Prime Town Centre Location
2 Retail Units
Held on Single F.R.I Lease
Let to William Hill
Running on Tacit
Opportunity to Re-gear Lease
Passing Rent: £37,000p.a.
Sale: £425,000
Location
The subject premises are located to the south side of Channel Street close to its junction with Bank 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 subject comprise 2 commercial units set within a larger 2 storey mixed development of traditional construction surmounted by a pitched roof.
The properties offer a large single window display frontages with single access door. Internally the property is presented in an open plan layout with partitioned w.c. and tea prep area
“William Hill” hold an overriding lease across both properties with the neighbouring property sub-leased.
Lease Summary
The property is held on a full repairing and insuring head lease on the following terms;
Tenant: Camec (Scotland) Ltd t/a William Hill
Expiry: 5th May 2024 (running on tacit)
Passing Rent: £37,000p.a.
Area
The subjects have been measured on a net internal area basis and are calculated to extend to the following floor area;
62 High St (William Hill)
Ground: 127.67sqm (1,374sq ft)
1st: 67sqm (721sq ft)
Total: 194.67sqm (2,095sq ft)
64 High St (Cafe)
Ground: 28.74sqm (309sq ft)
Basement: 30sqm (323sq ft)
Total: 58.74sqm (632sq ft)
Price
The property is available on a freehold basis for £425,000
V.A.T.
Prices quoted are exclusive of V.A.T.
E.P.C
Available on request
Legal
Each party shall bear their own legal costs incurred in the transaction
L.B.T.T. & Registration Dues
Any L.B.T.T. or Registration Dues incurred in the transaction shall be borne by the tenant / purchaser.
V.A.T
Figures quoted exclusive of V.A.T.
Legal
Each party shall bear their own legal costs incurred in the transaction
Viewing
Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser/tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time