Description

LOCATION

Glasgow has a vibrant commercial economy and has seen considerable investment in the core city centre over the last few years. Custom is available from many business drivers within the immediate area, including office workers, shoppers, students and trade from the extremely popular OVO Hydro and Scottish Event Campus. In addition, a major £250 million new development is planned adjacent, to include new student accommodation, residential apartments, and offices.

Specifically, the premises are situated on the west end of Sauchiehall Street, within an established licensed circuit, serving the core city centre. There are a number of other licensed premises situated within the immediate vicinity, including The Garage, Nice N Sleazy, Broadcast, Firewater, Mango and the Box, all of which operate as venues/nightclubs.

In addition, there are significant new student accommodation developments within the immediate vicinity. These include new student rooms directly opposite on Sauchiehall Street, as well as a substantial student development to the rear on Elmbank Street.

DESCRIPTION

The premises are arranged over the ground floor of a multi-storey modern building.

Internally, the premises were previously fitted as a Ladbrokes Betting Shop. There is an attractive frontage directly onto Sauchiehall Street and a good quality open plan retail area, with excellent ceiling height.

We would estimate that the premises extend to a gross internal area over the ground floor of 167.09 sq. m. (1,799 sq. ft.).

ACCOMMODATION

Internally, the accommodation is as follows:

Access

The premises are accessed directly from the front, off Sauchiehall Street.

Retail Area

The retail area benefits from a customer service desk to the front, opening to a large open area to the rear. There is also a former store, which has an element of frontage, which was previously used for an ATM machine. This can be integrated into the premises if required.  The unit is generally open plan, with excellent ceiling height.

Service Areas

There are ladies, gents and accessible toilets, as well as a kitchen area for staff. In addition, there is a rear access for deliveries.

RATEABLE VALUE

The premises have a Rateable Value of £40,750. A new tenant will have the right to appeal the Rateable Value.

SERVICES

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

THE OPPORTUNITY

The former Ladbrokes is situated within an excellent trading position and within one of Glasgow’s main licensed circuits. There are substantial student accommodation developments within the immediate vicinity, which will help to consolidate the area as a student/young professional circuit.

The immediate vicinity is undoubtedly changing, with significant street scaping and more cosmopolitan uses being attracted. In our opinion, any business aimed at the students will benefit incoming tenants.

RENTAL OFFERS AND THE LEASE

The premises have been made available on the market for lease, at a rental of Offers Over £32,000 per annum.

The anticipated lease terms will be for a period of 10 years, with rent reviews at 5 yearly intervals. These terms are flexible and subject to negotiation.  The lease will be on a standard institutional tenants full repairing and insuring basis, which will not be unduly onerous on either the landlord or the tenant.

EPC

The property has an EPC rating of E.

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 conduce due diligence on property purchasers. Once an

offer has been accepted, the prospective purchaser(s) will need to provide, as a minimum, proof of identity and residence.

Floor Plans

There are no property floorplans available

Dataroom

There are no property datarooms available