Lease recently extended for a further 10 years until May 2035 (no breaks)
Prominent Leisure Investment close to Glasgow's Central Station
Well Established Restaurant over Ground and Basement
Nearby occupiers include YBS, Tesco, Burger King, Greggs and Five Guys
Lot 48
Auction 9th May 2024
Rent £25,000 per Annum Exclusive
Status Available
Guide* £200,000
Sector Restaurant
Auction Venue Live Streamed Auction
Property Information
Location
Miles
47 miles west of Edinburgh
Roads
M8, M77, M74
Rail
Argyle Street Station, Glasgow Central Station, Glasgow Queens Street Station
Air
Glasgow International Airport (9 miles west)
Situation
The property is located close to the busy junction of Renfield Street and Gordon Street, within 50 metres of Glasgow Central Station. The surrounding area benefits from high levels of footfall around the station and nearby Buchanan Street. Nearby occupiers include YBS, Tesco, Burger King, Greggs and Five Guys
Tenure
Heritable.
Location
Miles
47 miles west of Edinburgh
Roads
M8, M77, M74
Rail
Argyle Street Station, Glasgow Central Station, Glasgow Queens Street Station
Air
Glasgow International Airport (9 miles west)
Situation
The property is located close to the busy junction of Renfield Street and Gordon Street, within 50 metres of Glasgow Central Station. The surrounding area benefits from high levels of footfall around the station and nearby Buchanan Street. Nearby occupiers include YBS, Tesco, Burger King, Greggs and Five Guys
Tenure
Heritable.
Description
The property comprises a ground floor restaurant and kitchen with further seating and staff area at basement level. Forming part of a larger traditional style sandstone tenement building built over basement, ground and three upper floors.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor restaurant and kitchen with further seating and staff area at basement level. Forming part of a larger traditional style sandstone tenement building built over basement, ground and three upper floors.
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 sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground Basement
Restaurant Ancillary
40.67 50.81
(437) (546)
MZ FOODS LTD t/a Taco Mazama (3)
Lease extension of 10 years expiring 26/05/2035 (2)
£25,000 (3)
Total
91.48
(983) (1)
£25,000 (3)
(1) The floor areas stated above are those published by the Scottish Assessors Association (www.saa.gov.uk). (2) The lease variation details that the rent will increase to £26,000 p.a.x. from 27/05/2025. A rent free period of 10 months has been granted (taken as 20 months rent free from 27/05/2025). This will be topped up by the seller. Please see the legal pack for fiurther information (3) Rent to increase to £26,000 p.a.x. from 27/05/2025 (please see the legal pack for further information) (4) As part of the variation the lease has been assigned to MZ West Ltd (SC602274).
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
