Lot 98
    Commercial Property
    80/82 Channel Street
    Galashiels, Selkirkshire, TD1 1BD
    Sold for £125,000
     
    Number 1
    A Commercial Investment Producing £12,000 per annum with Approved Planning to Convert the First Floor to Provide 2 x Two Bedroom Flats

    Description

    The property comprises a mid terraced building arranged to provide a double fronted ground floor shop and and self-contained office to the first floor both also with access from Overhaugh Street.

    Tenure

    Freehold

    Location

    The property is situated on an established parade amongst the local shops and amenities in central Galashiels. Nearby multiples include Nationwide Building Society, Dominos and numerous other local traders. Transport links are provided by Galashiels rail station.

    Planning

    Scottish Borders Council granted the following planning in principle (Ref: 19/01778/CONALT) dated 19th December 2019 for:
    'Conversion of office/stores and alterations to provide 2no 3 apartment dwellinghouses'

    Current Rent Reserved

    Current Rent Reserved £12,000 per annum

    Addendum

    82 Channel Street is on the ground floor and the 5 Year FRI Lease started from 22nd June 2020

    Accommodation & Tenancy Schedule

    Property Floor Accommodation Tenancy Details Current Rent
    82 Channel Street Ground Shop (205 sq m / 2216 sq ft) 5 Year FRI Lease from 22nd June 2020 £12,000 per annum
    80 Channel Street First Office (130 sq m / 1400 sq ft) Vacant ERV £6,000
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