SALE BY ONLINE AUCTION THURSDAY 14TH JULY 2022 AT 9.00AM. Online Property Auctions are delighted to offer this commercial unit in Hawick High Street - currently let for £3000pa with a rental yield of 10.3% at Guide Price.
• Fantastic Opportunity to acquire a High Yielding Property in Hawick Town Centre***Current Rental Income of £3,000 pa***Gross Yield of 10.3% based on Guide Price***
• In 2019 Plans were announced to invest over £50 million to refurbish properties in selected town centres in Scotland - Hawick being one of them. 24 High Street is one of six iconic buildings in Hawick to benefit from the scheme funded by Historic Environment Scotland, Scottish Borders Council and the South of Scotland Economic Partnership***
• Hawick, the largest of the Border towns, with a population of over 14,000 lies on the banks of the River Teviot. The town is famous for its common riding, rugby and fine cashmere companies such as Hawick Cashmere, Johnstons of Elgin, Lyle & Scott, and Pringle of Scotland. The town also provides an extensive choice of amenities ranging from a leisure centre, a variety of specialist independent shops including small supermarkets, and a selection of restaurants and hotels, mostly situated around the High Street.
• The annual Common Riding, which is one of the oldest Border festivals combines the annual riding of the boundaries of the town's common land with the commemoration of a victory over an English raiding party in 1514. Hawick is also well known for its rugby at Mansfield Park, home of Hawick Rugby Football Club, plus its events in the town which include the Summer Festival and the Hawick Reivers Festival.
• Local attractions include the Borders Textile Towerhouse, the Three Stills Distillery, and Wilton Lodge Park, offering fabulous riverside and tree-lined walks, as well as a walled garden. The Hawick Museum and Scott Gallery also detail the town's history and provide a venue for visiting exhibitions.
• There are also a variety of outdoor pursuits across the region that include fishing on the River Teviot and River Tweed, fieldsports, horse riding, golf with a course in Hawick, lawn bowling, mountain biking, and a selection of nearby walks including the Southern Upland Way, St. Cuthbert's Way and The Borders Abbeys Way. There is also a good choice of primary schools available with secondary schooling at Hawick High School.
• The A7 which runs through Hawick provides excellent links to Edinburgh or the north of England. The area is also served by the Borders Railway which runs from Tweedbank to Edinburgh, with the station lying approximately eighteen miles away. There is also a busy bus service with links to Carlisle, as well as Edinburgh and the other Border towns.
The nearest major airports are at Edinburgh and Newcastle, which are both around 57 miles away offering flights across the UK and to a number of European and International destinations
• Recent Sales Include**78 High Street Sold £39k (Jun 18)**43 High Street Sold £62.5k (Sep 16)** 15 High Street Sold £68.5k (Sep 16)
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Tenanted Commercial Unit
10.3% Yield at Guide Price
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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