north side of Canongate. The street leads up to Castle Gate and the High Street. There is plenty of free on street parking outside the property.
The subjects comprise a ground floor retail unit with rear yard area and stores forming part of a mid-terrace, stone built, c-listed, three storey property.
The subjects benefit from a double window frontage and are currently used a hardware store selling a vast range of products. The retail area is wide to the front of the shop but narrows as you progress to the rear. The yard area to the rear, formerly the town’s blacksmith, can be accessed both internally and externally via a secure pend. It offers scope for development subject to obtaining the necessary planning permissions.
According to our recent measurement survey the subjects comprise the following approximate areas:
54.9 sq m (591 sq ft) nia
The subjects are currently let to Surayya Aslam t/a Jed Hardware on a three-year lease effective from 1st May 2012. We understand the lease is currently subsisting on a month-to-month basis at a passing rent of £3,640 per annum (£70 per week). A copy of the lease can be provided to parties who have conducted a viewing of the property.
Our client is seeking offers of £70,000 for the heritable interest in the subjects.
According to the Scottish Assessor’s website the subjects have a Rateable Value of £4050. The uniform business rate for the current year is £0.484 pence in the pound. For properties with a Rateable Value of £15,000 and under occupiers may be eligible for 100% rates relief through the Small Business Bonus Scheme, depending on individual circumstances.
The subjects have metered supplies of mains water and electricity. The building has a mains gas supply.
Energy performance certificate
The Energy Performance Certificate is pending.
Each party will be responsible for their own legal costs incurred in the transaction with the purchaser liable for any LBTT or VAT applicable.
On completion of legal formalities.
Viewing and further information
By appointment through the joint selling agent, Hastings Legal. 28 The Square, Kelso Property Shop, Kelso
For more information about this property, please contact Allied Surveyors Scotland, EH3 on +44 131 268 9630 * (local rate)
Contact Allied Surveyors Scotland about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Allied Surveyors Scotland, and do not constitute property particulars. Please contact Allied Surveyors Scotland for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.