North Bridge Street
Hawick, TD9

North Bridge Street
Hawick,TD9

3 Bathrooms
Guide price:£170,000
Ends 15th August 2022 at 3PM
  • Traditional
  • Parking:Street
  • Council Tax Band:Unknown
  • Super development potential
  • Multi- Purpose site
  • Land to the rear and side
  • Multiple revenue streams
  • 0.15 acre site
  • Current tenants providing immediate return on investment
  • Town centre location
  • Potential yield of over 10%
  • Pre-auction offers welcomed
  • Independently valued at £185k

Description

Incredible opportunity to purchase substantial multi purpose building with land in the heart of Hawick in the Scottish Borders.

This property is currently being used for a number of purposes including a function hall, a gym, a dog groomers, storage and dry cleaners,  also included with this building is land to the side and rear which presents possible residential planning possibilities.  (All changes subject to investigating and gaining necessary consents).

The overall size of the lot, including the building is around 0.15 acres.

Independently valued by the VAS group at £185,000.00 in its current condition.

Current rents being achieved are as follows:-

Gym-£300pcm

Buddies dog groomer- £180pcm

Laundry- £150pcm

Garage - £150pcm

It is expected once the function suite is tenanted it will achieve up to £700pcm.

Once tenanted this would provide a monthly income of £1,480 and give an annual income of £17,760 and provide a potential yield of over 10%.  It should also be considered that the area to the rear could also offer an income stream or offer development opportunity.

Rateable value for building are:-

FUNCTION SUITE (including the dry cleaners and storage facility)- £5,400

SALON- £1,600

GYM- £3,200

This building is in a superb location close to the centre of Hawick.  Hawick is the largest of the Border towns and has a great range of shopping and leisure facilities, including for example major supermarkets such as Sainsbury's and Morrisons, and recently re-built Lidl. The beautiful Wilton Park and Leisure Centre are amongst a number of recreational amenities. The A7 provides a through-route to Edinburgh and south to Carlisle and the M6.

In the event of an offer being accepted the following charges will be payable immediately:-

Buyers Fee £3,000

Deposit to the sum of 10% of the sale price (subject to a minimum of £3,000)

 

EPC rating: C. Council tax band: X,

Location

Available
Areas

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Edinburgh

Beautiful Capital City of Scotland is a popular tourist and business destination all year round.  The property market in this fine Festival City has consistently remained buoyant for a good number of years and doesn’t show any signs of slowing down at any time soon.  Edinburgh is our hub for both the city and all surrounding areas from the scenic Scottish Borders to the commuter towns of and picturesque villages of Fife.

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Dundee

The wonderful City of Discovery has enjoyed a regeneration in recent years with the waterfront development on the banks of the Firth of Tay estuary at the heart of it.  Dundee benefits from a large Student population ensuring rental properties, in particular,  are always popular.  Moving south from Dundee is the Fair City of Perth while going the other direction North of Dundee you have the birthplace of Scotland, Angus.

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Aberdeen

The Granite City, as it is affectionately called, is a vibrant city with a large student population.  The city has benefited from the Oil industry with a number of large businesses headquarters being based there.  The Aberdeenshire area boasts some of the best beaches and coastal walks in the country.  With the rise in popularity of Staycations the rural settings of Aberdeenshire villages are sure to be popular in the coming years.

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