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, Monterey Jacks, Fanelli’s, The Beer Café and O’Neill’s Public House. In addition, there is a basement venue which has recently been refurbished as Tuxedo together with Escape Reality venue.
Significant new development has taken place in the immediate vicinity including the £90 million Strathclyde University Technology and Innovation Headquarters as well as a new student village, hotel, offices and retail developments in the former Selfridges site (currently on site).
Specifically, the former Arisaig unit is situated within the heart of the centre, benefitting from an external seating area overlooking the maincourtyard.
Marmalade Skies is situated in an excellent trading position within the centre and benefits from a return frontage, as well as easy access into the main centre. The frontage, in particular, benefits from virtually full height glazed windows, as well as an external seating area, which could be supplemented by attractive canopies to increase frontage/presence even further.
We estimate that the premises extend to approximately 1,000 sq. ft. The premises are laid out to provide a bar area with bar servery, customer toilets and storage areas, all over the ground floor. We would estimate total seating for approximately 40 persons.
There is a basement cellar as well as bin store area, albeit these areas are accessed separately from a communal staircase within the centre.
There is a premises licence in place. The premises licence will be transferred to a new tenant.
We understand that the premises are connected to all mains services including water, electricity, gas and drainage.
The rateable value of the restaurant is: £31,500.
A new occupier will have the right to appeal the rateable value.
Marmalade Skies is hard fitted and with a minimal refurbishment, will be ready to re-open and trade. The premises provide an excellent opportunity, benefitting from easy access into the main centre, as well as direct access externally onto Candleriggs/Bell Street.
This is a first class opportunity for a new tenant to develop a wet led business within a prime trading position within the city centre.
The premises are available at a Nil Premium. Rental offers over £19,000 per annum are invited and the tenant will require to provide a 6 month rental deposit. These terms are negotiable, although we envisage a 15 year tenant full repairing and insuring lease, with rent reviews.
The premises have an EPC rating of G. A copy of the EPC can be provided to interested parties.
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.
T: 0141 331 0650 (Option 1/1)
M: 07824 395 288
M: 07901 001 311
Designed & built by Mucky Puddle