The property extends over ground, first and basement floors within a multi storey 1920s art deco building extensively redeveloped to private residential and retail in 2005. The premises are fully fitted in a contemporary style and finished to a high standard, previously operating as public house at ground floor, self contained bar and live entertainment venue in the basement with exhibition space at first floor which was formerly overspill bar area, as well as kitchen, offices and ancillary space. External customer seating is available to the front and private lane to the side of the premises. The premises are suitable for a number of alternative uses subject to planning permission and other consents.
Location
Glasgow is Scotland’s principal city with a population in the order of 660,000 and catchment of approximately 1.8 million within 20 minutes drive time. The city is also home to a number of Universities and higher educational institutions with a full time student population in excess of 50,000. The property is located within the recognised eating and drinking, late night leisure pitch of Sauchiehall Street within the city centre. Nearby commercial occupiers include Tesco Express, Boots, RBS, Pizza Express as well as a variety of branded and independent bars, restaurants, nightclubs, casino and live music venues. The Glasgow School of Art campus is located in the adjoining streets and the area is well served by public transport and taxi ranks.
Accommodation
The accommodation extends to the following approximate gross internal areas:
Ground floor - 377 sq m (4,058 sq ft)
First floor - 174 sq m (1,873 sq ft)
Basement - 283 sq m (3,046 sq ft)
Total - 834 sq m (8,977 sq ft)
The premises have an overall capacity of 696.
Terms
Licensing
A Premises Licence is in place and can be transferred, if required, as part of the transaction. Currently the core operating hours are 11am until midnight 7 days.
Fixtures & fittings
An inventory of fixtures and fittings to be included in the sale will be confirmed to interested parties.
Rateable value
The property is entered in the Valuation Roll as Public House NAV/RV £87,500 and the Uniform Business Rate for 2014/15 is £0.482 A new owner/occupier will have the right to appeal the Rateable Value and interested parties should seek independent advice on this matter.
Energy performance rating
The premises are rated G. A copy of the full EPC is available to genuinely interested parties on request.
Terms
The premises are available to let on Full Repairing and Insuring terms for a negotiable lease length incorporating regular rent reviews and we are instructed to seek rental offers in excess of 70,000 pa exclusive. Alternatively the heritable interest is available at offers over £850,000. The premises are available with vacant possession.
VAT
All prices and rents are quoted exclusive of VAT. We are advised that the property is elected for VAT.
Legal costs
The tenant or purchaser will be responsible for their own legal and professional costs and expenses. The purchaser will be responsible for Stamp Duty Land Tax and any Recording dues.
Specification