Heritable Leisure, Mixed Use Investment with Development Potential
City Centre location
Multi let investment with mixed leisure uses
Upper floor restaurant occupier extending to offer takeaway offering at ground floor
Neighbouring occupiers include Sainsbury Local, Pret a Manger and a number of local retailers
Future Development Potential (subject to consents)
Lot 16
Auction 4th November 2021
Rent £124,000 per Annum Exclusive
Status Sold
Price £910,000
Sector Leisure
Auction Venue Live Streamed Auction
Property Information
Location
Miles
47 miles west of Edinburgh
Roads
M8, M77,M74
Rail
Glasgow Central Station
Glasgow Queens Street Station
Air
Glasgow International Airport (9 miles west)
Situation
Glasgow is the largest city in Scotland with a population of 1.2 million. Queen Street is located in Glasgow city centre linking George Street to the north and Arygle Street to the south. Queen Street is a mixed commercial area with retail, leisure and office uses. Royal Exchange Square and Ingram Street are close by. Queen Street is in the centre of the retail and office district within Glasgow city centre. The property is located on the east side of the street with neighbouring occupiers including Subway, Sainsbury Local, Pret a Manger and other independent retailers.
Tenure
Heritable.
Location
Miles
47 miles west of Edinburgh
Roads
M8, M77,M74
Rail
Glasgow Central Station
Glasgow Queens Street Station
Air
Glasgow International Airport (9 miles west)
Situation
Glasgow is the largest city in Scotland with a population of 1.2 million. Queen Street is located in Glasgow city centre linking George Street to the north and Arygle Street to the south. Queen Street is a mixed commercial area with retail, leisure and office uses. Royal Exchange Square and Ingram Street are close by. Queen Street is in the centre of the retail and office district within Glasgow city centre. The property is located on the east side of the street with neighbouring occupiers including Subway, Sainsbury Local, Pret a Manger and other independent retailers.
Tenure
Heritable.
Description
The property comprises a entire four storey building with neighbouring tenements to the north and south benefit from height of up to nine storeys. The accommodation is arranged to provide a basement and ground floor retail unit, a further hot food take away unit at ground floor and a restaurant over first and second floors. Both ground floor units are extended to the rear. There is fire escape and loading access at the rear of the property and accessed from Miller Street. The site extends to approximately 562.05 sq m(0.14 acres)
VAT
VAT is applicable to this lot.
Planning
The property may benefit from future redevelopment for additional floors and a variety of uses, subject to necessary consents/permissions and the current tenancies. Interested Parties are referred to www.glasgow.gov.uk.
Viewings
Please contact Mhairi Archibald (0771 8899341)
EPC
Please see the legal pack for further information.
Description
The property comprises a entire four storey building with neighbouring tenements to the north and south benefit from height of up to nine storeys. The accommodation is arranged to provide a basement and ground floor retail unit, a further hot food take away unit at ground floor and a restaurant over first and second floors. Both ground floor units are extended to the rear. There is fire escape and loading access at the rear of the property and accessed from Miller Street. The site extends to approximately 562.05 sq m(0.14 acres)
VAT
VAT is applicable to this lot.
Planning
The property may benefit from future redevelopment for additional floors and a variety of uses, subject to necessary consents/permissions and the current tenancies. Interested Parties are referred to www.glasgow.gov.uk.
Viewings
Please contact Mhairi Archibald (0771 8899341)
EPC
Please see the legal pack for further information.
Tenancy & Accommodation
Address
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
46 Queen Street
Basement Ground
Retail Retail
196.01 sq m 141.14 sq m
(2,110 sq ft) (1,519 sq ft)
EXXON LIMITED t/a Absinthe6 (1)
5 years from 22/10/2018 to 21/10/2023
£53,000
50 Queen Street
Ground First Second
Take away Restaurant Store/ ancillary
141.14 sq m 173.35 sq m 79.72 sq m
(1,519 sq ft) (1,866 sq ft) (858 sq ft)
LION ROCK LIMITED with guarantee t/a Ichiban (2)
31 years from 31/07/1996 to 20/09/2027
£71,000
20/09/2022
Total
731.36 sq m
(7,872 sq ft)
£124,000
(1) Exxon Limited have a lease over ground and basement. Trading as clothing retailer Absynthe6 at ground and basement level. (2) Lease guaranteed by Blenwell Limited. Unit trades as Ichiban - see further details at www.ichiban.co.uk
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
