95 Hope Street Glasgow G2 6LL

95 Hope Street
Glasgow
G2 6LL

Prime City Centre Leisure Investment

Let to Reina Scotland Limited on a new 15 year lease until 2030 (no breaks)
City centre location immediately opposite Central Station and the Grand Central Hotel
Approximate floor area of 701.97 sq m (7,556 sq ft)
Newly refurbished and fitted bar and restaurant
Nearby occupiers include Tesco Express, Cafè Nero and Ladbrokes
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
70
Auction
22nd October 2015
Rent
£65,000 per Annum Exclusive
Status
Sold
Price
£425,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Prime City Centre Leisure Investment

Let to Reina Scotland Limited on a new 15 year lease until 2030 (no breaks)
City centre location immediately opposite Central Station and the Grand Central Hotel
Approximate floor area of 701.97 sq m (7,556 sq ft)
Newly refurbished and fitted bar and restaurant
Nearby occupiers include Tesco Express, Cafè Nero and Ladbrokes
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 70
Auction 22nd October 2015
Rent £65,000 per Annum Exclusive
Status Sold
Price £425,000
Sector
Leisure
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 47 miles west of Edinburgh
Roads: M8
Rail: Glasgow Central Station, Glasgow Queens Street Station
Air: Glasgow International Airport (9 miles west)

Situation

Glasgow is the largest city in Scotland with a population of 1.2million people. Hope Street is located in Glasgow city centre linking Arygle Street to the south and Renfrew Street and beyond to Cowcaddens Road to the north. The property is located on the west side of the street immediately opposite Central Station, the larger of the two mainline railway stations in the city. Grand Central Hotel is a high profile, recently refurbished hotel adjoining the station. Hope Street is in the centre of the retail and office district within Glasgow city centre with neighbouring occupiers including Cafè Nero, SSE plc and Ladbrokes.

Tenure

Heritable. (Scottish Equivalent of English Freehold).

Location

Miles: 47 miles west of Edinburgh
Roads: M8
Rail: Glasgow Central Station, Glasgow Queens Street Station
Air: Glasgow International Airport (9 miles west)

Situation

Tenure

Heritable. (Scottish Equivalent of English Freehold).

Description

The property comprises a ground floor entrance and basement restaurant, cocktail bar and nightclub. The property has recently undergone significant tenant capital expenditure to refurbish and re-fit the property for its current use.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reviews
Ground Basement	Reception Bar and Restaurant	59.18 sq m 642.79 sq m	(637 sq ft) (6,919 sq ft)	REINA SCOTLAND LIMITED (2) (t/a Reina Club & Restaurant)	15 years from 15/06/2015 to 14/06/2030 on full repairing and insuring terms (1)	£65,000	15/06/2020 15/06/2025
Totals		701.97 sq m	(7,556 sq ft)			£65,000

(1) A rental deposit of £16,000 is held together with a personal guarantee equating to one year’s rent.
(2)The tenant has recently completed a £200,000 fit out of the property.