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Fully Let Townhouse Building, 201 Bath Street, Glasgow, G2 4HZ

3,764 Sq Ft / Offices

For Sale - £465,000.00

Under Offer - Last updated: 01 December 2022

The property comprises a prominent three storey, semi basement floor and attic building, the semi-basement having a self-contained access and stair on Bath Street while the main entrance to the building is via an imposing pillared access.

The ground floor is accessed via glass doors leading to a large open plan office. There is access to a shared kitchen at the rear and a designated toilet on the 1st floor for the sole use of the ground floor tenant. The office has a carpet floor finish, painted walls and ceiling including ornate cornicing detail with lighting from a mix of stylish pendant and wall mounted fittings. The tenant has formed interview rooms to the rear as part of their fit out. All floors are heated from a gas fired central heating system to radiators.

The 1st floor comprises a very impressive open plan office to the front with full height sash and casement windows providing excellent natural daylight. There are two private offices together with a designated toilet. The highlight of the 1st floor accommodation is the feature ceiling containing fabulous cornicing design and paintwork. There is carpet flooring throughout with stylish wall mounted uplighters and chandelier style pendant fittings.

The 2nd floor comprises refurbished accommodation arranged as a well designed reception / entrance area with a large office and 2 private offices and a WC. The offices incorporate glass partitioning providing a modern feel and finishes include carpet flooring, plaster walls and ceiling with integrated downlights. From the 2nd floor there is access to attic storage.

The semi basement floor has a self contained access via stairs from Bath Street, together with an internal staircase from the ground floor. The floor is arranged to provide a reception office, large open plan office, storage rooms, kitchen and a WC.

There are two tandem car spaces located to the rear of the buildings.

Location

The office occupies a prominent corner location on the south side of Bath Street at the junction with Douglas Street in the heart of Glasgow city centre and benefits from excellent access to the M8 motorway via Charing Cross.

Bath Street around Blythswood Hill is a popular office location with the accommodation largely comprising townhouse offices.  In addition, the subjects are located close to the renowned retailing thoroughfares, Sauchiehall Street and Buchanan Street.

The location offers excellent bars and restaurants on its doorstep such as Palomino’s, Moskito, Tiki Bar & Kitsch Inn, in addition to the Kimpton Blythswood Hotel, Dakota, Malmaisson and Novotel nearby.

Metered on-street parking is provided locally while numerous multi-storey car parks can be found nearby.

Excellent public transport links are also provided with numerous bus services operating on Bath Street whilst Cowcaddens Subway Station and Charing Cross Railway Station are both a short walk away.

Accommodation

Semi Basement floor: 785 sq ft (72.91 sq m)

Ground floor: 940 sq ft (87.4 sq m)

1st floor: 1,025 sq ft (95.26 sq m)

2nd floor: 1,014 sq ft (94.24 sq m)

Total: 3,764 sq ft (349.81 sq m)

Terms

Service Charge - The leases are held on FRI Terms. Each tenant pays an equitable share of the service charge for the upkeep of the buildings common parts.

Business Rates:

Semi Basement floor: £5,900
Ground floor: £11,300
1st floor: £11,000
2nd floor: £9,900
Attic: £4,100
Car space: £1,500
Each suite qualifies for 100% Rates Relief under the Small Business Binus Scheme.

Energy Performance Certificate - Band E.

Capital Allowances - We understand there are no unclaimed Capital Allowances available.

VAT - The exemption to VAT has been waived, accordingly VAT will be applicable, however it is anticipated that any sale will be treated by way of a Transfer of a Going Concern (TOGC).

Sale Price - We are seeking offers in excess of £465,000 excluding VAT for the investment, which provides a Net Initial Yield of 8.97% after allowing for the deduction of purchasers costs of 4.33%.

Legal Costs - Each party to be responsible for their own legal costs and outlays including VAT incurred.

Anti Money Laundering Regulations - Anti Money Laundering Regulations Under both HMRC and RICS guidance as property agents we are obliged to undertake AML diligence for both the purchasers and vendors (our client) involved in a transaction. As such, personal and or detailed financial and corporate information might be required before any terms are agreed or any transaction can conclude.

Tenancy Schedule - Please see the attached brochure

Specification

  • Corner positioned townhouse
  • Fully let to 4 tenants
  • Rental income - £43,500 pa
  • WAULT to TBO - 6 years 3 months
  • WAULT to Expiry - 7 years 8 months
  • Price - O/O £465,000
  • Net Initial Yield - 8.97%

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £465,000.00 NA

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Contact agents

Marc Erunlu

Lapsley McManus Property Consultants

0141 432 0484



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