The building comprises a former cinema, first opened in 1934 as part of the Paramount Cinema chain. It is an Art Deco building with a highly prominent curved frontage. Internally the space comprises open plan sales with stair access to the basement.
The property is available to an agreed shell specification, where any alterations will be subject to Listed Building Consent.
Location
Glasgow is Scotland’s largest city, with a population of approximately 660,000 people and is the largest retail centre outside of London, with a shopping catchment in excess of 2 million people. Glasgow is also one of Europe’s top 20 financial centres, with many headquarters located in the city.
The subjects occupy a highly prominent position on the corner of Renfield Street and West Nile Street, within the heart of the Central Business District and established leisure circuit. The area immediately surrounding the subjects has been transformed in recent years. The Buchanan Quarter, along with Buchanan Gardens, was completed in 2013 which saw significant regeneration and investment in to this location, creating 10 new retail outlets and 49 luxury residential apartments.
2 West Regent Street completed in 2012 and offers 78,000 sq ft of Grade A office space, with leisure over ground. Neighbouring the subjects is 1 West Regent Street, Mountgrange and PRUPIM’s 143,000 sq ft mixed use Grade A office and leisure development, which completed Summer 2015.
Occupiers in the immediate vicinity include, Starbucks, Wagamama, Revoloution Bar and a host of blue chip office occupiers.
Accommodation
The subjects are arranged over ground and basement. There is the possibility of incorporating upper floors, as well as existing retail units on Renfield Street.
Basement - 3,014 sq ft (280 sq m)
Ground Floor - 3,240 sq ft (301 sq m)
Total - 6,254 sq ft (581 ssq m)
Terms
Rent - On request from the joint leasing agents
Planning - The subjects benefit from a Class 3 restaurant consent.
VAT - All rents, prices and premiums etc are exclusive of VAT
Legal Costs - Each party will be responsible for their own legal costs and the purchaser will be responsible for the payment of any LBTT, incurred in the transaction.
Lease - Available to lease on new Full Repairing and Insuring lease terms, for a period to be agreed.