Auction House London

Lot 98

Commercial Property - Commercial Property 

80/82 Channel Street

Galashiels, Selkirkshire, TD1 1BD

Sold for £125,000

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

Additional Fees

Administration charge: £1,200 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

View Details as PDFEnquire NowRegister to Bid
Please refer to the shop opening times For further information, please register for the legal pack. For all enquiries, please contact Jamie Weir at jamie.weir@auctionhouselondon.co.uk
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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