This Grade B listed property comprises the prominent upper floors (1st, 2nd, 3rd and 4th) of a sandstone building on the southwest corner of the junction of Sauchiehall Street and Holland Street.
The main access is from a doorway directly onto Sauchiehall Street leading to the first floor. The majority of the ground floor is occupied by a Wetherspoons bar and is not part of the property being marketed. The property is currently configured as 19 self-contained flats providing 81 student beds and a management office requiring refurbishment.
Location
Location - Glasgow is the largest city in Scotland. It is located approximately 45 miles (73 km) west of Edinburgh. The city has a population of approx. 633,120 (2019 Census) and a 30 minute drive time catchment area of approximately 1.5M.
Glasgow is a major Scottish UK retail and leisure destination with the Hydro concert arena and the SEC attracting many major international conferences including COP26 later this year. The city has many major financial service corporate occupiers together with technology businesses and a wide array of professional and commercial firms.
Major firms like Barclays, JP Morgan and Morgan Stanley have expanded, attracted by the City’s highly qualified workforce and large graduate population from the three main Universities and the other world renowned institutions like the Glasgow School of Art.
Situation - Sauchiehall Street is undergoing major upgrading; the recently completed Avenues public realm project has helped galvanise further positive changes to this vibrant part of west Glasgow city centre. It is a principal thoroughfare into the city centre from the West End and beyond for those travelling on foot, cycling and by car where there is direct access from the M8.
The new public realm links Sauchiehall Street’s pedestrianised retail areas to Buchanan Galleries at the top end of Buchanan Street. The location is also adjacent to the hotel and office districts around Blythswood Square where The Blythswood, Dakota, Ibis and Premier Inn hotels add to the mix of leisure uses in this part of the city centre. Others are planned together with major residential developments.
In addition to Glasgow’s main line stations, Charing Cross Station is nearby. Many bus services run past the property and along Bath Street. In addition there is good on street and multi storey car parking in the vicinity and adjacent bus stops with numerous services.
The area is home to many lively bars and restaurants and is anchored by the internationally famous Glasgow School of Art, the Glasgow Film Theatre, the King’s Theatre, and other key arts facilities as well as the Glasgow Dental School. In addition to the public realm improvements funded by City Deal, Glasgow City Council continue to focus on continuing the transformation of this part of the city
Accommodation
The property on Sauchiehall Street is currently configured as 81 standard student bed spaces arranged in 19 cluster flats of 3, 4 and 5 bed spaces with shared kitchen, lounge and bathroom facilities. In addition there is a management office (potentially 2 further bedrooms). The property has been vacant for a number of years and now requires refurbishment.
The total existing floor area is approx. 2,187 sq m (23,450 sq ft). Measured floor plans area available on request.
Existing Accommodation - Type
Small Single Non-Ensuite - 1 bed
Small Single Non-Ensuite - 2 beds
Single non-ensuite - 20 beds
Single non-ensuite - 28 beds
Double non-ensuite - 13 beds
Double non-ensuite - 17 beds
Total - 81 beds
Existing Accommodation - Floor Areas
Basement - 689 sq ft (64 sq m)
Ground Floor - 237 sq ft (22 sq m)
First Floor - 7,115 sq ft (661 sq m)
Second Floor - 7,093 sq ft (659 sq m)
Third Floor - 7,050 sq ft (655 sq m)
Fourth Floor - 1,356 sq ft (126 sq m)
Total - 23,450 sq ft (2,187 sq m)
Terms
Offers - Parties should note interest with the joint agents in the first instance in order to be kept informed of any closing date set and to receive any further information. In the event of a closing date, then a closing date letter will be issued detailing minimum terms. The owner reserves the right to sell the property without reference to any other party
EPC Rating - Current rating is E.
Price - Offers invited.
VAT - We are advised that the property has not been opted for tax and therefore VAT is not payable.
LBTT - Should the property by eligible for Multiple Dwellings Relief (MDR) then the appropriate LBTT rate would be 1.25%. Interested parties should take their own advice in this regard.
Specification
- 19 self-contained flats providing 81 student beds and a management office (potentially 2 further bedrooms) requiring refurbishment
- Potential alternative uses as residential / serviced apartment subject to planning
- Glasgow City Centre
- Prominent corner block
- Gross Internal area approx. 2,187 sq m (23,540 sq ft) over 4 floors
- Offers invited