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356 SAUCHIEHALL STREET INVESTMENT FOR SALE: PRIME TOWN CENTRE INVESTMENT ON F.R.I. LEASE

For sale: POA|908 Sq Ft|Residential, Retail, Office, Retail - High Street, Offices

PROPERTY DETAILS

FOR SALEPOA
SIZE908 Sq Ft
ADDRESSHi-Tea Sauchiehall Street, Glasgow, G2 3JD
TYPEResidential, Retail, Office, Retail - High Street, Offices
TENUREInvestment Opportunity
POSTED ON2nd October 2019

DESCRIPTION

Prime Retail Pitch
Rarely Available Investment Opportunity
Ground Floor Retail Unit
908sq ft
Held On F.R.I Lease
Expiry: 30th April 2029
Passing Rent: £26,000p.a
Price: Offers In Excess Of £285,000 Are Invited

Location

The subjects are situated on the North side of Sauchiehall Street, West of its junction with Scott St & Pitt Street within Glasgow City Centre. Situated on Glasgow’s “Golden Z” shopping district, the area is the city’s hub for bars, restaurants, evening entertainment along with high demand for residential accommodation. The area benefits from high volumes of passing pedestrian and vehicular traffic along with excellent public transport links with Charing Cross train station and a plethora of bus stops in close proximity. Neighbouring occupiers include Bagel Mania, Centre for Contemporary Arts (CCA), Dental Hospital, The Garage Nightclub & Glasgow School of Art.

Subjects

The subjects comprise a ground floor retail unit, set within a 3 storey tenemental building of traditional blonde sandstone construction surmounted by a pitched slate roof. The subjects benefit from extensive frontage with large timber framed display windows, with access gained via a recessed entrance leading to spacious retail area.

Internally, the subject have been renovated to a high standard with new floor, ceiling and wall coverings. Seating is provided by way of fixed bench and loose seating arrangements. Partitions have been erected to the rear to form staff room, w.c. facilities and office.

The tenant has fitted out the unit with customised counters, fridges and display units. The tenant operates multiple other units under the same trading name “Hi-Tea”

Area

The subjects have been measured on a Net Internal Area calculated to offer;

Ground: 84.3sqm (908sq ft)

Executive Summary

Tenant: Hi Tea Pink Limited
Expiry: 30th April 2029
Passing Rent: £26,000per annum
Rent Review: 5th Year
Option To Extend: The tenant has an option to extend for a further 10years
Deposit: A £7,000 deposit is held by the landlord

Further Info: The landlord holds an alcohol licence for the premises which will be transferred to the new owner.

Proposal

The property is available on a freehold basis for offers in excess of £285,000.

Licence

The subjects benefit from off sales licence offering wines, beers & spirits from 10am to 10pm.

V.A.T

Prices quoted are exclusive of V.A.T

E.P.C

Available on request

Legal

Each party shall bear their own legal costs incurred in the transaction.

Lease & Title

Available on request

LOCATION

Location: Hi-Tea Sauchiehall Street, Glasgow, G2 3JD

Charing Cross (Glasgow) (0.1 miles)

Anderston (0.3 miles)

Glasgow Central (0.5 miles)

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