Summary - 38, CHANNEL STREET TD1 1BA
1 bed 1 bath Commercial Property
Freehold shop with immediate income and clear reversion potential.
Long-established national tenant in situ over 20 years
A rare freehold retail investment on Galashiels’ primary shopping artery, currently let to a national multiple with a stable trading history. The tenant’s rent is £16,440 per annum, and the property occupies a very large ground-floor retail footprint of c.4,960 sq ft (c.461 sqm) in a high-footfall town-centre position.
Key strengths are the long-standing national occupier, immediate income, and clear scope to increase the rent: the current rent sits below the stated rateable value of over £23,000. The freehold title and very large retail area create alternative uses or subdivision potential for an owner willing to reconfigure the space.
Material drawbacks are significant and must be considered by buyers: there are only five years remaining on the current lease (extended 9/9/2024), which is likely to deter mortgage lenders and could limit buy-to-let finance options. The property will be sold at auction and is in a very deprived area, which may affect tenant pool and uplift prospects. Prospective purchasers should also factor in that future rental increases depend on market conditions and re-letting risk at lease expiry.
This lot suits a cash buyer or investor seeking an income-bearing town-centre asset with near-term lease expiry risk and upside via re-letting or repurposing. Due diligence is essential — review the lease, legal pack and local market trends before bidding.
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