48 / 50 Channel Street
Galashiels
Borders
TD1 1BA

Heritable Retail Investment

  • Town Centre Location
  • Let to Why Not Scottish Borders on a lease expiring in 2029
  • Occupiers close by include Post Office, Holland & Barratt, WHSmith, Subway and Specsavers
  • Lot
    54
  • Auction
    23/Sep/2020
  • Rent
    £17,500 per Annum Exclusive
  • Status
    Available
  • Price*
    £130,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 48 / 50 Channel Street<br>Galashiels<br>Borders<br>TD1 1BA
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  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
31 miles south of Edinburgh
38 miles west of Berwick-upon-Tweed
Roads
A68, A7
Rail
Galashiels Railway Station (Borders Line)
Air
Edinburgh Airport
Situation

The property is situated on the south side of Channel Street, the principal retailing thoroughfare in the town centre, close to the junction with Douglas Bridge. Nearby occupiers include Post Office, Holland & Barratt, WH Smith, Lloyds Pharmacy, Subway and Specsavers

Tenure

Heritable.

Description

The property comprises a ground floor shop and first floor ancillary. The remainder of the property is not included in the sale.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald (07718 899341)

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas 
(Approx)
TenantTermRent p.a.xReview
GroundFirstRetailAncillary266.06 sq m42.26 sq m(2,864 sq ft)(455 sq ft)WHY NOT
SCOTTISH
BORDERS CIC (1)
10 year lease from
01/02/2019 to
31/01/2029
£17,500 (2) 
Total308.32 sq m(3,319 sq ft)  £17,500 (2) 

(1) Why Not Scottish Borders CIC operate a drop in cafe at this location.
(2) Stepped rent whereby year 3 rent 18,500 p.a., year 4 rent 19,500 p.a., year 5 22,000 p.a. There will be an increase to 23,000p.a. at rent review on 31/01/2024

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    21.09.20
    File Size
    5 MB
    Login to View
  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    915 KB
    View PDF
  • Site Plan
    Updated Date
    02.09.20
    File Size
    930 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Dentons UKMEA LLP 1 George Square
Glasgow
G2 1AL
Rachel Dunn +44 330 222 1710 rachel.dunn@dentons.com

Useful Links

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