Description

LOCATION

Merchant Square is a historic building which forms part of Glasgow’s Old Fruit Market and lies in the heart of the Merchant City. The square now provides a destination venue for eating, drinking and entertainment.  There are a number of highly successful businesses situated within the square including Metropolitan, Bar Soba, Steak, Cattle and Roll, Marmalade Skies, The Beer Café and O’Neill’s Public House. In addition, there is a basement venue which has recently been refurbished as Jungle Rumble together with Escape Reality venue, and NQ64 (gaming concept).

There has been significant development in the area including the Strathclyde University Technology and Innovation Headquarters and a new student village at Collegelands. In addition, the new £300 million Candleriggs Quarter is directly opposite the Merchant Square. This is the UK’s biggest city centre development outside of London and has consent for 850,000 sq. ft. of residential, student, hotel and commercial space. Construction is underway with practical completion due in 2024/2025.

Specifically, the former Badabing unit is situated within the heart of the centre, benefitting from a courtyard seating area.

DESCRIPTION

The restaurant is arranged over both ground floor and first floor levels, both of which are open to the main indoor courtyard. There is a fully fitted commercial kitchen.

ACCOMMODATION

We would summarise the accommodation as follows:

GROUND FLOOR

Bar/Restaurant

Attractive, contemporary restaurant with timber bar servery. Seating is provided from generally loose timber tables and chairs for approximately 70 persons, although there is significant room for more.

Stores

Large store, with food hoists to first floor kitchen, cellar and other stores.

Accessible Toilet

Situated off main restaurant area.

FIRST FLOOR

Bar/Restaurant

Separate self-contained bar/restaurant area. We would estimate seating for approximately 30 persons, both internally and on a first-floor balcony.

Kitchen

Fully fitted commercial kitchen. There is a fitted extraction and storage area to the rear.

Customer Toilets

Ladies and gent’s customer toilets.

Other

Manager’s office and stores.

LICENCE

There is a premises licence in place. The premises licence will be transferred to a new tenant.

SERVICES

We understand that the premises are connected to all mains services including water, electricity, gas and drainage.

RATES

The rateable value of the restaurant is: £46,750.  A new occupier will have the right to appeal the rateable value.

THE OPPORTUNITY

The restaurant is fully fitted including tables and chairs and kitchen equipment, ready for immediate occupation.  This is a fantastic opportunity for a new tenant to create a theme and concept to compliment the other licensed occupiers within the square and develop a first class profitable business.

TERMS

The premises are being placed on the market at rental offers over £49,000 per annum. There is a nil premium, although a deposit and other securities will be required. The lease will be on a standard commercial basis, proposed at a term of at least 10 years with regular rent reviews.

EPC

The premises have an EPC rating of G. A copy of the EPC can be provided to interested parties.

ANTI-MONEY LAUNDERING

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on the 26th June 2017. This now requires us to conduct due diligence not only on our client but also on any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase before the transaction can proceed.

Floor Plans

There are no property floorplans available

Dataroom

There are no property datarooms available