Channel Street, Galashiels, Scottish Borders, TD1 1BJ
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- SIZE
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- SECTOR
Commercial property for sale
Key features
- Incredible investment opportunity in popular commercial location
- Potential yearly income in excess of £50,000
- Potential Yield in excess of 30%
- Upstairs office space
- 17,500+ sqft town centre commercial space
- 33 miles from Edinburgh City Centre
- High footfall location
- Partly pedestrianised street
- Excellent location offering potential for multiple uses
- Low cost investment opportunity offering potentially excellent yield
Description
Massive, 17,500sqft commercial property in popular Scottish borders town of Galashiels. Potential rental income in excess of £50,000 per annum representing an incredible potential yield of 30%.
The property is comprised of a huge downstairs commercial unit and a generously sized upstairs office space. Planning has already been approved by the Scottish borders council planning department to subdivide the property into 3 independent units.
Rental income for commercial units in the street averages between £15,000 and £17,000 per annum depending on size and usage representing a potential income of £45,000- £51,000 per year giving an outstanding return on investment in HIGH DEMAND location.
The planning application can be seen on their website using planning reference number 22/00787/FUL. There is also planning permission approved for windows to be installed at the rear and side of the property to give any potential investor multiple options with how to develop the property. This can be seen using planning reference number 24/00907/FUL.
The council have also approved planning permission of other properties of a similar size and make up within the street to be converted into residential properties. This is something that could be explored with the planning authority further highlighting the properties potential and versatility.
Channel street is the main commercial street in the town. It is partially pedestrianised and so experiences a very high volume of foot traffic. Galashiels enjoys massive demand due to the great leisure and retail amenities and being a great commuter town with well connected roads leading to the A7 offering a 33 mile drive to Edinburgh City Centre.
Perfect location only a 4 minute walk to both the train and bus stations then a 2 minute walk to Tesco or 4 minutes to Asda to name a few of the major retailers within a stones throw from this property emphasizing why there is such high demand for residential developments in this location.
This lot will be sold under auction terms and conditions by Braveheart Auctions.
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Incredible investment opportunity in popular commercial location
Potential yearly income in excess of £50,000
Potential Yield in excess of 30%
Upstairs office space
17,500+ sqft town centre commercial space
33 miles from Edinburgh City Centre
High footfall location
Partly pedestrianised street
Excellent location offering potential for multiple uses
Low cost investment opportunity offering potentially excellent yield
Channel Street, Galashiels, Scottish Borders, TD1 1BJ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Galashiels Station0.1 miles
- Tweedbank Station2.1 miles
Notes
Disclaimer - Property reference 445FH. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Braveheart Auctions Limited, Edinburgh. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Braveheart Auctions Limited, Edinburgh on 0131 381 5170.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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