Prime Location
Neighbouring Major Bookmakers
Ground & Basement
Held on F.R.I Lease
Let To: Betfred
Expiry: 30th July 2027
Rent Review: 2024
Passing Rent: £60,000p.a.x
Price: o/o £695,000
Location
The property is situated on the north side of Gordon Street between its junctions with Hope Street and Union Street adjacent to Glasgow’s Central Station in the City Centre.
Glasgow is Scotland’s largest city and benefits from an immediate population of approximately 660,000 people and an estimated shopping catchment of two million. Glasgow is widely regarded as being second only to London’s West End in terms of the UK retailing hierarchy.
The property benefits from having dual aspect views down Hope Street and along Bothwell Street, the main arterial route in to Glasgow City Centre. Bothwell Street is well established as the centre of Glasgow’s CBD however has recently become a thriving leisure destination, with a number of bars, restaurants and coffee shops taking advantage of the all day trade available.
Glasgow Central Station is approximately 100 yards to
the south of the subjects, meaning the subjects are ideally positioned to take advantage of the daily passing commuter trade.
Nearby occupiers include Cafe Nero, Gusto, Barburrito, Ad Lib, Grand Central Hotel, Tesco Metro, Santander and Sainsburys Local.
Property
The property forms the ground floor and basement of a larger 7 storey traditional sandstone development surmounted by a mansard style roof overlaid in slate and lead.
Offering a prominent and bright frontage, the property benefits from high display windows facing directly onto Glasgow Central Station with centrally located entrance doors of aluminium framed and glazed construction.
Internally the property offers open plan retailing space decorated to a high standard in the tenants corporate specifications with floors overlaid in laminated timber and ceramic tile throughout. The property benefits from L.E.D lighting throughout and air conditioning with partitions erected to the rear to form staff counter and public w.c. facilities.
Access to the basement is gained via an enclosed staircase to the rear of the demise, providing stores, staff tea prep and staff w.c facilities.
Area
The property extends to the following floor areas;
Ground: 114.72sqm (1,235sq ft)
Bsm: 133.97sqm (1,442sq ft)
Total: 248.69sqm (2,677sq ft)
Lease Summary
The property is held on a full respiring and insuring head lease on the following terms;
Tenant: Done Brothers (Cash Betting) Ltd t/a Betfred
Expiry: 30th July 2027
Rent Review: 31st July 2024
Passing Rent: £60,000p.a.x.
Sale
Our client would dispose of their freehold interest for o/o £695,000
V.A.T
The property has been elected for V.A.T. as such the transaction may be treated as a T.O.G.C (transfer of a going concern)
E.P.C.
Available on request
Title
Available on request
Legal
Each party shall bear their own legal costs incurred in the transaction
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.
Viewing
Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business