Commercial property for sale in 52 Bank Street, Galashiels, Scottish Borders TD1

Offers over £70,000
Commercial property for sale
Interested in this property? Call +44 1896 318948 * or Request Details

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Property features

  • Tenure: Freehold

Property description

Key features:
  • Well positioned investment opportunity
  • Currently income £6,000 per annum
  • Sought after position
  • Strong rental Income
  • Well suited to the local market
  • 8.57% return per annum before costs

Main Description
An extremely well positioned investment opportunity within Galashiels town centre. Currently let at £6,000 per annum.

• Sought after position
• Strong rental Income
• Well suited to the local market
• Currently below Rates Threshold - subject to eligibility under sbrr.
• Price equates to excellent return of over 8.57% per annum before costs.

General Information
52 Bank Street is situated in a good trading position within Galashiels town centre.

Galashiels with a population of approximately 14,000 is on of the principal towns in the Scottish Borders. It is generally considered to be the main administrative, retail and social centre for the region, effectively serving a population of 110,000. In recent years Galshiels has been subject to considerable investment.

Developments have included the Galashiels inner relief road and the Borders Railway link. Which has re-established passenger services between Edinburgh Waverly and the central Borders. The journey time from Galashiels to Edinburgh city centre is approximately 55 minutes, with departures every 30 minutes.

The town features a wide range of High street and out of town retailing, restaurants, cafes and local amenities. There is also a significant student population, as home to the Heriot Watt University School of Textiles and Design as well as having a campus of Borders College.

Bank Street is one of the towns main retail streets with a good level of footfall and passing trade, as one of the towns main vehicular thoroughfares. The long sweeping planting and well tended lawns of Bank Street Gardens to the South of the Street provides an appealing shopping environment.

Description
A ground floor shop with attractive traditional hardwood framed shop façade within a two storey terraced building a short distance to the west of the Category B Listed Fountain at recently upgraded Cornmill Square.

The unit benefits from a good standard of fit-out having being re-furbished by the current tenants.

On-street parking is available directly to the front of the unit.

Accommodation
The accommodation comprises:

Reception/ waiting area
Front shop
Rear shop
Stock area with tea preparation area
WC.

Areas
Net Internal Area 45.37 sq m (488 sq ft)
Tenancy Information
The shop is let on a full repairing and insuring lease for a term of six years from 01 February 2017 at a current passing rent of £6,000 per annum. The lease provides for an upwards only rent review to Market Rent on the third anniversary.

Services
Mains electricity, water and drainage.
Tenure
Absolute Ownership

This property is sold subject to and with the benefit of all rights of way, whether public or private, and any existing or proposed wayleaves, servitude rights, restrictions and burdens of whatever kind, whether referred to in these particulars or not.

Offers
A closing date may be set for offers. Please note that only those parties who formally notify their interest will be informed of the closing date. Interested parties are advised to notify the selling agents of their interest as soon as possible. The sellers reserve the right to sell privately and are not bound to accept the highest or indeed any offer.

• Offers should include:
• The identity of the purchasers;
• the price offered; source of funds;
• clear details of any conditions attached to the offer;
• proposed timescale for conclusion of missives, completion and payment

Value Added Tax
Any prices are exclusive of VAT. Any intending purchasers must satisfy themselves independently as to the instances of VAT in respect of any transaction.

Legal Costs
Each party will be responsible for their own legal costs incurred in connection with this transaction.

Viewing
By appointment with the sole agents: Edwin Thompson, Chartered Surveyors
76 Overhaugh Street, Galashiels TD1 1DP
Tel. Fax. E-mail:

Property Ref:84_2523_4669326

Property info

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For more information about this property, please contact
Edwin Thompson, TD1 on +44 1896 318948 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Edwin Thompson, and do not constitute property particulars. Please contact Edwin Thompson 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.

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