Restaurant for sale

261-263 Hope Street, Glasgow, G2

£745,000
4,000 sq. ft.

Property Description

Commercial information

  • 4,000 sq ft (371 sq m)

Key features

  • Investment opportunity
  • 4000 sq.ft. over three floors
  • Fully licensed restaurants with class 3 takeaway consent and late licence until 3am
  • Situated in the centre of Glasgow
  • Refurbished

Full description

Location

The property is situated in the centre of Glasgow, 30 yards off Sauchiehall Street, which is one of Glasgow's busiest shopping streets. In close proximity are various hotels, boarding houses, large new office blocks, the theatre Royal, the Pavilion theatre, the concert hall, the college of drama and music, the Piping centre and various busy night clubs. The premises sit on the busiest bus route out of the city and the main bus stop is outside the restaurant. The adjacent Savoy centre has in place planning permission for an office/ hotel development of some thirty stories.

Description

The property comprises three floors. The ground floor has a late licence for the takeaway until 3am serving the surrounding nightclubs. The first floor trades as Masala Twist Indian restaurant of which there are several in the Glasgow area. Both these restaurants get excellent reviews on Trip Advisor. The second floor is used for private functions and training schools. The whole building underwent a huge refurbishment in recent times when a new steel roof was fitted along with a new front elevation, double glazing, toilets, rewiring and new plumbing.

Lease Information

The property is leased on a twenty year insuring repairs basis with fifteen and a half years to run. The rent is 64K P.A. Rent reviews are five yearly upwards only. The tenants are very experienced operators with several restaurants in central Scotland. The rateable values are 33250 for the ground floor and 24500 for the upper two floors. The current rate is 48p per rateable value.


Nearest stations

  • Buchanan Street (0.2 mi)
  • Cowcaddens (0.2 mi)
  • Glasgow Queen Street (0.3 mi)
Distances are straight line measurements from centre of postcode

Map & Street View

Nearest stations

  • Buchanan Street (0.2 mi)
  • Cowcaddens (0.2 mi)
  • Glasgow Queen Street (0.3 mi)
Distances are straight line measurements from centre of postcode

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