Main Street, Glasgow, G73

LOCATION
Glasgow has a population of approximately 630,000 persons and a vibrant economy, particularly in the licensed and retail sectors, helped by a large student population from Glasgow University, Strathclyde University, Glasgow Caledonian University as well as a number of technical colleges. Glasgow is now one of the main entertainment/conference centres in Europe and is home to many attractions, including the SECC, Hydro, Scottish Opera, Scottish Ballet and Royal Scottish National Orchestra.

Rutherglen is located on the outskirts of Glasgow, in the South Lanarkshire Council area. South Lanarkshire has a total population of approximately 314,000 persons and includes the towns of Hamilton, East Kilbride, and Cambuslang. We would estimate a catchment population of over £1 million persons within a short 30 minute drive time. The town is served by a train station which connects to Glasgow Central Station and regular bus routes to all major destinations.

SPECIFIC LOCATION
The property is situated on the south side of Main Street, a short distance to the west of the Rutherglen Shopping Centre and 0.4 miles south-west of Rutherglen Train Station. The property lies in the heart of the commercial centre of Rutherglen.

DESCRIPTION
This Grade C listed property is arranged over the ground and three upper floors. Formerly a cinema, the property remains fully fitted and equipped as a bingo hall. There is a large bingo hall, with excellent ceiling height to the rear. A customer reception is situated to the front, accessed directly from Main Street. The accommodation includes upper seating areas, customer toilets and ample back of house storage areas. The property benefits from a large car park to the rear.

ACCOMMODATION
The property provides the following accommodation and dimensions:

Above Upper Circle - 59.49 sq. m. (640 sq. ft.)

Upper Circle - 332.94 sq. m.(3,584 sq. ft.)

Lower Circle - 484.43 sq. m.(5,214 sq. ft.)

Ground Floor - 1,261.85 sq. m.(13,582 sq. ft.)

Total - 2,138.71 sq. m.(23,020 sq. ft.)

The above areas have been provided to us and are subject to a measurement survey.

BACKGROUND
The premises previously operated as Mecca Bingo. However, the lease agreement has come to an end and the premises are available with vacant possession. Internally the premises remain fully equipped as a bingo hall, including a large open plan ground floor and service areas, including customer toilets.

RATEABLE VALUE
The premises have a current rateable value of £65,500.

SERVICES
The premises are connected to all mains services.

PREMISES LICENCE
There is a premise licence in place.

THE OPPORTUNITY
The property is suitable for continued use as a bingo hall or for alternative leisure uses given the open plan ground floor, which may include a children's play centre, trampolines, inflatables or other general leisure concepts.

In addition, the premises may also be suitable for alternative residential development given the extent of the demise and the additional land/car parking to the rear. This would be subject to the necessary consents from the planning authority and Historic Scotland.

THE RENTAL & PRICE
A new long term lease is available the terms of which are negotiable. The asking Rental is offers over £80,000 per annum.

Our client would also consider a sale of the heritable interest. The asking price has been set at offers over £575,000.

EPC
EPC Rating 76 Band E (copy available on website).

ANTI MONEY LAUNDERING
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, came into force on the 26th June 2017. This now requires us to conduce due diligence on property purchasers. Once an offer has been accepted, the prospective purchaser(s) will need to provide, as a minimum, proof of identity and residence.

ADDITIONAL INFORMATION

VIEWING - STRICTLY BY APPOINTMENT
For an appointment to view, please contact:

Peter Darroch

CDLH

166 Buchanan Street, Glasgow

G1 2LW

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