Property photos
Auction
Freehold
Guide price
£195,000
Property for sale
Channel Street, Galashiels, Selkirkshire TD1Key Information
Local area information
Property location
Nearby amenities
- Burgh Primary School 0.1 miles
- Galashiels 0.1 miles
- St Margaret's RC Primary School (Galashiels) 0.3 miles
- Tweedbank 2.1 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
- Exciting mixed use/residential development opportunity
- National brand tenant in situ
- Rental income from day one
- Added value from residential development
- Planning approved reference 22/000896/ful
Mixed Use Commercial/Residential Development Opportunity
New to auction is this exciting mixed use/residential development opportunity enjoying a prime location in central Galashiels. Extending to an overall floor area of approximately 924 sq. Metres (9,945 sq. Feet) over two levels, the property comprises a tenanted/trading retail unit on the ground floor, with planning permission approved for the first and roof levels to be developed into six residential units. The ground floor is currently occupied by the national chain, Savers, on a rolling annual lease (the tenant has occupied since August 2011) producing a current annual rental in the amount of £16,535 per annum. We understand the tenant is keen to continue their tenancy, and would be open to discussions regarding a new longer term lease agreement. The first floor and roof section of the property have had planning permission approved under Borders Council Ref. 22/00896/ful to create 6 residential units, comprising 1 x three bed, 4 x two bed and 1 x one bed apartments. No access to the upper floor is currently available, with the trading unit available for viewing during normal trading hours. The benefit of ongoing rental income from day one, along with the added value potential of completing the residential development element, is sure to attract strong levels of demand from investors/developers. Early expression of interest is essential.
Galashiels is a town in the Scottish Borders, situated on the Gala Water river. It is a popular destination for visitors who want to explore the rich history and culture of the region, as well as enjoy the scenic landscapes and outdoor activities. Galashiels has excellent transport links, with regular bus and train services to Edinburgh, Glasgow, and nearby towns. The town also has a modern transport interchange, which opened in 2015 and connects the bus and rail networks.
Purchasers notes
Please note that these particulars have been prepared by us on the basis of information provided by our client. If there is any aspect of these particulars that you wish clarified or that you find misleading please contact the office where further information will be made available.
• No tests have been made of services, equipment or fittings.
• No warranty is given or implied as to the condition of buildings, services, fixtures, fittings etc.
• All measurements, distances and acres are approximate.
• Fixtures, fittings and other items are not included unless specified in these details.
This material is protected by the laws of copyright. The owner of the copyright is Auction House Scotland. The property sheet forms part of our database and is protected by the database rights and copyright laws. No unauthorised copying or distribution without permission. Auction House Scotland is revolutionising the sale of property in Scotland.
Remember, if you are buying a property which is being sold by Auction House Scotland you will normally be responsible for payment of a Buyer's Premium or Auction Fee of 3.6% of the purchase price subject to a minimum of £3600 inclusive of VAT. More details can be obtained on application.
Cybercrime Warning:
Please be aware that there is a significant risk posed by cyber fraud, specifically affecting email accounts and bank account details. Please note that our bank account details will not change during the course of A transaction and we will not change our bank details via email. Please be careful to check account details with us in person if in any doubt. We will not accept responsibility if you transfer money into an incorrect account.
New to auction is this exciting mixed use/residential development opportunity enjoying a prime location in central Galashiels. Extending to an overall floor area of approximately 924 sq. Metres (9,945 sq. Feet) over two levels, the property comprises a tenanted/trading retail unit on the ground floor, with planning permission approved for the first and roof levels to be developed into six residential units. The ground floor is currently occupied by the national chain, Savers, on a rolling annual lease (the tenant has occupied since August 2011) producing a current annual rental in the amount of £16,535 per annum. We understand the tenant is keen to continue their tenancy, and would be open to discussions regarding a new longer term lease agreement. The first floor and roof section of the property have had planning permission approved under Borders Council Ref. 22/00896/ful to create 6 residential units, comprising 1 x three bed, 4 x two bed and 1 x one bed apartments. No access to the upper floor is currently available, with the trading unit available for viewing during normal trading hours. The benefit of ongoing rental income from day one, along with the added value potential of completing the residential development element, is sure to attract strong levels of demand from investors/developers. Early expression of interest is essential.
Galashiels is a town in the Scottish Borders, situated on the Gala Water river. It is a popular destination for visitors who want to explore the rich history and culture of the region, as well as enjoy the scenic landscapes and outdoor activities. Galashiels has excellent transport links, with regular bus and train services to Edinburgh, Glasgow, and nearby towns. The town also has a modern transport interchange, which opened in 2015 and connects the bus and rail networks.
Purchasers notes
Please note that these particulars have been prepared by us on the basis of information provided by our client. If there is any aspect of these particulars that you wish clarified or that you find misleading please contact the office where further information will be made available.
• No tests have been made of services, equipment or fittings.
• No warranty is given or implied as to the condition of buildings, services, fixtures, fittings etc.
• All measurements, distances and acres are approximate.
• Fixtures, fittings and other items are not included unless specified in these details.
This material is protected by the laws of copyright. The owner of the copyright is Auction House Scotland. The property sheet forms part of our database and is protected by the database rights and copyright laws. No unauthorised copying or distribution without permission. Auction House Scotland is revolutionising the sale of property in Scotland.
Remember, if you are buying a property which is being sold by Auction House Scotland you will normally be responsible for payment of a Buyer's Premium or Auction Fee of 3.6% of the purchase price subject to a minimum of £3600 inclusive of VAT. More details can be obtained on application.
Cybercrime Warning:
Please be aware that there is a significant risk posed by cyber fraud, specifically affecting email accounts and bank account details. Please note that our bank account details will not change during the course of A transaction and we will not change our bank details via email. Please be careful to check account details with us in person if in any doubt. We will not accept responsibility if you transfer money into an incorrect account.
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Auction House Scotland
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Property descriptions and related information displayed on this page are marketing materials provided by - Auction House Scotland. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Auction House Scotland for full details and further information.