40 Abbotsford Road, Galashiels, Borders, TD1 3HR

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Available / For Sale

McEwan Fraser Legal

Claremont House, 130 East Claremont Street, Edinburgh

10 bedroom commercial property for sale

£850,000 Offers over

10

Bedrooms

6

Bathrooms

2

Reception

Binniemyre Guest House was built in 1862 for a local mill owner and was originally called Eildon View, as at that time no other houses had been built in the area and the house had uninterrupted views to the magnificent Eildon Hills. The house was built for The Morrison family, who were one of many wealthy mill owners in the area. A common mental image of a Victorian property looks much like a dollhouse with elaborate trim and bright colours.However the term Victorian architecture actually refers to styles that emerged in the period between 1830 and 1910, during the reign of Queen Victoria. The Victorian era spawned several well-known styles, including Gothic revival, Italianate, Second Empire, Queen Anne, Stick Style, Romanesque style and shingle style.The Victorian styles evolved largely from the imposing, elaborate Gothic style, which appealed to the romantic Victorian idea that fashion, architecture and furnishings should be beautiful rather than a mere practical application; Binniemyre Guest House encompasses all that is great about the design and quality of craftsmanship that went into completing a building that today allows one to reflect back on what happens when design and quality come together to create such a magnificent period property.Binniemyre Guest House is only a five minute drive from Tweedbank Railway Station with over two hundred and fifty parking spaces.3 en-suite rooms each of these rooms contain 1 double bed and 1 single bed with the ability to have an extra single bed if required for families. The en-suites contain WC, wash basin and shower. These rooms are large, with seating areas, 22 TV/DVDs and wonderful views of the gardens from the large windows.2 rooms (not en-suite) 1 twin and 1 double/single. These rooms share the use of 2 large family bathrooms, one of which has both a 3/4 size roll top bath and a separate shower cubicle, and the other which has a standard bath and shower. Those without access to en-suite facilities are also provided with robes in their rooms.The Snooker Family Room (sleeps up to 6, not en-suite) This very large room (which once housed the family chapel) has 6 single beds, comfy seating areas, a 40 flat screen TV, fridge and the added bonus of a full-size snooker table in the middle of the room. Suitable for groups of up to 6 people or families. Very popular with golfers and mountain bikers.The Garden Family Room (not en-suite) This large room is at ground level and has 2 single beds with a large pull-out double sofa-bed. Facilities include a 40 flat screen TV, fridge and the added bonus of double doors leading out into the garden and summerhouse. This room is very popular with pet owners as they have direct access to the garden.Large private lounge, complemented by two large double bedrooms and private family bathroom with ample storage throughout this area and access to a stone original spiral staircase going down to a private dressing room within the basement itself. Binniemyres gardens have been prize-winning for the past eight years in the Galashiels in Bloom competition. For six of these years, we were awarded first prize. The gardens are set with a sweeping lawn and mature planting including wonderful rhododendrons which add a splash of colour in early Summer. The two 100 foot Canadian Firs stand tall and proud over the house and gardens and, for extra atmosphere, are floodlit in green when dusk falls.In the Summer months, the gardens and house become a riot of colour with in excess of 80 hanging baskets, window boxes and other floral displays. We also care for 40 fan-tailed doves, who might pay you a visit as you enjoy our various garden areas.On warmer days, youre welcome to use any of the five outside seating areas. Three are situated within flower-decked pergolas at various points around the house. There is a roof terrace with sun-loungers for the odd occasion in the Scottish summer where you may wish to sunbathe, this terrace is accessed via a wrought iron spiral staircase. Other areas include a seating area complete with umbrella situated next to the cooling and tranquil waterfall.Tenure-FreeholdServices-Water, Electric,Sewage all mains connected. Website-www.binniemyreguesthouse.co.uk

By appointment through McEwan Fraser Legal on 01896 800 440

McEwan Fraser Legal are open 7 days a week: 8am - Midnight Monday to Friday & 9am - 10pm Saturday & Sunday to book your viewing appointment.

Property comes complete with goodwill and all trade contents (according to inventory) but excluding personal items. Stock at valuation.

Nearest Stations:

0.81 miles
Galashiels
1.45 miles
Tweedbank
6.41 miles
Stow
18.75 miles
Gorebridge
20.79 miles
Newtongrange

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 703950

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 21250
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.

£

This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.

£

Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.

£

This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.

Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.

Annual Costs

£ 66450
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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This is the percentage of the rent that you will spend maintaining the property.

£

Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

£

Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

£

This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

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This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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