Property

For Sale By Public Auction on 08 February 2024 starting at 08:30 AM - An Attractive Freehold Town Centre Commercial Investment With The Benefit Of Planning Permission To Convert The First Floor To Provide Two Apartments in the future
Current Rental Income £17,000 PA



The property comprises an attractive mid terraced building configured to provide a double fronted retail unit extending to approximately 2,216 sq.ft (205 sq.m) occupied by the Border Animal Welfare Association trading as Border Pet Rescue.
The first floor comprises of vacant offices extending to approximately 1,400sq. ft (130 sq.m).
We have not undertaken a measured survey of the premises and all interested parties should seek their own verification of floor areas and dimensions.

Location
The property occupies a prominent frontage to the southern side of Channel Street within a vibrant mix of local and national operators.
Within the vicinity there is the Pavilion Cinema, Tesco Extra, Argos, Boots, Subway, Lloyds Pharmacy and a Nationwide Building Society. Galashiels railway station is a short walk from the property.
Galashiels is a popular and well established Scottish Borders commuter town situated approximately 27 miles south of Edinburgh and 18 miles to the east of Peebles. The town forms a major transport network for the Scottish borders with links to Edinburgh and Carlisle via the A7 and to Newcastle by the A68.

Energy Performance Rating
E

Tenure
Freehold:
80 & 82: Retail- The property is let by way of a 5 year full repairing and insuring lease to the Border Animal Welfare Association trading as Border Pet Rescue with effect from 22nd June 2020, at a rent of £17,000 per annum.
A copy of the lease and rent review documentation will be available within the legal pack.


Planning
The property benefits from planning permission in principal, granted by the Scottish Borders Council (Ref: 19/01778/CONALT) dated 18th December 2019 and extended on the 18th August 2023 to convert the first floor office to provide two apartments.
Copies of the planning permission and extension notice will be available within the legal pack.

Value Added Tax
VAT is not chargeable on this transaction.

Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.

Viewing Times
Strictly by appointment with the Auctioneers.

Live-streamed Auction
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction.

Disclaimer
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information or on the Bond Wolfe’s website.

*Definition of Guide Price and Reserve
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneer's expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

Costs at Auction
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,920 inc VAT (£1,600.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.

Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations. The legal packs and further information about buying at auction are available on the Bond Wolfe’s website.