46-50 Queen Street,
Glasgow
G1 3DS

Heritable Leisure, Mixed Use Investment with Development Potential

  • City Centre location
  • Multi let investment with mixed leisure uses
  • Upper floor restaurant occupier extending to offer takeaway offering at ground floor
  • Neighbouring occupiers include Sainsbury Local, Pret a Manger and a number of local retailers
  • Future Development Potential (subject to consents)
  • Lot
    16
  • Auction
    04/Nov/2021
  • Rent
    £124,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £910,000
  • Sector
    Leisure
  • Auction Venue
    Live Streamed Auction
Important Update
  • 46-50 Queen Street,, Glasgow, G1 3DS
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
47 miles west of Edinburgh
Roads
M8, M77,M74
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 1.2 million. Queen Street is located in Glasgow city centre linking George Street to the north and Arygle Street to the south. Queen Street is a mixed commercial area with retail, leisure and office uses. Royal Exchange Square and Ingram Street are close by. Queen Street is in the centre of the retail and office district within Glasgow city centre. The property is located on the east side of the street with neighbouring occupiers including Subway, Sainsbury Local, Pret a Manger and other independent retailers.

Tenure

Heritable.

Description

The property comprises a entire four storey building with neighbouring tenements to the north and south benefit from height of up to nine storeys. The accommodation is arranged to provide a basement and ground floor retail unit, a further hot food take away unit at ground floor and a restaurant over first and second floors. Both ground floor units are extended to the rear. There is fire escape and loading access at the rear of the property and accessed from Miller Street. The site extends to approximately 562.05 sq m(0.14 acres)

VAT

VAT is applicable to this lot.

Planning

The property may benefit from future redevelopment for additional floors and a variety of uses, subject to necessary consents/permissions and the current tenancies. Interested Parties are referred to www.glasgow.gov.uk.

Viewings

Please contact Mhairi Archibald (0771 8899341)

EPC

Please see the legal pack for further information.

Tenancy & Accommodation

AddressFloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
46
Queen Street
Basement
Ground
Retail
Retail
196.01 sq m
141.14 sq m
(2,110 sq ft)
(1,519 sq ft)
EXXON LIMITED
t/a Absinthe6 (1)
5 years from
22/10/2018 to
21/10/2023
£53,000 
50
Queen Street
Ground
First
Second
Take away
Restaurant
Store/
ancillary
141.14 sq m
173.35 sq m
79.72 sq m
(1,519 sq ft)
(1,866 sq ft)
(858 sq ft)
LION ROCK
LIMITED with
guarantee t/a
Ichiban (2)
31 years from
31/07/1996 to
20/09/2027
£71,00020/09/2022
Total
731.36 sq m
(7,872 sq ft)
  £124,000 

(1) Exxon Limited have a lease over ground and basement. Trading as clothing retailer Absynthe6 at ground and basement level.
(2) Lease guaranteed by Blenwell Limited. Unit trades as Ichiban - see further details at www.ichiban.co.uk

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    15.10.21
    File Size
    519 KB
    View PDF
  • Site Plan
    Updated Date
    15.10.21
    File Size
    896 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Pinsent Masons LLP 141 Bothwell Street
Glasgow
G2 7EQ
Pamela Gorman 0141 567 8674pamela.gorman@pinsentmasons.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now