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Leisure Facility for sale

335 Hope Street, Glasgow, G2

Offers in Excess of 3,489 sq. ft. | £610,000

Property Description

Key features

  • Investment for sale - Ground and basement corner unit in a Grade 'B' Listed Building
  • Let to Star Pubs & Bars with guarantee by Heineken UK Limited
  • Lease expires 27/11/2026 (10.20 years unexpired)
  • Annual Rent of £47,000
  • Offers in excess of £610,000 reflecting a net initial yield of 7.36%

Full description

LOCATION
Glasgow is the largest of Scotland's cities and has a resident population of 580,000 people. The Greater Glasgow conurbation has a population in the order of 1.7 million people. The property is situated in Glasgow City Centre on the west side of Hope Street at the junction with Cowcaddens Road.

SITUATION
The property forms part of the landmark Grade 'B' listed MacConnell Building at the north end of Hope Street. The property is in close proximity to numerous complementary leisure uses including the Theatre Royal, The National Piping Centre, The Royal Conservatoire of Scotland and Cineworld. Directly adjacent occupiers include Dragon i Restaurant, Café Hula and Trader Joe's which is about to undergo a major refurbishment as part of a rebranding exercise.

DESCRIPTION
The subjects comprise the ground floor and basement corner unit of a four storey and basement red sandstone building. The Charles Rennie Mackintosh designed building was completed in 1908. The upper floors of the building are in residential use.

ACCOMODATION
The subjects extend to the following approximate gross floor areas:-

Ground - 147.34 sq.m. (1586 sq.ft.)
Basement - 176.79 sq.m. (1904 sq.ft.
Total (324.13 sq.m) (3,489 sq.ft.)

PLANNING
We have been verbally advised that the property benefits from the Class 3 (Sui Generis) use class consent.

Star Pubs and Bars Limited is the leased pub business of Heineken UK. They have a nationwide estate of 1,100 of pubs which are run by independent entrepreneurs. The lease is held by Star Pubs & Bars Ltd who in turn sub- lease the premises to individuals with a tie to supply beer, cider & soft drinks.

Heineken UK Limited is the UK's leading cider and beer producer and the name behind iconic drinks brands such as Strongbow, Bulmers, Heineken, Foster's, Kronenbourg 1664 and Desperados, together with a full range of speciality brands


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