The subjects comprise 3 retail units over ground and mezzanine floor with return frontages to Pitt Street and Douglas Street. There is also a self contained rooftop unit. 156-164 Bothwell Street was formerly known as the Habitat building following the company’s long standing association with the building. Prominently positioned on the north side of Bothwell Street between Douglas Street and Pitt Street, the building benefits from 10,000 passing cars every day (Source: Transport Scotland).
There is a substantial development site opposite the units which was earmarked for two large hotel operators, though this is now more likely to be a new grade A office development.
Location
Bothwell Street is a bustling area of the city dominated by mixed commercial uses including major office blocks, retail units, restaurants and bars. Nearby occupiers include Marks & Spencer Simply Food, Barclays, Sainsbury’s, JDWetherspoon, Costa, Superdrug and Viva Brazil. There are numerous Grade A office buildings nearby including Aurora which extends to 177,000 sq ft and has approximately 1500 employees; with occupiers including BarclaysWealth and Knight Frank. The 141 St Vincent Street office development is 175,000 sq ft. Tenants include: Pinsent Masons, PWC, Shell and J.P. Morgan.
Accommodation
We estimate the floor areas as follows:-
UNIT 1 - Ground Floor – 13,210 sq ft - Mezzanine – 6,835 sq ft
UNIT 2 - Ground Floor – 2,411 sq ft - Mezzanine – 3,186 sq ft
UNIT 3 - Ground Floor – 2, 659 sq ft
ROOFTOP UNIT - Ground Floor – 1,970 sq ft
The units are finished to a shell specification. Subdivision and combination options are available on request.
Terms
Rents
UNIT 1 - Offers in excess of £165,000 per annum invited
UNIT 2 - Offers in excess of £60,000 per annum invited
UNIT 3 - Offers in excess of £30,000 per annum invited
ROOFTOP UNIT - Offers in excess of £17,500 per annum invited
Rates
The units require to be assessed for rating purposes.
Leases
Full repairing and insuring leases are available.
Legal Costs
Each party will be responsible for their own legal costs incurred in connection with the transaction, with the ingoing tenant being responsible for SDLT registration dues and VAT incurred thereon.
EPC’s
Available on request.
Planning
The units currently have a retail consent. Subject to planning we consider that the units would suit alternative restaurant and leisure uses. Interested parties are advised to consult the local planning authority.