RESIDENTIAL INVESTMENT OPPORTUNITY

1-3, Aitchison Place, High Street, Earlston, Scottish Borders TD4 6HJ

Offers Over  £169,950


Quick Summary

Price £169,950
City Earlston
Size (Acres)
Beds
Bathroom
Garden
Parking Spaces
Period

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Contact

Galashiels Office
01896 751 300

RESIDENTIAL INVESTMENT OPPORTUNITY 1-3, Aitchison Place, High Street, Earlston, Scottish Borders TD4 6HJ

1-3 Aitchison Place provides an exciting buy to let opportunity within Earlston town centre. Earlston is a historic town situated in the Lauderdale Valley to the north east of the central borders, conveniently located for access to the main Borders towns. It
is an attractive town reported to date back to the 1200’s and lays its claim to fame as the home of Thomas Learmonth, better known as Thomas the Rhymer. The settlement is a bustling town situated on the edge of the A68 trunk road. It has a population of approximately 1,779 according to the 2011 population census, an increase of around 4% over the population recorded in 2001. The Market Square which was laid out as a rose garden to mark the coronation of Queen Elizabeth provides a pleasant town square and centre. The town benefits
from a good selection of local facilities including some independent shops, public houses, a church, reputable schools with a newly completed High School at Georgefield to the east of the town all within walking distance of the property.
The town is well placed for commuting to the main borders towns and Edinburgh.

Description
The property comprises a terraced two storey plus attic level house which has been converted into three flats, and the building is understood to date from the late 19th Century, well located close to Earlston town centre within easy reach of all local amenities and close to public transport. No 3 has recently been refurbished and is presented in good order. No 1 is presented in reasonable condition and offers some scope for upgrading. No 2 offers scope for general upgrading and redecoration.
The accommodation comprises:-
1 Aitchison Place
Ground Floor: Hall/Dining Area, Living Room, Kitchen, Two Bedrooms, and Bathroom.

2 Aitchison Place
First Floor: Entrance Hall, Living Room, Kitchen, and Bathroom.
Attic Floor: Landing and Two Bedrooms.

3 Aitchison Place
First Floor: Entrance Hall, Living Room, Kitchen, and Bathroom.
Attic Floor: Landing and Two Bedrooms.

Lease Details

Each of the flats are currently let on Short Assured Tenancies, on the following basis:
No. 1  £276 pcm
No. 2  £320 pcm
No. 3  £290 pcm

Please note that the rent has not been reviewed for some time and would appear below Market Rental Value for flats of this size offering scope for an increased return.

Externally there are communal garden grounds to the rear. No 1 has an enclosed yard to the rear with stairs to the terraced garden ground. A stone built detached garage is located beyond the communal garden.

 

Services

Mains water, electricity, and drainage. Electric night storage heating is installed in each flat.

 

Tenure

Absolute Ownership

This property is sold subject to and with the benefit of all rights of way, whether public or private, and any existing or proposed wayleaves, servitude rights, restrictions and burdens of whatever kind, whether referred to in these particulars or not.

 

Method of Sale

The site is offered for sale as a whole by Private Treaty.

 

Offers

Offers should include: The identity of the purchasers; the price offered; source of funds; clear details of any conditions attached to the offer; proposed timescale for conclusion of missives, completion and payment.

A closing date may be set for offers. Please note that only those parties who formally notify their interest will be informed of the closing date. Interested parties are advised to notify the selling agents of their interest as soon as possible. The sellers reserve the right to sell privately and are not bound to accept the highest or indeed any offer.

Value Added Tax

Any prices are exclusive of VAT. Any intending purchasers must satisfy themselves independently as to the instances of VAT in respect of any transaction.

Viewing

By appointment with the sole agents, Edwin Thompson, Chartered Surveyors

 

Tel. 01896 751300

Fax. 01896 758883

E-mail: [email protected]

 

Residential Letting Service

Edwin Thompson offer a professional and friendly Residential Letting Service. For further information please contact Ashleigh Conlon. Tel. 01896 751300.

 

An exciting Buy-to-Let Opportunity within the Central Borders. 1-3 Aitchison Place comprises three self contained residential flats in a traditional stone/slate building located close to Earlston town centre. This is an excellent investor opportunity currently providing an income of £10,632 per annum. This provides a potential yield of 6.26% per annum before costs.

Scope for rent reviews.

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