High Street, Galashiels, TD1

Great high street position

Well presented

Good sized property providing retail / office accommodation

Three parking spaces included in the sale

Good level of passing traffic

Gross Internal Area 64.86 sq m (698 sq ft)

Guide Price £30,000 Ref. GC23-05

(For rental enquiries, please contact the agents)

General Information

49a High Street is situated to an off-pitch position fronting onto the access to the High Street Car Park to the west of 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 110,000.

In recent years Galashiels has been subject to considerable investment. Developments have included the Gala Water Retail Park, two new supermarkets 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 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 and close links between Borders General Hospital and Napier University.

Description

A former mill building which is of traditional construction with painted rendered external finish under multi-span pitched roof clad in slate. Rainwater goods are of PVC specification.

The unit is set back from Street level in an off-pitch position fronting onto the access to the High Street car park. The unit provides versatile accommodation which, may suit a range of retail or professional service uses.

Accommodation

Entrance Porch, Retail Area finished with slat wall panels, store room and WC.

Areas

The units have been measured from plan to provide the following approximate areas:

Gross Internal Area 64.86sq m (698sq ft)

E & oe measurements taken with a laser measure.

Services

Mains electricity, water and drainage are connected.

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 stamp duty land tax, registration dues and VAT thereon.

Rateable Value

The unit is currently assessed to a rateable value of £4,700 effective from 01-April-2017

The proposed rateable value effective from 01-April-2023 is £6,200.

Small Business Rates Relief Scheme (SBRR) is currently understood to provide up to 100% rates relief for units with a rateable value of £15,000 or less based on the combined total of all the occupiers business premises within Scotland (subject to application and eligibility). This is an important factor as local covenants are generally extremely sensitive to the cost of rates and wherever possible will try to avoid taking in premises with a rates liability.

Tenure

Presumed Absolute Ownership following the Abolition of Feudal Tenure (Scotland) Act 2000.

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Planning

The subjects are situated within the towns conservation area and town centre boundary as defined within the Scottish Borders Local Development Plan 2016. The property is not listed.

Established use, at the date of valuation Class 1 (Retail) of the Town and Country Planning (use classes) Scotland Order 1997 (as amended).

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.

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]