Commercial property for sale in High Yielding Investment Opportunity, 94 High Street, Galashiels, Selkirkshire, Scottish Borders TD1

Offers over £35,000
Commercial property for sale 10
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Property features

  • Tenure: Freehold

Property description

Key features:
  • High Yielding Investment Opportunity
  • Three year lease form 24 May 2021.
  • Rent £3,500 per annum
  • Yield £10% before costs at Purchase price of £35,000
  • Mutual Break Option first anniversary
  • Town Centre Position
  • Good Window Frontage
  • Net Internal Area 28.56 sq m (307 sq ft)

Main Description
High Yielding Investment Opportunity
Three year lease form 24 May 2021.
Rent £3,500 per annum
Yield £10% before costs at Purchase price of £35,000
Mutual Break Option first anniversary
Town Centre Position
Good Window Frontage
Net Internal Area 28.56 sq m (307 sq ft)

Town centre shop/ office premises

94 high street, galashiels, selkirkshire, scottish borders. TD1 1SQ

Ref. GE1039

This Opportunity is positioned near the £6.7 million Great Tapestry of Scotland Development which is anticipated to generate an additional 50,000 visitors each year. It is scheduled for completion later this year.

General Information
94 High Street is situated within Galashiels Town Centre.

Galashiels has a population of approximately 14,000 and is generally considered to be the main administrative, retail and social centre for the region, effectively serving a population of in excess of 115,000.

In recent years Galashiels has been subject to considerable investment. Developments have included Retail Schemes to the east of the town centre and significant transport infrastructure works.

These infrastructure works have included the Galashiels inner relief road and the Borders Railway link which has re-established passenger services between Edinburgh Waverley and the Central Borders. The journey time from Galashiels to Edinburgh City Centre is approximately fifty five minutes, with departures every thirty minutes. On weekdays, the first train departs from Edinburgh at 05.45, last at 23.55.

The town features a wide range of high street and out of town retailing, restaurants, cafés and local amenities. There is 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 and close training links between Borders General Hospital and a number of Edinburgh Universities.

Front Shop/ Office, Kitchenette, Store room, WC.

The accommodation has been refurbished in recent years with works including:

· Redecorated and carpeted throughout.
· Perimeter trunking.
· Electric convector heating.
· Double glazed UPVC windows.
· LG3 lighting.
· Refitted WC and kitchenette.

An area of around 12’6” x 7’6” is included to the rear of the property. It is understood that there had previously been consent to extend the accommodation but this was never implemented.

Gross Internal Area: 28.56 sq m (307 sq ft)

Established Class 2 use supports a wide range of Financial, Professional and Other services, which may include Solicitors, Accountants, Estate Agents, Beauticians, Nail Bar or a range of Beauty Treatments or Therapy Suites such as Physiotherapy, Chiropractor Care, Osteopathy, chiropodist, Dentist etc.

The Town and Country Planning General Permitted Development (Scotland) Order 1992, permits change of use from Class 2 to Class 1 – General Retail/ Shop uses.

Rateable Value
£3,250 effective from 01-April-2017

Small Business Rates Relief Scheme (sbrr) currently provides up to 100% rates relief (2021/2022) for Businesses with a combined Rateable Value of up to £15,000 for all their business premises within Scotland (subject to application and eligibility).

The premises are currently let on a three year lease effective from 24 May 2021., subject to a tenant break option at the first anniversary. The passing rent is £3,500 per annum.

Mains water and drainage.

Mains electricity. Electric Heating

On the conclusion of legal missives

Value Added Tax
Any prices are exclusive of VAT. The property is not understood to be elected to VAT, meaning that VAT will not be payable on the purchase price.

However, any intending purchasers must satisfy themselves independently as to the instances of VAT in respect of any transaction.

Satellite Navigation
For those with the use of Satellite Navigation the postcode for this property is TD1 1SQ

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

In the normal manner, the purchaser will be liable for any Land and Buildings Transaction Tax, registration dues and VAT incurred thereon, where applicable.

Strictly by appointment with the sole agents:

Edwin Thompson llp, Chartered Surveyors
76 Overhaugh Street

Tel: Fax: Email:

Property info

Floorplan(s): Floorplan 1

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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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