73 Albion Street, Glasgow, G1

THE SQUARE

Merchant Square is a historic building, which forms part of Glasgow's Old Fruit Market and lies in the heart of the Merchant City. The square now provides a destination venue for eating, drinking and entertainment.

Existing tenants provide a fantastic mix of restaurant, bar and entertainment uses:

M-CITY, BAR SOBA, THE BEER CAFE, THE TAP YARD, O'NEIL'S, TABLE TWENTY-EIGHT, NQ64, ESCAPE REALITY, ONE UNDER GOLF

Specifically, the former Monterey Jacks is situated in an excellent trading position in the centre of Merchant Square. The premises benefit from a prominent frontage and internal/square seating areas.


DEVELOPMENTS - THE NEW STUDENT QUARTER

Candleriggs Square, a new £300 million development, is under construction virtually across from Merchant Square. Construction of the 215,000 square feet, 500-bed student hotel will complete in late 2023, whilst a 346-apartment build-to-rent scheme will complete in 2024.

Get Living has secured planning consent for Scotland's largest BTR scheme - 727 units behind High Street Station, located 500 metres from Merchant Square.

Collegelands is part of a £200 million development project. The development comprises 588 student study bedrooms. The development is situated very close to Tontine House, which is to undergo a 115,000 sq. ft. office renovation.

Strathclyde University's Technology and Innovation Centre comprises 30,000 m2 (323,000 sq. ft.) of space and accommodates 1,700 workers. The building includes open-plan office spaces, three lecture theatres and areas for specialist laboratory equipment.

THE OPPORTUNITY

The former Monterey Jacks occupies a highly prominent site within Merchant Square. The centre lies in the heart of the Merchant City and is a highly popular licensed circuit, particularly in the evenings and the weekend.

This is a fantastic opportunity for an incoming tenant to lease a fully fitted restaurant/bar and benefit from a superb trading location. A premises licence is in place.

CURRENT ACCOMODATION

The premises provide a fully fitted restaurant in good condition throughout. There is seating for approximately 82 persons over the ground level with bar servery and fully fitted commercial kitchen. There is a second holding kitchen over the first floor, with further seating for 70 persons, including a balcony seating area.

Ancillary accommodation includes customer toilets and stores.

RATEABBLE VALUE

The premises have a Rateable Value of £40,000 as at 1st April 2023. A new occupier will have the right to appeal the Rateable Value.

SERVICES

We understand that the premises are connected to all mains services, including water, electricity, gas and drainage.

PREMISES LICENCE

There is a premises licence in place.

TERMS

The premises have been place on the market at a rental of £42,000 per annum. Premium offers over £39,000 are invited.

EPC

The property has an EPC rating of G.

ANTI MONEY LAUNDERING

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, came into force on the 26th June 2017. This now requires us to conduce due diligence on property purchasers. Once an offer has been accepted, the prospective purchaser(s) will need to provide, as a minimum, proof of identity and residence.