Spread the balance over 10 years or buy outright.
No mortgage required.
Ground floor studio flat in Hawick.
Requires light refurb to get into a rentable condition.
Buy outright or spread over 10 years.
Priced at only £39,000 and payable over 10 years at £325 per month.
Could rent out for approx £80-£90 per night short term or around £250 per month long term.
The property is located in the centre of Hawick - walking distance to the local amenities in the town.
Hawick's strategic location also adds to its investment appeal. Situated close to the English border, the town benefits from its proximity to major cities such as Edinburgh, Newcastle, and Carlisle. This accessibility enhances the town's connectivity and potential for attracting both residents and businesses.
Hawick, a town in the Scottish Borders region, has a diverse economy that has evolved over the years. Historically, Hawick was known for its thriving textile industry. While the textile sector remains an important part of the local economy, Hawick has also seen the emergence of other industries and economic activities.
The textile industry in Hawick has a long and rich history. The town has been producing textiles since the 18th century, and today it still boasts several textile mills and manufacturers. The industry has adapted to changing market demands and modernized its production techniques to remain competitive. Many renowned brands and designers source their materials from Hawick, contributing to the town's reputation for producing top-quality textiles.
In addition to textiles, Hawick has seen growth in sectors such as tourism and retail. The town's rich cultural heritage, including its historic landmarks, museums, and annual events, attracts visitors from both within the UK and abroad. This has led to the establishment of hotels, guesthouses, restaurants, and other tourism-related businesses, providing employment opportunities for local residents.
The retail sector in Hawick has also experienced growth, with a variety of shops and stores catering to the needs of both residents and tourists. The town center is home to a mix of independent retailers and well-known national chains, creating a vibrant shopping destination.
Furthermore, the service industry plays a significant role in Hawick's economy. The town has a range of professional services, including legal, financial, and consulting firms, serving both local clients and those from surrounding areas. Additionally, healthcare and education sectors provide employment opportunities, with hospitals, medical centers, and schools serving the local population.
Efforts have been made to promote entrepreneurship and support small businesses in Hawick. Local initiatives, such as business incubators and networking events, aim to foster innovation and create a favorable environment for startups. This helps diversify the economy and encourages the growth of new ventures in various sectors.
Overall, Hawick's economy is a blend of traditional industries and emerging sectors. The town continues to build on its heritage in textiles while embracing new opportunities in tourism, retail, services, and entrepreneurship. Through these efforts, Hawick aims to maintain economic stability, create job opportunities, and ensure a prosperous future for its residents.