Entirely let to Elmbank Lease Ltd until January 2032
Prime city centre location with access from Buchanan Street, Argyle Street and from within the Prestigious Argyle Arcade
Nearby occupiers include Mappin & Webb, Zara, House of Fraser, T-Mobile, Vodafone and H&M
Lot 30
Auction 21st October 2010
Rent £75,000 per Annum Exclusive
Status Sold
Price £1,000,000
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
47 miles west of Edinburgh
Roads
M8, M74, M77
Rail
Glasgow Central and Glasgow Queen Street mainline stations, St Enoch Subway Station
Air
Glasgow International Airport
Situation
The property is situated within the prestigious Argyle Arcade which forms part of the prime retailing pitch within Glasgow city centre. Argyle Arcade comprises two perpendicular malls running between Glasgow’s two prime retail thoroughfares, Buchanan Street and Argyle Street. Buchanan Street is firmly established as Glasgow’s prime retailing thoroughfare and has an estimated footfall of one million shoppers per week. Nearby occupiers include Mappin & Webb, Goldsmiths, Zara, House of Fraser, T-Mobile, Vodafone and H&M.
Tenure
Heritable. (Scottish equivalent to English Freehold).
Location
Miles
47 miles west of Edinburgh
Roads
M8, M74, M77
Rail
Glasgow Central and Glasgow Queen Street mainline stations, St Enoch Subway Station
Air
Glasgow International Airport
Situation
The property is situated within the prestigious Argyle Arcade which forms part of the prime retailing pitch within Glasgow city centre. Argyle Arcade comprises two perpendicular malls running between Glasgow’s two prime retail thoroughfares, Buchanan Street and Argyle Street. Buchanan Street is firmly established as Glasgow’s prime retailing thoroughfare and has an estimated footfall of one million shoppers per week. Nearby occupiers include Mappin & Webb, Goldsmiths, Zara, House of Fraser, T-Mobile, Vodafone and H&M.
Tenure
Heritable. (Scottish equivalent to English Freehold).
Description
The property, an historic Grade A Listed building, comprises a PUBLIC HOUSE arranged over basement, ground and three upper floors. The ground floor provides the MAIN BAR/LOUNGE, VARIOUS FUNCTION ROOMS are provided at first floor level and a BALLROOM is on the second floor.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, an historic Grade A Listed building, comprises a PUBLIC HOUSE arranged over basement, ground and three upper floors. The ground floor provides the MAIN BAR/LOUNGE, VARIOUS FUNCTION ROOMS are provided at first floor level and a BALLROOM is on the second floor.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Basement Ground First Second Third
Ancillary Bar/Lounge Function Suites & Kitchen Function/Bathroom Kitchen/Ancillary
144.48 sq m 228.05 sq m 265.85 sq m 261.71 sq m 136.47 sq m
25 years from 17/01/2007 until 16/01/2032 on a full repairing and insuring lease (3)
£75,000
17/01/2012 and 5 yearly thereafter
Totals
1,036.56 sq m
(11,158 sq ft)
£75,000
(1) Sloan’s is Glasgow’s oldest bar and restaurant, established in 1797, and one of the city’s most unique venues with over 200 years of hosting weddings and celebrations. (Source: www.sloansglasgow.com 22/09/2010)(2) The lease is guaranteed by William McAneney and Oliver Norman for monetary sums only. It expires on 17th January 2012.(3) Please note that the lease is subject to a schedule of condition.
Contacts
Associate Auctioneers
Montagu Evans 302 St Vincent Street Glasgow G2 5RU
