We are excited to bring to market this excellent Commercial Development Opportunity, located within a prime location in Hawick. *** RARE AUCTION PROPERTY ***
Building has potential to convert into residential units, subject to gaining necessary planning permissions and consents. The local area has seen some great residential sales recently showing strong demand. *** FANTASTIC DEVELOPMENT POTENTIAL ***
If Developed, property could potentially achieve GDV of £750,000 based on 5 flats at £150,000 each. This would generate a gross return on investment of 500%. Once developed, property could lend itself to a variety of uses such as Airbnb or Short-term lets. Subject to necessary planning and consents. *** RARE DEVELOPMENT OPPORTUNITY ***
If converted to short term lets, each property could achieve £140 per night, generating a collective annual income of £178,850 based on 70% occupancy. This would generate a gross yield of 178.85% if achieved for our guide price. *** POTENTIALLY HIGH YIELDING INVESTMENT OPPORTUNITY ***
Location
Nestled in the picturesque Scottish Borders, Hawick is a charming and historic town renowned for its rich textile heritage and vibrant local culture. As the largest town in the region, Hawick serves as a key economic and cultural hub, attracting both residents and visitors with its unique blend of tradition and modernity.
Surrounded by rolling hills and lush countryside, Hawick boasts a stunning natural setting while offering excellent connectivity to major cities like Edinburgh, Glasgow, and Newcastle. The town's strategic location on the A7 and its proximity to key transport links make it an ideal base for businesses seeking to tap into the wider Scottish and northern English markets.
Hawick is famed for its world-class cashmere and knitwear production, celebrated annually during the "Common Riding" festival, which draws crowds from near and far. The town’s bustling high street, lively community events, and welcoming atmosphere make it a dynamic place to live, work, and invest.
With ongoing regeneration efforts and a growing demand for commercial spaces, Hawick presents an exciting opportunity for development in a thriving and characterful setting.
Accommodation
Property was previously successfully run as the Former N Peal Factory and has fantastic potential to be turned into a variety of uses. Property comprises: factory sales floor: first floor and second floor. Property requires renovation to benefit from full potential.
Terms
Guide Price - £100,000
Property is due for auction in our upcoming timed online auction. For details on registration please contact the team.
Property is available for immediate purchase. Should you wish to place an offer today you can do so via our online offer form. For further details please contact the sales office.