1 Silver St 7,153 sq ft Retail Property Hawick TD9 0AD £100,000 (£13.98/sq ft)

Being sold in collaboration with GOTO Auction.

A rare opportunity to acquire a well-established and highly regarded licensed premises in the heart of Hawick. The Exchange Bar offers a fantastic location and an excellent reputation within the local community, making it an ideal investment for those looking to enter the hospitality sector or expand their portfolio.

This property is for sale by Online Auction. The Online Modern Method of Auction is a flexible buyer friendly method of purchase. The purchaser will have 56 working days to exchange and complete once the draft contract is received by the buyer’s solicitor (or 10 working days after receipt of the buyer’s premium, whichever is earlier). Allowing the additional time to exchange and complete on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer with be required to put down a non-refundable reservation fee. The fee will be a fixed fee including the Vat, this secures the transaction and takes the property off the market. The buyer will be required to agree to our terms and conditions prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found on the online Auction website or requested from our Auction Department.

Please note this property is subject to an undisclosed Reserve Price which is typically no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Our primary duty of care is to the vendor. Terms and conditions apply to the Modern Method of Auction, which is operated by GOTO Auctions.

This attractive and fully operational bar is set in a prime position, benefiting from high foot traffic and strong local demand. The property boasts a spacious interior with a well-designed layout, featuring a welcoming bar area, comfortable seating, and stylish décor. There is also an inviting outdoor seating area, perfect for al fresco dining or enjoying drinks in the warmer months.

The premises offer a substantial ground floor space with further potential for development or reconfiguration. It’s a turn-key operation, fully equipped with all necessary fixtures and fittings, making it ready for immediate business operation.

The property features a spacious basement that spans the full size of the premises. This large area is currently used to house the kegs and offers ample additional space for storing equipment and supplies.

This property is for sale by Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer but will be given 56 working days in which to complete the transaction, from the date the Draft Contract are issued by the seller’s solicitor. By giving a buyer time to exchange contracts on the property, means normal residential finance can be arranged.

The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign a Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Info Pack which can be downloaded for free from our website or requested from our Auction Department.

Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyer’s Premium of 3.6% of the purchase price including VAT and a Legal Pack fee of £396 including VAT. This secures the transaction and takes the property off the market.

The Buyer’s Premium and administration charge are in addition to the final negotiated selling price.

Buyer Fees

There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:

• Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please?click here?for more information.