Cookies help us deliver our services, and are used to customise the service provided to you. By using our webiste you agree to our privacy policy, which is available here Privacy Policy. OK

Click on an image to enlarge
 
 



Property Ref: 29006

Town Centre Bank Investment - For Sale In Galashiels

Let to TSB Bank PLC with further development potential STPP


103 Channel Street, Galashiels, Scottish Borders, TD1 1BL
Available
796 SQ FT (74 SQ M)
Freehold Price £650,000



Enquiry about this Property

Property Type

Retail Investment

Tenure

Feuhold/Freehold

Price

£1.4m

Gross Annual Income

£40,000 pa

Gross Yield

6.8% initial yield

Location

Galashiels is the principal retailing town in the Borders region with a population of 13,750. The town is located 28 miles southeast of Edinburgh via the A7 and 14 miles north of Hawick. The property is situated in the town centre fronting the main shopping thoroughfare, Channel Street, close to its junction with Market Place. Occupiers nearby include Boots, Nationwide, Ethel Austin, Specsavers, Birthdays, Oxfam, Travelcare, Help the Aged, Phones 4 U and Tesco Pharmacy.

Description

The property is arranged on ground and one upper floor to provide a ground floor banking hall together with ancillary first floor office/staff accommodation.

Accommodation

** The property has not been inspected by Telsar Ltd
Gross Frontage 10.3 m 10.3 m
Net Frontage 9.5 m 9.5 m
Shop & Built Depth 21.0 m 21.0 m
First Floor** 796 sqft 73.95 sqm

Investment Considerations

Gross Income £40,000 pa
Prominent Town Centre location
Let to TSB Bank PLC
Current rent reserved £40,000 pa
First floor development potential (STPP)
Upcoming reversion, potential to increase income
6.8% initial yield

Tenancy

Let to TSB Bank PLC for a term of 10 years from 24th Dec 1999

VAT

No VAT

Legal Costs

Each party to bear their own legal costs.

Misrepresentation

Telsar Ltd and its joint agents, give notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees, and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Telsar Ltd or its joint agents, has any authority to make any representation or warranty whatsoever in relation to this property. All rentals and prices are quoted exclusive of VAT.