Full City Centre Building
Potential For Sub-Division
Restaurant / Residential / Gymnasium / Leisure Use
Basement - 3rd Floors
Total: 14,829sq ft
Rent: £185,000p.a.x.
Sale: £1,850,000
Location
The property is situated on the south side of Argyle Street at the “Four Corners” junction with Union Street adjacent to the 'Heilanman's Umbrella' overpass to Central Station.
Argyle Street is one of the principal retailing pitches in Glasgow City Centre. The locale is extremely busy with passing vehicular and pedestrian traffic to and from Central Station.
There are a mix of retail and leisure operators in the immediate vicinity including McDonalds, KFC, Taco Bell, The Cathouse Nightclub, House of Fraser, Tim Hortons, Radisson Blue and YO! Hotel.
Property
The property comprises a stand alone iconic building within Glasgow City Centre, designed by James Thomson in 1863, the property offers a Venetian styling and is one of the cities remaining cast iron buildings.
Originally designed and built as a warehouse, the property was most recently the home of Tower Records, as such has been upgraded with elevator serving all floors. Offering a substantial glazed frontage, the property benefits from dual, double doors of aluminium framed and glazed construction.
Internally the floors plates are primarily of open plan layout with main staircase of diamond cut aluminium and cast iron, a service staircase sits to the rear of the property running the full height of the building and leading to a fire escape within the basement to there front of the building. The lift shaft sits to the rear of the property. Each floor benefits from air conditioning units, full height windows to the front overlooking Argyle Street and at upper level, onto the platforms of Central Station.
The basement offers storage, staff facilities, fire escape and M&E plant room.
With each floor providing excellent ceiling height, the property lends itself to a variety of uses such as gymnasium, restaurant, bar, nightclub, retail, creative space, office, residential, amongst others.
Planning
Planning for conversion to bar, restaurant and nightclub at upper floors was submitted in 2013, copies of plans can be obtained via the Glasgow City Council Planning Portal Ref:13/00345/DC
Area
We have calculated the property to extend to the following floor areas;
Basement: 186.82sqm (2,011sq ft)
Ground: 310sqm (3,337sq ft)
1st Floor: 292.17sqm (3,145sq ft)
2nd Floor: 294.32sqm (3,168sq ft)
3rd Floor: 294.32sqm (3,168sq ft)
Total: 1,377.62sqm (14,829sq ft)
NAV/RV
The property has been assessed and entered onto the valuation roll with the following NAV/RV
£136,000
The property is listed as Category B by Historic Scotland.
Rent
Our client is offering the property on a new full repairing and insuring head lease for a negotiable term for £185,000p.a.x.
Sale
Price on request
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
Title
Available on request by contacting the marketing agent
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.
