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March Street Mill, March Street, Peebles, EH45 8ER
Offers Invited
For Sale
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LOCATION

Peebles is an affluent and thriving market town in the Scottish Borders set on the River Tweed and is surrounded by magnificent countryside. 

With a resident population of around 10,000 people, it lies approximately 25 miles south of Edinburgh (via Edinburgh Road A703) making it popular with commuters and visitors. 

The town’s high street features an eclectic range of local, national and independent retailers such as Costa Coffee, Boots, Greggs, Bank of Scotland, Time & Tide and Trespass.

An array of outdoor pursuits are available nearby including golf, fishing and hillwalking whilst the world-renowned mountain biking location of Glentress Forest is situated 2 miles to the east of the town.

The subject property is situated on March Street, approximately 300 metres to the north of the town’s High Street. The site benefits from additional access points from Dovecot Road to the east, Rosetta Road to the west and Ballantyne Place to the north.

With the exception of a Tesco supermarket on the site’s eastern fringe and a small industrial estate to the north, the surrounding area is residential in nature with a mix of terraced, detached, flatted and semi-detached properties.

DESCRIPTION

March Street Mill occupies an irregular shaped site of around 2.24 hectares.  Forming the core of the site is a complex of large, low-rise mill buildings bordered to the west by an area of garden allotments.  

The Engine and Boiler Houses are to the north; Tenter Sheds, pond, filter beds and associated tanks are located to the east whilst the Administration Building and Gatehouse, set either side of the main entrance, are both to the south.

The original mill complex dates from the late 19th century with additions and extensions in the early 20th century. The phases have been constructed in a range of materials including brick, render and stone.  The principal mill building is single storey and sits beneath a saw-tooth profile roof.

The Administration Building, arranged over ground floor and a raised basement, is single storey set beneath a slate roof, whilst the adjoining Gatehouse is single storey with a steep pitched roof.

The allotment gardens, known locally as the Rosetta Road Allotments, occupy around 0.47 Ha (1.16 acres) – approximately 21% of the whole site, and benefit from their own secure gated access off Rosetta Road.

There are notable changes in level between the mill buildings and the eastern area of the site adjacent to Dovecot Road.

HISTORY OF MARCH STREET MILL

March Street Mill is a former woollen mill which was built around 1884 by David Ballantyne. A second member of the Ballantyne family, Henry, opened another mill in the nearby village of Walkerburn.  Together the Ballantyne businesses employed around 700 people across the two facilities.

During the war years, March Street Mills focused on supplying textiles to the military. In response to rationing the land behind the mill complex was turned over to allotments by David Ballantyne for employees and retired workers.

Over the ensuing decades, the site has passed through various ownerships and eventually the mills stopped turning in 2015 with production relocated elsewhere.

ACCOMMODATION AND SITE AREA

According to our recent measurement survey the premises contain the following approximate gross internal areas:

Area

Sq M

Sq Ft

Gatehouse, Administration Building and Principal Mill Buildings

8,746

94,125

Engine House and Boiler House

1,049

11,287

Tenter Sheds

181

1,944

 

 

 

Total Approximate GIA

9,975

107,356

According to our measurement the site extends to around 2.26 hectares (5.6 acres).

TERMS

Offers are invited for our client’s interest.

Our client’s preference is to receive unconditional offers however they are willing to consider proposals which are subject to planning.

TENURE

Heritable (Scottish equivalent of freehold).

VAT

We have been advised the site is not elected for VAT.

TOWN PLANNING

We understand the property is currently a Factory compliant with Use Class 5 (General Industrial) of the Town and Country Planning (Use Classes) (Scotland) Order 1997. 

The property is situated within the Peebles Conservation Area and according to Historic Scotland none of the buildings on the site are listed.

Interested parties who are considering alternative uses are invited to make their own enquiries with the planning department of Scottish Borders Council.

UTILITIES

The site is served by mains electricity and includes a sub-station which, due to the historic nature of the site, carries a significant power supply.  In addition, the site is connected to mains gas and water.

The Mill Cottage has its own separate supplies.

RATEABLE VALUES/COUNCIL TAX BAND

According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £142,500 (effective 1st April 2017). 

The uniform business rate for properties whose rateable value exceeds £95,000 is 52.4 pence in the pound. 

The Mill Cottage has a Council Tax band ‘C’.

ENERGY PERFORMANCE CERTIFICATE

The EPC rating is pending.

A copy of the recommendation report is available on request.

LEGAL COSTS

Each party shall bear their own legal costs with the eventual purchaser liable for any Land and Building Transaction Tax (LBTT), VAT and Registration Dues.

VIEWING AND FURTHER INFORMATION

By appointment through the joint selling agents, Allied Surveyors Scotland plc and Cullen Kilshaw.

Iain W. Mercer BA, AssocRICS
Director of Commercial Agency (East)

0131 357 4455 / 07133 626 887
Iain.mercer@alliedsurveyorsscotland.com

Bernadetta Majewska BSc (Hons)
Graduate Commercial Surveyor

0131 357 4455 / 07917 924 112
Bernadetta.majewska@alliedsurveyorsscotland.com

David Kilshaw
Managing Director

Cullen Kilshaw

01896 800800
David@cullenkilshaw.com

Lauren Brown
Sales Negotiator
Cullen Kilshaw

01450 372 336
lauren@cullenkilshaw.com

 

  • An extensive brownfield development site in Peebles town centre
  • Comprising a complex of former mill buildings, allotments and associated land
  • Occupying on overall site area of approximately 2.24 Ha (5.6 acres)
  • Situated 25 miles south of Edinburgh City Centre
  • Potential for residential or mixed-use development (subject to securing the necessary planning consents)
  • Offers invited for our client’s heritable interest
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