St. Vincent Street, Glasgow, G2

Glasgow is Scotland's largest city and the third largest
in the UK
* Rare opportunity to acquire an entire prime mixed-use
block on St Vincent Street, just off Buchanan Street,
with secured long income
* Potential to add value by refurbishing and utilising
upper floors for alternative use
* Prime location on St Vincent Street, a short distance
from Glasgow Central Station, Glasgow Queen Street
Station and Buchanan Street Subway Station
* Mixed use investment extending to approximately
10,097 sqft, let in its entirety to Five Guys JV Limited
(T/A Five Guys) until May 2041
* Current passing rent of £220,000 per annum and a long
unexpired lease term of 18 years


LOCATION
Glasgow is Scotland's largest city with a core population of over 600,000 residents. The greater Glasgow Conurbation totals
approximately 2.5 million, accounting for more than 40% of Scotland's population. Glasgow is the UK's 3rd largest financial centre
Glasgow has a strong reputation as a leading fashion centre and is the UK's largest retail centre outside of London's West End. The
retail sector in Glasgow generates over £4.2 billion of revenue per annum and supports 17,000 full time jobs
SITUATION
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.
ACCOMMODATION
Basement 2,829 Sq. Ft. , Ground Floor 2,516 Sq. Ft. , High Level Store 55 Sq. Ft. , First Floor : 1,987 Sq. Ft. Second Floor 1,602
Sq. Ft. Third Floor : 1,608 Sq. Ft. ,Total : 10,597 Sq. Ft.
TENANCY
Let to Five Guys JV Limited (T/a Five Guys) on a FRI Lease for 30 years from 03/05/2011 at current rent of £220,000 p.a, with no
breaks. Rent Review: 3/5/2021 outstanding. 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.
COVENANT
Five Guys JV Limited Turnover 2021-£237Million, Profit before Tax £26 Million
RENT: £220,000 VAT: Applicable TENURE: Freehold
PRICE: £3,500,000 Offers in excess of