Douglas Bridge, Galashiels, Selkirkshire, TD1

Town Centre Location
Modern Construction
Beautifully Presented
Let To Specsavers Optical Superstores
Expiry: November 2028
Passing Rent: £26,000p.a.x.
Price: o/o £260,000


Location

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.

Property

The property comprises a mid terraced single storey commercial premises within a modern development.

The property offers a prominent aluminium framed and glazed frontage with extensive fitout by the tenant in line with their business requirements with rear access to a common loading area.

Partitioned stores, tea prep and w.c facilities are situated to the rear.

Area

Ground Floor: 174.1sqm (1,874sq ft)
1st Floor: 266.5sqm (2,868sq ft)
Total: 440.6sqm (4,743sq ft)

Investment Summary

Tenant: Specsavers Optical Superstores Ltd
Expiry: 22nd November 2028
Rent Review: 21st March 2025
Passing Rent: £26,000p.a.x.

Further Information: Specsavers Optical Superstores Ltd reported an annual turnover of £3.42 billion for the fiscal year ending February 28, 2023. This marks a slight increase of 1.1% from the previous year's turnover of £3.39 billion. Despite this increase in revenue, the company's operating profit decreased by 39%, from £453 million to £326 million, due to efforts to mitigate inflationary pressures and avoid significant price hikes for customers. As of 2024, Specsavers operates approximately 1,000 stores in the UK. This milestone marks a significant growth for the company, which has been expanding steadily since it first opened a practice in Bristol 40 years ago

Sale

The property is available on a freehold basis for offers over £260,000

V.A.T.

The property has been elected for V.A.T. as such the transaction may be treated as a T.O.G.C (transfer of a going concern)

Legal

Each party shall bear their own legal costs incurred in the transaction

Lease & Title

Available on request

Viewing

Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business

Anti-Money Laundering

In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time