Bank Street’s original name was Scott’s Place but became Bank Street in 1825 when the National Bank, now the Royal Bank of Scotland, took premises in the town. The beautiful red sandstone pillars were erected in 1907 by public subscription to show the town’s pride in the land, which was gifted by the proprietors of the houses in Bank Street for redevelopments to form public gardens.

This land was gifted to Galashiels Town Council shortly after the Second World War and was laid out in conformity with proposals put forward by Alfred T. Harrison, Superintendent of Parks with Edinburgh Corporation. Today, the gardens play an important role in attracting visitors to the town and are planted out twice each year with long, sweeping, colourful displays set within well-maintained lawns. Parts of the Mill Lade run through the back of the gardens.