SHOP/ OFFICE/ STUDIO/ GALLERY - Abbey Street, Melrose, Scottish Borders TD6 9PX

Abbey Street, Melrose, Scottish Borders TD6 9PX

Rental Offers Over£12,000 per year

General Information
This shop is situated in a prominent position at the junction of Buccleuch Street and Abbey Street directly to the south of Melrose Abbey within Melrose town centre.

Melrose is an historic town with a population of 2,307 according to the 2011 population census. It is an attractive town located in the central borders, approximately 4.5 miles east of Galashiels. The settlement has a relatively affluent catchment and benefits from a significant level of seasonal tourist trade. It benefits from all local amenities and has a good range of independent shops and restaurants.

It is conveniently located for access to the other towns in the central borders with good connectivity to the national roads network via the A68 trunk road and the A7 arterial route. The southern terminus of the newly re-established borders railway linking the central border to Edinburgh is at Tweedbank station approximately 1.5 miles west.

A well-positioned ground floor retail unit with excellent window frontage to Abbey Street at the junction with Buccleuch Street.
The premises occupy the ground floor of a two storey Category C Listed Cottage believed to date to around 1875, which has been converted to provide a retail unit with traditional shop frontage to Abbey Street.

The unit is adjacent to the grounds of Melrose Abbey and will benefit from a good degree of footfall with visitors to the Abbey, Harmony House and Gardens and Priorwood Gardens. One of the principal Coach and car parks serving the town is opposite and the one-way system in Melrose also means there is a good level of visibility from passing traffic

The accommodation comprises:
Single fronted shop with glazed offset entrance door, retaining many original features including the bay window to the north elevation looking out to Melrose Abbey, rear door leading to Priorwood Gardens; communal kitchen; store room; communal rear hall with WC off.

Mains electricity, drainage and water
Rateable Value
The current rateable value of the premises is £9,100 per annum.  The proposed rateable value following the 2017 Rates Revaluation effective from 01-Apr-2017 is £10,400.

The small business rate relief scheme (SBRR) currently provides 100% rates relief for units with a rateable value of £10,000 or less based on a combined total of all the occupiers business premises within Scotland (subject to application and eligibility).  The threshold for 100% rates relief is expected to increase to cover units with a rateable value of up to £15,000 effective from 1st April 2017 when the 2017 rates revaluation comes into effect.

Energy Performance Certificate
Energy Performance Rating: Band to be confirmed

Lease Terms
Available by way of a new internal repairing only lease.

In the normal manner, the in-going tenant will be liable for any land and buildings transaction tax, registration dues and VAT thereon.

By mutual agreement.

Unless otherwise stated the prices quoted are exclusive of VAT.  Any intending purchasers 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.

By appointment with the sole agents:
Edwin Thompson LLP
76 Overhaugh Street
Tel. 01896 751300

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    Quick Summary

    Price £12,000 per year
    Status Now Let
    Size (Acres)