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Guide Price
£192,000


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24 October 2024, 3pm

Map & Location

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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

Modern Retail Parade Prime Thoroughfare Adjacent to main car park Held on F.R.I Lease Let to British Red Cross Society Ground Floor Expiry May 2027 Passing Rent: £18,000p.a.x

Nearby traders include Nationwide Building Society, Vodafone, VPZ, Subway, Lloyds Pharmacy and the newly opened Galashiels Museum.

The property is situated on the busy Douglas Bridge retail parade within the town of Galashiels.

he British Red Cross Society's annual turnover has seen significant growth recently. For the financial year ending in December 2022, the British Red Cross reported a total income of £439 million.

Communication links are provided via a direct train line to Edinburgh and also the A7 trunk road which links to Edinburgh, Hawick and Carlisle.

Tenant: British Red Cross Society Expiry: 25th May 2027 Passing Rent: £18,000p.a.x. Area: 201.58sqm (2,170sq ft) Further Information: The British Red Cross Society's annual turnover has seen significant growth recently. For the financial year ending in December 2022, the British Red Cross reported a total income of £439 million, which represents a substantial increase from previous years, largely driven by their Ukraine appeal and other humanitarian efforts. The British Red Cross operates around 330 charity shops across the United Kingdom

The property is situated on the busy Douglas Bridge retail parade within the town of Galashiels. Galashiels is a busy Scottish market town located in the Borders some 30 miles south of Edinburgh and 30 miles west of Berwick Upon Tweed. The town has a resident population of some 14,000 persons. Communication links are provided via a direct train line to Edinburgh and also the A7 trunk road which links to Edinburgh, Hawick and Carlisle. Nearby traders include Nationwide Building Society, Vodafone, VPZ, Subway, Lloyds Pharmacy and the newly opened Galashiels Museum.

Full Address:  Douglas Bridge, Red Cross Investment, Galashiels, Borders, TD1 1BH

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: Expiry May 2027
Rent: £18,000 per year / £1,500 per month
Yield: 11% (approx)
Tenant: Private Individual
Notes: Tenant: British Red Cross Society Expiry: 25th May 2027 Passing Rent: £18,000p.a.x.

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Pricing Information & Bidding

Guide Price: £192,000


What is a Guide Price... Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change prior to the auction.

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Auction Details

Date & Time: 24 October 2024, 3pm
Type: Deadline for Offers

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