The building is iconic and was the home of Tower Records for many years, most famously hosting a pop-up impromptu concert by the renowned band Bon Jovi. The premises were developed as a music store, trading over all levels, and benefit from high ceiling height internally, excellent natural light, and an open plan canvas, ready for refurbishment.
Location
Specifically, the former Tower Records store is an iconic building, situated within a superb city centre trading location. The premises lie immediately adjacent to Central Station, the main railway station serving the city centre, with adjacent occupiers, including McDonalds, KFC, Taco Bell, Tim Horton’s, Greggs, Waterstones and Poundland. Buchanan Street, the main retailing area of the city, is situated less than 5 minutes’ walk, as is the main financial district.
This is a superb location within a highly accessible and popular area of the city centre.
Accommodation
The premises extend to the following areas:
Ground: 3,337 sq ft / 310.00 sqm
Basement: 2,011 sq ft / 186.82 sqm
First: 3,145 sq ft / 292.17 sqm
Second: 3,175 sq ft / 294.32 sqm
Third: 3,168 sq ft / 294.32 sqm
Terms
Rateable Value - The premises have a current Rateable Value of £96,000 as of 1st April 2023.
A new occupier will have the right to appeal the Rateable Value.
Rental - The premises have been placed on the market at Rental Offers Over £185,000 per annum. A sale may be considered.
A new long term lease is proposed, with a term of at least 10 years and with regular rent reviews. The incoming tenant may be required to pay a deposit, depending on the covenant strength of the tenant company.
Planning - The premises benefit from a Class 1A consent (Shops, Financial, Professional and other services). This consent allows a permitted change of use to Class 3 (Food and Drink use).
EPC - The property has an EPC rating of G.
Legal Costs - Each party to be responsible for their own legal and professional costs incurred in this transaction. For the avoidance of doubt the ingoing tenant will be responsible for Land & Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.
Specification
- Superb location in heart of the city centre.
- Rental Offers Over £185,000 per annum. Sale price on application.
- Total area of circa 15,000 sq. ft. over five levels.
- Excellent location for a licensed/entertainment venue.
- Good sized ground floor, basement and first floor for integrated restaurant/bar.