OPENING BID

Timed Online Auction

21 October 2021, 10am-3pm

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: Unit 7 Douglas bridge, Channel Street, Galashiels, TD1 1BH

TOWN CENTRE RESTURANT INVESTMENT Highly visible commercial unit on BUSY pedestrian walkway with immediate rental income of 26,000 per annum on FRI lease until June 2025.

PROMINENT CORNER PLOT excellent size and frontage onto Douglas Bridge Busy pedestrian walkway. Ground & 1st Floor 2,577sq ft PERFECT COMMERCIAL INVESTMENT with instant rental income. 5 star reviews.

Ideal spot in HIGH PASSING TRADE location. MASSIVE RETURN ON INVESTMENT with settled long term tenant Held On F.R.I. Lease Expiry: 7th June 2025 in popular and affluent High Street shopping parade.

Nearby national retailers include ARGOS, Home Bargains, O2, Tesco, Asda, Nationwide Building Society, McDonalds, Poundland and Subway. PRIME SPOT close to parking and transport.

PERFECT INVESTMENT PROPERTY in popular HIGH STREET PARADE with first class tenant. Located 35 miles from Edinburgh; https://www.facebook.com/adriaticogala/

TOWN CENTRE RESTURANT INVESTMENT Highly visible commercial unit on BUSY pedestrian walkway with immediate rental income of 26,000 per annum on FRI lease until June 2025. PROMINENT CORNER PLOT excellent size and frontage onto Douglas Bridge Busy pedestrian walkway. Ground & 1st Floor 2,577sq ft PERFECT COMMERCIAL INVESTMENT with instant rental income. 5 star reviews. The following floor area has been calculated on a gross internal area basis to extend to the following; Ground: 136.6sqm (1,470sq ft) 1st: 102.82sqm (1,107sq ft) Total: 239.4sqm (2,577sq ft) The property comprises a prominent corner position within a regenerated commercial parade within Galashiels town centre. Offering a return frontage onto Gala Water, the property faces Argos, Holland And Barrett along with being within the gentrified portion of Galashiels town centre. The property has been extensively renovated by the tenant, with a large open plan dining area with partially raised separate snug to the side, the property offers a large bar / servery with loose tables and chairs and poser bar to the front window. Floors have been overlaid in laminated timber with walls plastered and painted in bright vibrant colours, further enhances by the L.E.D. spots recessed within the suspended ceiling. Disabled w.c. facilities are offered at ground floor along with rear access to the common yard / car park, along with a single stair case with return leading to the male and female w.c. facilities, office, store and kitchen area. The kitchen is extensive, with extraction and canopy upgraded, with space to accommodate a full team. The floors have been upgraded with commercial grade linoleum and lighting provided by fluorescent strips and L.E.D. spots within the ceiling. Ideal spot in HIGH PASSING TRADE location. MASSIVE RETURN ON INVESTMENT with settled long term tenant Held On F.R.I. Lease Expiry: 7th June 2025 in popular and affluent High Street shopping parade. Nearby national retailers include ARGOS, Home Bargains, O2, Tesco, Asda, Nationwide Building Society, McDonalds, Poundland and Subway. PRIME SPOT close to parking and transport.

PERFECT INVESTMENT PROPERTY in popular HIGH STREET PARADE with first class tenant. Galashiels has an extremely affluent and thriving retail district https://www.facebook.com/adriaticogala/ The property is situated on the east side of Douglas Bridge, access via the main town centre car park and Channel Street, 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.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: until 7th June 2025
Rent: 26,000 per year / 2,167 per month
Yield: 11% (approx)
Tenant: Private Individual
Notes: Let to ADRIATICO LIMITED

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Location

Pricing Information & Bidding

Opening Bid: £209,000

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 21 October 2021, 10am-3pm
Type: Timed Online Auction

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