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*CLOSING DATE SET 16/12/22 @ 12 NOON *, Industrial Buildings/Development Opportunity, Wheatlands Mill & Riverside Mill, Wheatlands road, Galashiels, TD1 2HQ

105,200 Sq Ft / Industrial / Warehouse

For Sale - £625,000.00

Available - Last updated: 17 January 2023

***CLOSING DATE SET 16/12/22 @ 12 NOON ***

The subjects comprise 2 former mill buildings that are being sold with vacant possession plus a modern office that is currently let to the Women’s Royal Volunteer Service.

Each mill property is of the following broad specification:

  • Stone construction
  • Solid concrete floor
  • Office accommodation
  • Toilet & staff facilities
  • 3 phase power supply
  • Vehicular access loading doors
  • Loading yard

The WRVS property is located on the North Wheatlands Mill site and comprises a detached single storey flat roofed office building that has been recently refurbished to a good standard throughout. The subjects are let on a full repairing and insuring lease (subject to a schedule of condition) that has continued on tacit relocation since 13th December 2015.

There is a substation on the Riverside Mill site let at a peppercorn rent to Scottish Power on a lease expiring 31st March 2038.

Location

Galashiels is situated off the A7 amidst the picturesque Borders countryside and lies approximately 18 miles from Peebles, 40 miles south of Edinburgh and 58 miles north of Carlisle. The Scottish Borders Railway provides easy connectivity to Edinburgh and beyond via the station at Tweedbank.

The town is located in the centre of the Scottish Borders and is the principal commercial and administrative hub for the area.

Wheatlands Road is situated approximately 1 mile from the town centre and is home to occupiers including Scottish Borders Council, S & I Thomson Auto Salvage, British Red Cross, Grove Bedding and Titan 365 Gym.

Accommodation

The subjects have been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and the following Gross Internal Areas have been calculated:

WRVS Office - 300 sq m (3,229 sq ft)

North Wheatlands Mill - 3,697 sq m (39,794 sq ft)

Riverside Mill - 5,777 sq m (62,182 sq ft)

Total - 9,774 sq m (105,205 sq ft)

The total area of the 2 sites is approximately 3.81 acres.

Terms

RATEABLE VALUE - The subjects are currently listed in the valuation roll as follows:

WRVS Office: RV £17,400
North Wheatlands Mill: RV £66,500
Riverside Mill: RV £59,800

SALE TERMS - The subjects are available to purchase as a whole or in 2 lots.

Lot 1 - North Wheatlands Mill & WRVS Office: Offers over £625,000 plus VAT

Lot 2 - Riverside Mill; Offers over £375,000 plus VAT

Lots 1 & 2 combined - Offers over £1,000,000 plus VAT

EPCS:

WRVS Office – D (53)
North Wheatlands Mill – EPC Rating E (65)
Riverside Mill – EPC Rating C (35)
Copies of the EPC documents are available on request.

VAT - All figures quoted are exclusive of VAT.

ENTRY - By agreement. 

LEGAL COSTS - Each party will be responsible for the payment of their own legal costs involved in any transaction. The incoming tenant will be responsible for the payment of any Land and Buildings Transaction Tax and VAT incurred.

Specification

  • 9,773 sq m (105,200 sq ft)
  • 2 former mill buildings available as a whole or in 2 lots
  • Modern office building currently let at £15,000 per annum
  • Redevelopment potential subject to consent

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
Lot 1 - North Wheatlands Mill & WRVS Office For Sale Freehold £625,000.00 NA
Lot 2 - Riverside Mill For Sale Freehold £375,000.00 NA
Lots 1 & 2 combined For Sale Freehold £1,000,000.00 NA

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Contact agents

Oliver Lawson

DM Hall

0131 610 0575

Ian Davidson

DM Hall

0131 610 0830



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