6 Claremont Street, Finnieston, Glasgow, G3
- SIZE AVAILABLE
377 sq ft
35 sq m
- SECTOR
Commercial development for sale
Key features
- Close to Expressway, M8, Skypark, Hydro and SECC.
- Within thriving Finnieston area close to transport links.
- Small, but well-established and popular eaterie.
- Total Net Internal Area 35 sq.m. (377 sq.ft.) approximately.
- VAT free purchase.
- Let till 2036 with a passing rent of £13,500 p.a.
- OFFERS OVER £160,000 (NIY OF 8.3%).
Description
Being within Glasgow’s thriving Finnieston area, the property is within easy walking distance of the Skypark Business Centre, the OVO Hydro, and the SECC plus the Clydeside Expressway and M8 are both readily accessible. The area is well served by public transport with numerous bus services along Argyle Street to, and from, the city plus both Exhibition Centre and Charing Cross Railway Stations are within easy walking distance.
The profile of Finnieston has risen in recent years and it is now a vibrant commercial location noted for its rich variety of public houses and restaurants. Indeed, Strip Joint, Café Mille, Brass Monkey and Lebowskis are all within close proximity.
The subjects comprise a mid-terrace ground floor retail unit currently trading as Frank’s. The unit is within a 4-storey sandstone building with a pitched tiled roof. The upper floors of the building comprise flatted dwelling houses in separate ownership. The unit benefits from good visibility being extremely close to the junction of Argyle Street.
The unit has an aluminium framed and glazed display frontage, and internally, the subjects are contained over the ground and basement floors. At ground floor there is an open plan restaurant with seat covers for approximately 12 patrons. At basement level there is an open plan kitchen with storage facilities and a staff toilet.
ACCOMMODATION & FLOOR AREAS
We calculate that the subjects have the undernoted Net Internal floor areas:-
Ground Floor: 194 sq.ft. (18.04 sq.m.)
First Floor: 183 sq.ft. (16.96 sq.m.)
Total: 377 sq.ft. (35.00 sq.m.)
LEASE DETAIL
The subjects are let to Hilldown Leisure Ltd. on a 15 year Full Repairing and Insuring lease running from 1 September 2021 until 31 August 2036. Rent reviews are at 5-yearly intervals and there is a tenant-only break clause on the 10th anniversary of the lease. The current passing rent is £13,500 per annum.
SALE TERM
Offers in excess of £160,000 are invited for the purchase of our Client’s heritable interest subject to, and with the benefit of the existing occupational lease. This price would reflect a Net Initial Yield of 8.3% following the deduction of purchaser’s costs.
ENERGY PERFORMANCE
A copy of the Energy Performance Certificate (EPC) for the subjects is available upon request.
LEGAL COSTS
Each party will be responsible for paying their own legal costs incurred during this transaction.
VAT
VAT will not be chargeable upon the purchase price.
ANTI MONEY LAUNDERING
Under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, DM Hall are legally required to complete due diligence on purchasers and vendors. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) shall be required to provide, as a minimum, proof of identity and residence and proof of funds for the purchase before the transaction can proceed.
Make an enquiry
Graeme Todd
Graeme.
or
Claire Hutton
Claire.
Brochures
6 Claremont Street, Finnieston, Glasgow, G3
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Exhibition Centre Station0.2 miles
- Charing Cross (Glasgow) Station0.3 miles
- Anderston Station0.4 miles
Notes
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