Summary - 38, CHANNEL STREET TD1 1BA
1 bed 1 bath Commercial Property
Auction lot with retail income and approved residential conversion potential.
- Freehold town-centre building with approx 4,960 sq ft total
A rare large freehold commercial opportunity in Galashiels, offered at auction with immediate income and clear development upside. The ground floor is a long-established Savers store (tenant for over 20 years) paying £1,370 pcm (£16,440 pa) with rent guaranteed until at least September 2029. The sizeable retail area and central town-centre location deliver strong footfall and visible retail demand.
Planning permission (ref 22/00896/FUL) is granted for five flats on the upper floors, creating a clear route to add significant residential value or rental income. Converted upper floors could generate material additional annual income or sales receipts, subject to specification; this provides a typical developer or investor play — low current rent with future reversion potential.
Buyers should note material constraints: the tenant has only extended the lease for a further five years (expires 2029), and mortgage lenders commonly refuse lending on properties with limited unexpired lease terms. The property sits in a very deprived area, which may affect re-letting or sales values for future residential units. The sale is by auction and offered freehold, so purchasers must factor in auction conditions, the short lease term, and conversion costs when assessing value.
Practical positives include excellent mobile signal, fast broadband, no flood risk, and a generous footprint (approx 4,960 sq ft) giving flexible layout options. This asset suits an investor or developer prepared to manage lease and finance risks to realise the planning-permission upside.
Commercial property for sale in 38 Channel Street, Galashiels, Scottish Borders, TD1 1BA, TD1 — £144,000 • 1 bed • 1 bath • 4960 ft²
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Mixed use property for sale in Channel Street, Galashiels, Selkirkshire, TD1 1BA, TD1 — £20,000 • 1 bed • 1 bath • 1323 ft²
