Market Street, Galashiels

Description

Prime Town Centre Position

Excellent Frontage

Net Internal Area 40.60 sq m (437.01 sq ft)

Class 1 (Retail) Under General Permitted Development Rights

Rental Offers Over £7,500 per annum Ref. N173(7)

Description

Situated opposite the busy thoroughfare of Green Street, 30 Market Street is a single fronted retail unit with an off-set entrance door. The first floor accommodation also provides office space or storage.

Established Use of No.30 is understood to fall within Class 1 (Retail) of the Town and Country Planning (Use Classes) (Scotland) Order 1997.

Areas

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

Ground floor - 20.10 sq m (216.36 sq ft)

First floor - 20.50 sq m (220.66 sq ft)

E & oe measurements taken with a laser measure.

Accommodation

Ground floor: Front shop, wc & stairs to first floor.

First floor: Office/storage space.

General Information

30 Market Street is situated in a prime trading position within Galashiels town centre which benefits from a high level of footfall and passing trade.

Galashiels, once famous for its textiles, is now one of the largest towns in the Scottish Borders having a population of approximately 14,000. Its central location in the Borders means Galashiels is generally considered to be the principal administrative, retail and social centre for the region, effectively serving a population in excess of 110,000. The town also benefits from a significant student population with campus’s of the Heriot Watt University and Borders College within the town.

In recent years Galashiels has been subject to considerable investment. Developments have included the Gala Water Retail Park, two new supermarkets to the east of the town centre and significant transport infrastructure works.

The infrastructure works have included the Galashiels inner relief road and, the Borders Railway link which has re-established passenger services between Edinburgh Waverley and the Central Borders. The journey time from Galashiels to Edinburgh city centre is approximately 55 minutes, with departures every 30 minutes. On weekdays the first train departs from Edinburgh at 0545, the last at 2355.

The town features a wide range of High street and out of town retailing, restaurants, cafes and local amenities. Nearby non-domestic occupiers include Bulldog Bakehouse, SBS Edingtons Solicitor, Why Not, Geek Retreat, Lids Barber, Lloyds Pharmacy, A Symington Quality Footwear, Border Podiatry and Performance, WH Smith, Post Office, Santander and Savers.

This Opportunity is well positioned to capitalise on the £6.7 million Great Tapestry of Scotland Development which is anticipated to generate an additional 50,000 visitors each year.

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Services

Mains electricity, water and drainage.

Rateable Value

According to the Scottish Assessor’s Association Website this unit is assessed to a Rateable Value of £3,212 per annum effective from 01-Apr-2023.

Small Business Rates Relief Scheme (SBRR) is currently understood to provide up to 100% rates relief for units with a rateable value of £15,000 or less based on the combined total of all the occupiers business premises within Scotland (subject to application and eligibility).

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.

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.

Entry

1st February 2023

Viewing

By appointment with the sole agents:

Edwin Thompson, Chartered Surveyors

76 Overhaugh Street

Galashiels

TD1 1DP

Tel. 01896 751300

E-mail: s.sanderson@edwin-thompson.co.uk