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Commercial Development for sale

Kyle Street, Glasgow, G4

Sold STC £2,000,000
152,633 sq. ft.

Property Description

Commercial information

  • 152,633 sq ft (14,180 sq m)
  • Use class orders: A1 Shops, A2 Financial and Professional Services, A3 Restaurants and Cafes and C2 Residential Institutions

Key features

  • ***CLOSING DATE - 12 NOON FRIDAY 17 MARCH***
  • Consent for 296 bedrooms over 8 floors - 1,042 Sq.m (11,216 Sq.ft) of commercial space.
  • Design includes 19 car parking spaces, first floor amenity deck and associated student accommodation.
  • Site of 0.34 Ha (0.85 Acre) approx. close to City Centre.
  • Queen Street Station and Buchanan Street Bus Station in close proximity.
  • The campuses of Strathclyde University, Glasgow Caledonian University and City of Glasgow College all within convenient walking distance.
  • Excellent accessibility to M8 motorway at Junctions 16 and 17.
  • Planning for student accommodation and office/commercial unit.

Full description

Tenure: Freehold

***CLOSING DATE - 12 NOON FRIDAY 17 MARCH***

The site is situated on the north side of Kyle Street
just over 100 metres from its junction with North
Hanover Street and Dobbies Loan. The subjects are
a short distance north of Glasgow City Centre and
are in easy walking distance of Buchanan Street bus
station, Queen Street railway station and Buchanan
Galleries shopping centre. Access to the underground
network is within 10 minute walking distance to either
Cowcaddens or Buchanan Street subway stations. In
addition, the site has close and convenient access to
the M8 motorway at Junctions 16 & 17 to travel both
east and west from the city.

The surrounding area is developed with a mix of
uses including modern car showrooms and industrial
/ warehousing space, however, most notably, the
site is in extremely close proximity to the campuses
of Strathclyde University, Glasgow Caledonian
University plus the new City of Glasgow College.
Also within convenient walking distance are Glasgow
School of Art, The School of Dentistry and the Royal
Conservatoire of Scotland.


The subjects comprise a site which extends to 0.34
ha (0.85 ac) approx. with boundaries to Kyle Street,
Stafford Street and Calgary Street as shown on the
attached Ordnance Survey extract.

The site is regularly shaped, generally level and
houses industrial/warehouse premises which extend
to 2,722 sq.m (29,300 sq.ft) approx. which were the
headquarters of John Watson & Company Limited,
Colour & General Printers since the early 1970's. The
existing company move is to a new build, Centre of
Excellence in Clydebank, under the control of the new
international owners of the company, Multi-Colour
Corporation, headquartered in Ohio, USA.

This move has lead to the sale of the Kyle Street
premises.

SERVICES
It is understood that mains water, electricity, gas and
drainage are available to the site, however, it will be the
purchaser's responsibility to ensure that the required
services are available and adequate for the consent
and/or any other proposed development.

PLANNING
Cooper Cromar, Chartered Architects, have had
involvement with the site over a number of years and
have secured a Planning Consent (Ref: 14/02493/
Queen St Station Buchanan St Buchanan St
DC) (subject to a Section 75 Agreement) for the
development of 296 upper floor student apartments
with retail/business space and car parking at ground
floor. The Section 75 Agreement relates to the
management and occupation of the upper floors which
has to be restricted to students. There are no financial
payments attaching to the Section 75 Agreement.

A copy of the Planning Application, together
with relevant plans, a Transport Assessment,
Drainage Impact Assessment and other supporting
documentation can be viewed at the Planning Portal of
Glasgow City Council by inserting the aforementioned
planning reference number. The Planning Portal can
be accessed at https://publicaccess.glasgow.gov.uk/
online-applications/

Mr Jon Scordia of Cooper Cromar, Architects, (Tel:
0141 332 2570) is happy to provide advice to interested
parties or clarify queries on the development which
incorporates the following:-

Ground Floor:- Retail and business space totalling
1,042 sq.m (11,216 sq.ft). In addition at ground floor
there is ancillary space associated with student
accommodation e.g. office/reception, laundry, gym,
common room and cycle parking.

Upper Floors:- There is a mix of accommodation on
the upper floors comprising 42 x 4 bed clusters, 12 x
3 bed clusters and 92 studios. In addition, there are
common rooms at the first, fourth and eighth floors.
The development has a proposed total; gross internal
floor area of 14,180 sq.m (152,633 sq.ft) approximately
and it incorporates 19 car parking spaces at the
ground floor accessed from Calgary Street plus an
amenity deck at first floor level.

TECHNICAL PACK
Aside from the information mentioned above, a pack
of technical information can be made available upon
request and this includes:-

* Title documentation and plans
* Asbestos report on existing building
* Schedule of accommodation and floor areas
* Planning consent documentation and final draft
copy of the Section 75 Agreement
* A desk-top geotechnical study
* An array of photographs

SALE TERMS
Offers over 2 Million are invited for the purchase of
the freehold interest.

In view of an existing obligation, the purchaser will be
required to commence development within 5 years of
the date of entry.

CLOSING DATE
Parties should notify their interest to DM Hall in order
that they can be advised of any closing date set for the
receipt of offers.

DATE OF ENTRY
By agreement but not prior to 31st March 2017.

VAT
VAT will be chargeable on the purchase price.


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