A prominent retail building in Glasgow city centre currently home to popular burger joint Five Guys is on the market, offering potential buyers the rare opportunity to secure an entire prime mixed-use block in the perfect location.
Potential investors have the freedom to add value to the building by refurbishing and utilising the upper floors, while Five Guys have lease of the first floor until May 2041.
The unique 1850 three storey building is located on St Vincent Street and is on the market for a whopping £3,825,000 with the current owner passing the reigns to anyone looking to get a hold of a prime city centre premises.
The property is being listed by Suttons Commercial Property Consultants, with the executive summary reading: "A prime investment opportunity to acquire the freehold interest in a prominent ground floor retail unit which is entirely Let to Five Guys JV Limited on a FRI Lease for 30 years from 03/05/2011 at current rent of £220,000 p.a, with no breaks.
"Lease assigned to current tenant in August 2014. Next rent review 3 May 2026 and 5 yearly thereafter. There is a sum of £315,157 held in deposit as a lease guarantee.
"The property is located on St Vincent Street is adjacent to Buchanan Street, the prime location for high-end fashion retailers in the city-centre.
"Buchanan Street is the 2nd busiest high street within the UK with an average hourly footfall of 6,020 people and a vacancy rate of just 3%. St Vincent Street accommodates a mixture of prime office, retail and leisure units, drawing large quantities of footfall from all sectors.
"St Vincent Street will benefit from the in excess of £100m that has been allocated from within the City Deal to the Avenues Project."
Nearby major retailers include Miller and Carter Steakhouse, All Bar One, Las IGuanas and Bar Burrito.
To view the listing click here.
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