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See how verdicts work2-bedroom flat · TD9 0BQ
Under offerListed 46 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Peter Scott knitwear factory has had a long association with the town of Hawick dating back to the 1800s.
Located at their Buccleuch Street premises for many a year, until its closure a few years ago, due to the decline in knitwear manufacturing throughout the country.
The factory was purchased in recent times by Pesco Developments Ltd, with a view to turning the former knitwear premises into luxury over 55s apartments.
The first phase of properties came to the market in 2021 and sold straight away. We are delighted to say that one apartment has now come back to the market.
Apartment 9, is a large bright spacious property, with a flat walk-in access , it can also be accessed from the private undercover parking space , by lift or stairs.
The accommodation comprises; Entrance Hallway, open plan, living/dining/kitchen, master bedroom, en-suite shower/wet room, bedroom 2 and bathroom. In total around 98 SQM of living space.
Finished to a very high specification, including tiled bathrooms, and quality kitchen, with all integrated white goods and marble work tops. Neutral decoration and quality floor coverings throughout.
There is a large balcony that can be accessed via the sliding doors in the living area. Also benefitting from CCTV entrance cameras and hard wired smoke alarms.
The development is accessed via an electric security gate, controlled from each apartment along with a small gate for pedestrian access.
Hawick has long been crying out for such a development, a safe secure residence where like-minded over 55s, can enjoy quality living in a peaceful environment.
Many mature couples live in large family houses, a high proportion of which are on the boundaries of the town or at the top of a hill, due to the very nature of the towns layout.
Most have large gardens, which they now struggle to maintain, or perhaps they reside near a river and have fear of flooding, all points that we have heard people make in the last few years.
At Pesco Mills, you will have none of these concerns; you will be living in a safe, secure development, with your own private parking space, landscaped gardens, easy flat walking access to the town centre, beside like-minded people.
There is a monthly residents service charge of £89 which covers, building insurance, external lighting, cctv, electric gates, roofing costs, general maintenance and cleaning of communal areas.
At least one person on the title deeds must be aged 55 or over. These apartments very rarely come to the market, so early viewing is advised.
Value & comps
Land Registry doesn’t cover Scotland or Northern Ireland, so previous sales may not be on record.
Returns
Set an offer; the calculator follows it.
Short-let licence or registration needed
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About 9, Pescos Development Hawick, TD9 0BQ
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