14 Bank Street, Galashiels, Scottish Borders
To Let £7,500 per year
|Price||£7,500 per year|
The subjects are situated in a good trading position within Galashiels town centre which benefits from a high level of footfall and passing trade.
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 on Bank Street looking out onto Bank Street gardens with strong visibility from Bank Street and Bank Street Brae. 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.
14 Bank Street comprises a ground floor unit within a two storey end terraced building with prominent display frontage to Bank Street.
The unit has been well maintained and is presented in good decorative order throughout with features including surface mounted perimeter electrical sockets and suspended ceiling grid with recessed LG3 lighting.
On-street parking is available directly to the front of the unit.
The accommodation comprises:
The front elevation has a large full height display window to Bank Street with glazed entrance door off to the side. The unit is currently occupied as an Opticians, with rear consulting room/ office, store room, rear lobby and WC. To the rear there is a fire exit leading to Over
Mains electricity, water and drainage.
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.
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.
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.
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]
An extremely well positioned rental opportunity within Galashiels town centre.
• 34.14 sq m (367 sq ft)
• Sought after position
• Prominent display frontage to Bank Street
• Good decorative order
• No rates payable – subject to eligibility under SBRR.