Prime Town Centre Location
Ground & 1st Floor
Held on F.R.I Lease
Expiry 31st Jan 2029
Passing Rent: £XXXp.a.
Fixed Rent Increases Over First 5 Years To £XXXp.a.
P.O.A
Location
The subject premises are located to the south side of Channel Street within an area of existing national and local retail operators.
Galashiels is an established Scottish Borders commuter town situated some 27 miles to the south of Edinburgh and 18 miles to the east of Peebles. The town forms a major transport network for the Scottish Borders with links to Edinburgh and Carlisle by way of the A7 and to Newcastle by the A68 arterial road. It is also part of the main bus hub and will soon be the central hub for the forthcoming railway line, linking the Scottish Borders to Edinburgh. Neighbouring occupiers include Argos, Holland & Barrett, Lloyds pharmacy, Subway, Boots, Nationwide Building Society, Co-Op Funeral Care.
Subjects
The property comprises a substantial ground and first floor commercial unit set within a larger 3 storey commercial development of traditional construction surmounted by a pitched roof.
The property benefits from a large aluminium framed and glazed frontage with access gained via twin, glazed doors leading to an open plan retailing area. Lighting is provided by way of fluorescent strips recessed within the suspended acoustic tile ceiling with floors being overlaid in laminated timber.
Partitions have been erected to form main retailing space, private office, storage area and w.c. facilities. The space benefits from an upper floor which is accessible via an internal staircase providing further storage, office and studio space.
The tenant utilises the unit as a coffee shop, gift shop and tourism outlet promoting the Scottish Borders.
Area
The subjects have been measured on a net internal area basis and are calculated to extend to the following floor area;
Ground: 266.06sqm (2,864sq ft)
1st Floor: 42.26sqm (455sq ft)
Total: 308.32sqm (3,319sq ft)
Executive Summary
The property is held on a full repairing and insuring head lease on the following terms;
Tenant: Why Not Scottish Borders C.I.C.
Expiry: 31st Jan 2029
Passing Rent: £XXXp.a.x.
Rent Increase: 1st Feb 2021: £XXXp.a.x.
1st Feb 2022: £XXXp.a.x.
1st Feb 2023: £XXXp.a.x
1st Feb 2024: £XXXp.a.x
Price
On Application
V.A.T
The property has been elected for V.A.T. as such the transaction will be treated as a T.o.G.C.
E.P.C
Available on request
Legal
Each party shall bear their own legal costs incurred in the transaction
LBTT & Registration Dues
The purchaser shall be responsible for any LBTT incurred in the transaction
Lease & Title
Available on request