The subjects comprise of a mid terrace retail unit contained within a traditional 4 storey blonde sandstone tenement. Situated over ground and basement, the subjects offer a large open plan sales area as well as toilet and kitchen on the ground floor, with the basement being used primarily as storage. The unit is currently occupied by Merkur Slots UK LTD and is fit out to a high standard in line with the tenants use with numerous slot machines and other casino games throughout.
Externally, the unit has recently undergone an extensive refurbishment prior to Merkur Slots UK LTD taking entry that was further improved with the tenants fit out. The refurbishment included a new glazed shopfront being installed as well as a new pedestrian access door.
Location
The subjects are situated on the west side of Sauchiehall Street, within close proximity to the city centre of Glasgow. The subjects benefit from excellent transport links with junction 18 of the M8 Motorway located a short distance to the west, linking Glasgow with the major road networks throughout Scotland. The location benefits from excellent public transport links with Charing Cross train station situated a short distance away. Both Glasgow Queen Street, and Central Station can also be found within the city centre. The property is situated on an established retail parade, with surrounding occupiers of both national and local covenant strength. Occupiers have a particular focus on the leisure and hospitality industry, with ‘The Garage Nightclub’ and other nightlife operators situated on the same stretch of Sauchiehall Street.
Accommodation
Ground Floor 81.35 sq m (876sq ft )
Basement 80.17sq m ( 869 sq ft )
TOTAL 162.07 sq m(1,745sq ft )
Terms
SALE PRICE Our client is seeking offers in excess of £550,000 (excl. VAT) for their heritable interest in the subjects representing a net initial yield of 8.18% after allowing purchasers costs.
EPC The property has an EPC rating of ‘F’. A copy of the Energy Performance Certificate can be provided to interested parties.
RATING The subjects are entered in the current Valuation Roll with a rateable value of £25,750. The rate poundage for 2022/2023 is £XXX to the pound.
VAT Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT.
PLANNING We understand that the property previously received class planning 11 consent. The property may suit alternative uses subject to obtaining all necessary planning consents. It will be incumbent upon any occupier to satisfy themselves in this respect.
LEGAL COSTS Please note that each party will be responsible for their own legal costs relative to any transactio
Specification
• BUSY RETAILING LOCATION WITHIN THE HEART OF GLASGOW CITY CENTRE
• UNEXPIRED LEASE TERM OF APPROX. 4 YEARS
• NET INITIAL YIELD: 8.18% AFTER ALLOWING FOR PURCHASER'S COSTS
• PASSING RENT: £45,000 P.A
• OFFERS IN EXCESS OF £550,000