Highly Versatile Modern Space

1 Bank Close, Galashiels Scottish Borders

To Let  £7,500 per year


Quick Summary

Price £7,500 per year
City Galashiels
Status New
Size (Acres) 939
Beds
Bathroom
Garden
Parking Spaces
Period

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Contact

Galashiels Office
01896 751300

General Information

The property is situated in a central position lying just off Bank Street in Bank Close which links through to Channel Street, the towns’ principal shopping street and, therefore benefits from a good level of footfall.

Galashiels, once famous for its textiles, is now one of the largest towns in the Scottish Borders having a population of approximately 14,000. Its central location in the Borders means Galashiels is generally considered to be the principal administrative, retail and social centre for the region, effectively serving a population in excess of 110,000. The town also benefits from a significant student population with campus’s of the Heriot Watt University and Borders College within the town.

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. The 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 55 minutes, with departures every 30 minutes. On weekdays the first train departs from Edinburgh at 0545, the last at 2355.

The town features a wide range of High street and out of town retailing, restaurants, cafes 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.

This Opportunity is well positioned just off Bank Street. The proposed £6.7 million Great Tapestry of Scotland Development on High Street is anticipated to generate 50,000 additional visitors to the area each year.

Description

1 Bank Close comprises a building dating to the early 20th Century of solid brick construction under hipped roofs clad in slate. It is understood that the buildings were originally built as a dairy with associated stables and stores serving the town.

To the front there is a shared tarmacadam parking/yard area.

 

The accommodation comprises:

Main shop with hardwood framed display windows to Bank Close and the yard. Principal access is from the east via half glazed entrance doors. To the rear of the main shop there is a hallway leading to the back shop.

Rateable Value

According to the Scottish Assessor’s Association Website this unit is assessed to a Rateable Value of £5,200 per annum effective from 01-Apr-2017.The Small Business Bonus Scheme provides rates relief to help small businesses in Scotland. Where a business’s combined (all business premises in Scotland) rateable value is £15,000 or less up to 100% relief is available subject to eligibility (Current 2018/19). Further details are available from the Business Rates Team of Scottish Borders Council.

Services

Mains electricity, gas, water and drainage.

Rateable Value

The rateable value will need to be assessed on completion but is anticipated to be way below the threshold.

The Small Business Bonus Scheme provides rates relief to help small businesses in Scotland. Where a business’s combined (all business premises in Scotland) rateable value is £15,000 or less up to 100% relief is available subject to eligibility (Current 2018/19). Further details are available from the Business Rates Team of Scottish Borders Council.

Lease Terms

Available by way of a Full Repairing and Insuring lease. Terms by negotiation

Value Added Tax

Unless otherwise stated the prices quoted are exclusive of VAT. Any intending tenants must satisfy themselves independently as to the instances of VAT in respect of any transaction.

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 land and buildings transaction tax, registration dues and VAT thereon.

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]

 

 

A well positioned rental opportunity within Galashiels town centre.

• Highly versatile modern space

• Central location

• May suit: studio, treatment rooms, retail, office, café or artisan workshop

• Good display windows

• 87.25 sq m (939 sq ft)

Guide Rent £7,500 Per Annum Ref. GK5272

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