FOR SALE BY ONLINE AUCTION THURSDAY 11TH AUGUST AT 9.00AM. Vacant one bedroom ground floor flat - estimated potential rental income of £400pcm providing a yield of 12% at Guide Price. Ideal investment opportunity with massive 33% discount against Home Report valuation.
The property is comprised of an entrance hallway which leads to the bathroom, a storage cupboard, and the living room. Another hallway branches off from the living room and leads to the kitchen and bedroom. Estimated potential rental value is in the region of £400-£450 per month, providing a yield between 12 and 13.5% based on the Guide Price.
Massive 33% discount against Home Report valuation of £60,000!
Nearby Sales include:
• One bedroom flat, 92 Thistle Street - Sold for £77,000 Sep 19
• One bedroom flat, 10 Meigle Street - Sold for £69,000 Jul 20
• One bedroom flat, 79 Victoria Street - Sold for £65,000 Apr 22
• One bedroom flat, 73 Victoria Street - Sold for £63,000 Jun 20
• One bedroom flat, 81 Victoria Street - Sold for £57,500 Dec 21
• One bedroom flat, Gala Park - Sold for £69,000 Jul 20
Galashiels is a busy town on the A7 road from Carlisle to Edinburgh. The town's most striking building, the Burgh Chambers. Originally built in 1867, the impressive clock tower added in the 1920s incorporates the town's war memorial and includes a beautiful statue of a mounted border reiver.
Today's Galashiels has successfully diversified away from its old dependence on textiles. One sign of this is found in the large headquarters on Bridge Street of Scottish Enterprise Borders. Elsewhere in the town, companies have set up engaged in fields as varied as medical research; software development; the production of leather clothing; and fish processing.
Galashiels has also very successfully improved its transport links in recent years. The "Waverley Route" railway from Carlisle to Edinburgh via Hawick and Galashiels opened for business in 1849. Galashiels Station was closed in 1969 with the rest of the line, but in September 2015 part of the route came back into use when the rebuilt "Borders Railway" opened, linking a new transport interchange in Galashiels with Edinburgh.
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Vacant One Bedroom Flat
Estimated Rental Income in the region of £400-450pcm/Yield of 12-13.5% at Guide Price
Ideal Residential Investment
* 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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