Commercial property for sale in 17-21, High Street, Galashiels, Selkirkshire, Scottish Borders TD1

£250,000
Commercial property for sale
Interested in this property? Call +44 1896 318948 * or Request Details

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Property description

Key features:
  • Combined rental income of £20,557 per annum.
  • Attractive investment portfolio.
  • High Street Position.
  • Two ground floor shop units.
  • Two bedroom maisonette.
  • One bedroom flat.
  • Yield on commercial 10%
  • Yield on residential 5.5%

Main Description
General Information
17-21 High Street is situated in a prominent position fronting on to the High Street 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.

This Opportunity is well positioned - directly opposite the £6.7 million Great Tapestry of Scotland Development which is anticipated to generate an additional 50,000 visitors each year.

A two storey plus attic level symmetrical end terrace building providing an attractive investment portfolio comprising two ground floor retail units, together with a one bedroom flat and a two bedroom maisonette on the upper levels.

17 – 21 is of traditional stone construction under a pitched roof clad in slate incorporating dormer window projections to the front elevation. The ground floor units each have a traditional shop frontages to the High Street.

17 High Street
Well appointed self-contained ground floor retail unit which has been extended to the rear. Modernised and fitted out for current use as a beauty salon with reception (front shop), rear shop, office, WC and kitchen.

21 High Street
Fitted out as butchers. Front shop, rear shop/preparation area, wash room, rear courtyard.

A hard wood entrance door to the centre of the building provides communal access, hall and stairs to the residential properties. Both properties have recently been fully refurbished and are presented in good condition.

19 High Street
A first and attic level maisonette providing entrance hall, kitchen, living room, bathroom, landing, box room and two bedrooms.

19a High Street
A first floor flat with entrance hall, living room, bedroom, kitchen and shower room.

Summary Details
Address sq m sq ft Tenant Summary Passing Rent Lease
17 High Street nia 53.51 sq m (576 sq ft) Tantalise Retail £7,012 pa Fri terms
21 High Street nia 49.18 sq m (529 sq ft) Stuart Noble Retail £6,157 pa Fri terms
19 High Street gea 102.45 sq m (1,102 sq ft) Maisonette £4,200 pa Short Assured
19a High Street gea 42.80 sq m (461 sq ft) Mr S Scott Flat £3,240 pa Short Assured

Services
Mains electricity water and drainage to all properties. 17 High Street has a modern gas fired central heating system via radiators. Heating to the other properties are predominantly electric night storage heating

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

Tel. Fax. E-mail:

Residential Letting Service
Edwin Thompson offer a professional and friendly Residential Letting Service. For further information please contact Ashleigh Conlon. Tel. E-mail:

Property Ref:84_2523_4541031

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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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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