Property to rent

BRIEF RESUME

- Extremely well positioned retail opportunity within Melrose Town Centre

- Prominent display front to Market Square

- Rarely available, sought after position

- Net Internal Area 55.81 sq m (579 sq ft)

LOCATION

The subjects are situated in a prominent position at 9 Market Place, within the heart of Melrose town centre. Market Place forms part of the town’s principal commercial core and accommodates a range of retail, leisure and service occupiers, benefitting from steady year-round footfall and an uplift in activity during the tourist season.

Melrose is a picturesque and historic Borders town, widely regarded as one of the most desirable settlements in the region. Located approximately 4.5 miles east of Galashiels, the town has a resident population of around 2,473 (2022 estimate) and serves a wider and relatively affluent catchment. Within a two-mile radius the population is approximately 8,100, expanding to over 39,000 people within a ten-mile radius, providing a solid base of both local and visiting customers.

Set within the scenic Tweed Valley and framed by the iconic Eildon Hills, Melrose attracts a strong and established tourism market. The town is best known for Melrose Abbey, founded in 1136 by King David I and one of Scotland’s most visited historic attractions. Melrose is also internationally recognised as the birthplace of Rugby Sevens, hosting an annual tournament that draws substantial visitor numbers and creates a lively atmosphere within the town centre.

The town offers an excellent range of local amenities, with a strong emphasis on quality independent retailing, hospitality and professional services, all of which contribute to Melrose’s reputation as a thriving and attractive place to live, work and visit. Connectivity is strong, with easy access to surrounding Borders towns and the wider road network via the A68 trunk road and A7 arterial route. Tweedbank Station, approximately 1.5 miles to the west, provides the southern terminus of the Borders Railway, offering regular direct services to Edinburgh Waverley and supporting commuter, tourist and business travel to and from the area.

DESCRIPTION

The subjects form part of a prominently positioned terraced block fronting Market Place, comprising the ground floor of a two-storey and attic Category B Listed building designed by George Washington Browne in 1897. Executed in red sandstone in the Free Renaissance style, the wider building presents an imposing three-bay composition with tall principal elevations and a distinctive shaped gable surmounted by an obelisk feature. The architectural treatment includes mullioned and transomed openings at first floor level. The attic incorporates a central three-light mullioned window set beneath a sculptured cartouche within the gable to the adjacent principal building. The building is further characterised by tall rendered and corniced chimney gables and a slate-covered roof.

This unit is situated within a lower two-storey wing the west, the block steps down following the curve of the road, incorporating ground floor shop unit with flat above. This section includes original detailing such as framed two-light transomed windows at first floor level and a traditional shopfront within the central bay. Roofs to this part of the property are pitched and slate clad, with straight skews and a rectangular corniced chimney stack.

The subjects themselves comprise a well-presented ground floor retail unit with a prominent display frontage to Market Place. The unit has been maintained to a high standard while retaining the traditional characteristics of the original façade. Internally, the accommodation is arranged to provide an attractive and adaptable retail space suitable for a range of occupiers. On-street parking is available on Market Square and High Street supporting accessibility and footfall.

The building forms part of a notable B-listed ensemble within Melrose town centre, contributing to the architectural interest and visual character of the Market Place streetscape.

ACCOMMODATION

The accommodation comprises:

Front shop, rear shop, storage area with tea preparation area and WC off

SERVICES

Mains electricity, water and drainage. Instantaneous water heater in the WC and electric fan heaters in the other rooms.

AREAS

The subjects have been measured in accordance with the RICS Code of Measuring Practice to the following approximate areas:

Net Internal Area: 55.81 sq m / 579 sq ft

In Terms of Zone A: 46.29 sq m / 498 sq ft

E and oe measurements taken with a laser measure.

RATEABLE VALUE

The subjects are currently assessed to a Rateable Value of £11,300 effective from 01-April-2023.

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 England and Wales (subject to application and eligibility). This relief is reviewed annually in accordance with the budget.

EPC

TBC

LEASE TERMS

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

VALUE ADDED TAX

Unless otherwise stated the prices quoted are exclusive of VAT. We are advised that the subjects are not elected to VAT.

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

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.

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).

VIEWINGS

Strictly by appointment only.

Edwin Thompson LLP

76 Overhaugh Street

Galashiels

TD1 1DP

[use Contact Agent Button] [use Contact Agent Button]

IMPORTANT NOTICE

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