Property to rent

BRIEF RESUME

Prominent town Centre Position

Excellent frontage onto High Street

Net Internal Area 54.74 sq m (589 sq ft)

ITZA 40.91 sq m (440 sq ft)

DESCRIPTION

A ground floor unit forming part of a two-storey terraced property located on the corner of Bank Street and High Street.

The unit benefits from a modern plastisol coated aluminium framed display window incorporating an offset entrance door with a transom window above. The building is of cavity construction with a rendered finish to the first floor.

Internally, the property is well presented throughout, featuring laminate timber-effect flooring, emulsion-finished walls, and plasterboard ceilings. Lighting is provided by surface-mounted LED fittings. The unit is currently fitted out as an office and is arranged on a split-level basis, with six steps leading up from the front shop/office area to a rear shop/general office.

The property further benefits from Cat 5/6 perimeter trunking and 13-amp power sockets.

AREAS

The subject has been measured in accordance with the RICS Code of Measuring Practice to the following Net Internal Areas:

Net Internal Area: 54.74 sq m (589 sq ft)

In Terms of Zone A: 40.91 sq m (440 sq ft)

LOCATION

The subjects are situated on Bank Street in a prominent position within the principal retail area serving Galashiels Town Centre.

Galashiels and District has a population of approximately 14,970 according to the 2021 Mid-Year Population estimates compiled by National Records of Scotland a small increase in relation to the population recorded at the 2011 Census (14,590).

Situated within the Central Scottish Borders, Galashiels is one of the largest Towns in the region. It is generally considered to be the principal administrative, social and retail centre effectively serving a population of in excess of 116,020.

There is a significant student population within the town with campuses of Heriot Watt University and Borders College approximately 1 mile to the east at Netherdale. Borders General Hospital also has close training ties with eh Edinburgh Universities.

In recent years Galashiels has benefited from considerable public and private investment. Developments have included the Gala Water Retail Park, two new supermarkets to the east of the town centre and significant transport infrastructure works including the Galashiels Inner Relief Road, and the Borders Railway link re-establishing passenger services between Edinburgh Waverley and the Central Borders.

The journey time from Galashiels to Edinburgh city centre by train is approximately 55 minutes with departures every 30 minutes. On weekdays, the first train departs from Edinburgh at 05.45 with the last at 23.55.

ACCOMMODATION

The subjects are currently configured to provide:

Reception office with meeting room off, six steps up to general office, WC with separate lobby, kitchen with external door/ fire escape to the rear.

RATEABLE VALUE

The subjects are assessed to a Rateable Value of £6,100 effective from 01-April-23.

It is anticipated that the property will be reassessed to a Rateable Value of £7,200 as of 01-Apr-26.

Small Business Rates Relief Scheme (SBRR) currently provides up to 100% rates relief for units with a Rateable Value of £12,000 or less based on the combined total of all the occupiers business premises within Scotland (subject to application and eligibility). This relief is reviewed annually in accordance with the budget but is current for this Financial Year. The Rateable Value for the subjects is currently well below this threshold.

LEGAL COSTS

Each party will be responsible for their own legal costs incurred in connection with this transaction.

In the normal manner, the in-going tenant will be liable for any land and buildings transaction tax, registration dues and VAT thereon.

VALUE ADDED TAX

Unless otherwise stated the prices quoted are exclusive of VAT.

Any intending tenants must satisfy themselves independently as to the instances of VAT in respect of any transaction.

LEASE TERMS

Available by way of a Full Repairing and Insuring lease. Terms by negotiation.

EPC TBC

PLANNING

Established Use is understood to be Class 1A of the Town and Country (Use Classes) Scotland Order 1997 (as amended) which incorporates former Class 1 (Retail), Class 2 (Financial, Professional and Other Services). Class 1A also has permitted development rights for change of use to Class 3 (Hot Food) and Class 4 (Business).

VIEWING

By appointment with the sole agents.

Edwin Thompson, Chartered Surveyors

76 Overhaugh Street

Galashiels

TD1 1DP

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IMPORTANT NOTICE

Edwin Thompson for themselves and for the Vendor of this property, whose Agents they are, give notice that:

1. The particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, any offer or contract.

2. All descriptions, dimensions, plans, reference to condition and necessary conditions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to their correctness.

3. No person in the employment of Edwin Thompson has any authority to make or give any representation or warranty whatsoever in relation to this property or these particulars, nor to enter into any contract relating to the property on behalf of the Agents, nor into any contract on behalf of the Vendor.

4. No responsibility can be accepted for loss or expense incurred in viewing the property or in any other way in the event of the property being sold or withdrawn.

5. Edwin Thompson is the generic trading name for Edwin Thompson Property Services Limited, a Limited Company registered in England and Wales (no.07428207). Registered office:28 St John’s Street, Keswick, Cumbria, CA12 5AF