Sloan’s Bar & Restaurant 62 Argyle Arcade/108 Argyle Street Glasgow G2 8BG

Sloan’s Bar & Restaurant
62 Argyle Arcade/108 Argyle Street
Glasgow
G2 8BG

Historic Public House Investment

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
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Historic Public House Investment

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

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

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	(1,555 sq ft) (2,455 sq ft) (2,862 sq ft) (2,817 sq ft) (1,469 sq ft)	ELMBANK LEASE LIMITED (t/a Sloan's) (1)(2)	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.