RETAIL UNIT(s)

80-82 Channel Street, Galashiels, Scottish Borders, TD1 1BD

Guide Rent  £12,000 per year


Quick Summary

Price £12,000 per year
City Galashiels
Status New
Size (Acres)
Beds
Bathroom
Garden
Parking Spaces
Period

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Contact

Galashiels Office
01896 751 300

Location
82 Channel Street is situated to the south of Channel Street, the principal retail area serving Galashiels and the central Scottish Borders.

Galashiels has a population of approximately 14,000 and is generally considered to be the main administrative, retail and social centre for the region, effectively serving a population of in excess of 110,000.

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.

These 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 fifty five minutes, with departures every thirty minutes. On weekdays, the first train departs from Edinburgh at 05.45, last at 23.55.

The town features a wide range of high street and out of town retailing, restaurants, cafés 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 and close links between Borders General Hospital and Napier University.

Description
Modern retail units situated within an arcade of nine similar units believed to date to the 1960’s.

The unit provide accommodation on the ground floor with delivery access to the rear via Overhaugh Street.

The premises are part two storey of brick construction with pitched roof clad in slate to front section and a single storey to the rear with flat roof/walkway access via concrete access stair from Overhaugh Street. To the rear there is a communal tarmacadam car park and delivery access.

The front elevation is faced in reconstituted stone with protruding box windows at first floor level.

Proposals
The planning consent reference 17/00814/FUL has been granted or sub-division to provide :

Unit 1: Front shop, store, tea preparation area, and accessible WC.

Unit 2: Front shop, store, tea preparation area, and accessible WC.

The proposals provide for extending the unit forward to the pavement level with modern window frontage.

Energy Performance Certificate
TBC

Lease Terms
Available by way of a new lease.

Terms by negotiation.

Rateable Value
The current rateable value of the premises is £19,900 but will need to be re-assessed.
We also anticipate that upon re-assessment as two separate units, the Rateable Value will be below the threshold.

The Small Business Rates Relief Scheme provides rates relief to help small businesses in Scotland. For the 2019/2020 year up to 100% rates relief is available for business with a combined rateable value (of all business premises in Scotland) with a Rateable Value of £15,000 or less subject to application and eligibility. Further details are available from the Business Rates Team at Scottish Borders Council. Tel. 0845 3000341.

Entry
On the conclusion of legal missives

Legal Costs
The tenant will be responsible for the Landlords reasonable costs in connection with the preparation of the lease agreement.

In the normal manner, the in-going tenant will be liable for any stamp duty, land tax, registration dues and VAT incurred thereon, where applicable.

Value Added Tax

Any prices are exclusive of VAT. The property is not understood to be elected to VAT. However, any intending purchasers must satisfy themselves independently as to the instances of VAT in respect of any transaction

Satellite Navigation
For those with the use of Satellite Navigation the postcode for this property is TD1 1BD

Fixtures and Fittings
Only items specifically mentioned in the particulars of sale are included in the price.

Viewings
Strictly by appointment with the sole agents:

Edwin Thompson LLP, Chartered Surveyors
76 Overhaugh Street
Galashiels
TD1 1DP
Tel: 01896 751300
Fax: 01896 758883
Email: [email protected]

Ground floor Retail unit(s)
Available as a whole or two separate units
Delivery access to the rear via Overhaugh Street
Net Internal Area as a whole 158.14 sq m (1,702 sq ft)

Rental Offers Over £8,000 per annum each for separate units

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