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Glazed Front Retail Premises In Prime Location, 48/50 Channel Street, Galashiels, TD1 1BA

not specified / Retail

For Sale

Available - Last updated: 13 October 2020

Prime Town Centre Location

Ground & 1st Floor

Held on F.R.I Lease

Expiry 31st Jan 2029

Passing Rent: £17,500p.a.

Fixed Rent Increases Over First 5 Years To £23,000p.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: £17,500p.a.x.

Rent Increase: 1st Feb 2021: £18,500p.a.x.

                         1st Feb 2022: £19,500p.a.x.

1st Feb 2023: £22,000p.a.x

1st Feb 2024: £23,000p.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 

 

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold NA NA

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Contact agents

Will Rennie

TSA Property Consultants

0141 538 0192



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