Prime City Centre Real Estate Development Opportunity
Situated Over 1st, 2nd, 3rd & Attic Floors
Grade B Listed Building
Rarely Available City Centre Opportunity
Potential For Residential / Boutique Hotel / Student Accommodation / Business Centre / Office Scheme / Leisure / Gymnasium
Total: 9,789sq ft
Planning Submitted For 27 No. Serviced Apartments
Offers In Excess of £500,000 Are Invited
Location
The subjects are situated on the North side of Sauchiehall Street at its junction with Renfield Street within the pedestrianised precinct on Glasgow’s Golden “Z” shopping centre. Occupying a dominant corner position on Sauchiehall Street & Renfield Street, the subjects present a rarely available opportunity to acquire a freehold in the city centre. Neighbouring occupiers include the Cineworld Complex, Pavilion Theatre, Buchanan Galleries Shopping Centre, Starbucks, Herald & Evening Times H.Q. and the Royal Concert Hall. Major developments are underway in the adjacent former B.H.S building along with developments due to commence in early 2019 within the former Glasgow Metropolitan College, ample on street parking is available close by with private multi-storey car park within minutes walk an Concert Square Car Park.
Neighbouring occupiers include Burger King, T.S.B. Bank, Starbucks, McDonalds, Walkabout, Cineworld, Herald & Evening Times HQ & Pavillion Theatre
Subjects
The subjects comprise a prominent 3 storey development of traditional construction of blonde sandstone surmounted by a pitched roof. Benefitting from access via Sauchiehall Street & Renfield Street, the subjects offer dual staircases to all floors along with elevator situated at Sauchiehall Street.
Internally the subjects have been stripped to a shell condition, permitting any potential developer an opportunity to visually inspect the bare aspects of the demise, whilst assessing the fabric of the building. Floors are of timber constriction with the stairwells and elevator shaft being of concrete. The subjects themselves offer a unique and rarely available, opportunity to obtain an iconic building within Glasgow’s city centre, with a variety of future potential available, the subjects would lend themselves to serviced apartments, student accommodation, business centre, retail, leisure, gymnasium, restaurant the name but a few.
The subjects could be split to form a ground floor retail unit at Sauchiehall St, with entrance to the upper floors being gained via a secondary entrance along with entrance via Renfield Street.
Planning
Our client has taken the liberty of submitting a planning application for a no.27 serviced apartment development under the reference no 19/00543/FUL.
Copies of plans are available on request
The subjects are listed as a Grade B demise with Glasgow City Council and Historic Scotland, further information available on request.
Area
The subjects have been calculated on a Gross Internal Area basis with the following floor areas;
Ground: 51.28(552sq ft)
1st: 317.72sqm (3,420sq ft)
2nd: 267sqm (2,874sq ft)
3rd: 222.87sqm (2,399sq ft)
Attic: 50.54sqm (544sq ft)
Total: 909.4sqm (9,789sq ft)
Proposal
Our client is offering their freehold interest for offers in excess of £500,000
V.A.T.
We understand the subjects are not elected for V.A.T.
Planning & Title
Copies of the planning application along with accompanying plans and title packs available on request.
Viewing
Via appointment with the sole marketing agent
Legal
Each party shall bear their own legal costs incurred in the transaction