Channel Street, Galashiels, TD1

Prime Double Fronted Shop Unit with central access door

Net Internal Area 75.98 sq m (818 sq ft)

Modern fit out - lined walls, suspended ceiling recessed lights

No rates currently payable - subject to eligibility under SBRR

Rent £10,000 per annum Ref. GM5487

Description

17 Channel Street, Galashiels comprises a double fronted ground floor retail unit with central access door which benefits from a modern fit-out with lined walls and suspended ceiling with recessed light units.

The unit is of a size and type suited to a wide variety of retail applications.

Subject to the necessary consents it may also suit Office, studios, treatment rooms, artisan workshops, a coffee shop or similar.

Areas

The subject has been measured in accordance with the RICS Code of Measuring Practice to the following Net Internal Areas:

Retail Area - 75.98 sq m (818 sq ft)

E &oe Measurements taken using laser measure.

Accommodation

Front Shop, rear lobby with separate delivery/ personnel access off Park Street.

General Information

17 Channel Street is situated towards the western end of Channel Street, the principal retail street serving Galashiels.

Galashiels has a population of approximately 14,970 according to the 2021 Mid-Year Population estimates compiled by National Records of Scotland a 2.61% increase over the population recorded at the 2011 Census (14,590).

Situated within the Central Scottish Borders, the Town is one of the largest in the region, generally considered to be the principal administrative, social and retail centre effectively servicing a population of 105,270.

There is a significant student population within the town with campuses of Heriot Watt University and Borders College approximately 1 mile to the east at Netherdale.

In recent years Galashiels has benefited from considerable public and private investment. Developments have included the Gala Water Retail Park, two new supermarkets to the east of the town centre and significant transport infrastructure works including the Galashiels Inner Relief Road, and the Borders Railway link re-establishing passenger services between Edinburgh Waverley and the Central Borders.

The journey time from Galashiels to Edinburgh city centre by train is approximately 55 minutes with departures every 30 minutes. On weekdays, the first train departs from Edinburgh at 05.45 with the last at 23.55.

Services

Mains electricity, water and drainage. Airmaster Electric Panel heaters to flat.

Rateable Value

According to the Scottish Assessor’s Association Website this unit is assessed to a Rateable Value of £14,100 per annum effective from 01-Apr-2017.

The proposed rateable value as of 01-Apr-2023 is £9,200.

The Small Business Bonus Scheme provides rates relief to help small businesses in Scotland. Where a business’s combined (all business premises in Scotland) rateable value is £15,000 or less up to 100% relief is available subject to eligibility (Current 2021/22). Further details are available from the Business Rates Team of Scottish Borders Council.

Lease Terms

Available by way of a Full Repairing and Insuring lease. Terms by negotiation.

Value Added Tax

Unless otherwise stated the prices quoted are exclusive of VAT.

Any intending tenants 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.

In the normal manner, the in-going tenant will be liable for any land and buildings transaction tax, registration dues and VAT thereon.

Viewing

By appointment with the sole agents:

Edwin Thompson, Chartered Surveyors

76 Overhaugh Street

Galashiels

TD1 1DP

Tel. 01896 751300 Fax. 01896 758883

E-mail: [email protected]