Albion Street, Glasgow, G1

LOCATION
Merchant Square is a historic building which forms part of Glasgow's Old Fruit Market and lies in the heart of the Merchant City. The square now provides a destination venue for eating, drinking and entertainment. There are a number of highly successful businesses situated within the square including Metropolitan, Tap Yard, Sano, O'Neill's Public House and Vodka Wodka. In addition, there is a basement venue which has recently been refurbished as One Under together with Escape Reality venue.

Significant new development has taken place in the immediate vicinity including the £90 million Strathclyde University Technology and Innovation Headquarters as well as a new student village, hotel, offices and retail developments in the former Selfridges site (just completed).

Specifically, Pania is situated in an excellent trading position with frontage and external seating to Candleriggs.

DESCRIPTION
Pania is situated in an excellent trading position within the centre and benefits from a return frontage, as well as easy access into the main centre. The frontage, in particular, benefits from virtually full height glazed windows, as well as an external seating area, which is supplemented by attractive canopies to increase frontage/presence even further.

ACCOMMODATION
We estimate that the premises extend to approximately 1,000 sq. ft. The premises are laid out to provide a bar area/service counter, customer toilets and storage areas, all over the ground floor. We would estimate total seating for approximately 40 persons.

There is a basement cellar as well as bin store area, albeit these areas are accessed separately from a communal staircase within the centre. St Enoch Shopping Centre

The premises have recently benefited from a full refurbishment and are in an excellent walk-in condition throughout.

LICENCE
There is a premises licence in place. The premises licence will be transferred to a new tenant.

SERVICES
We understand that the premises are connected to all mains services including water, electricity, gas and drainage.

RATES
The rateable value of the restaurant is: £26,000.

A new occupier will have the right to appeal the rateable value.

THE OPPORTUNITY
Pania is in excellent condition with recent revenues of approximately £10,000 per week. The premises provide an excellent opportunity, benefitting from easy access into the main centre, as well as direct access externally onto Candleriggs/Bell Street.

This is a first class opportunity for a new tenant to purchase a now established business in walk-in condition. The premises are held on a long term lease at a rental of only £19,000 per annum.

PRICE
Premium offers are invited for the benefit of the tenant's interest and business.

EPC
The premises have an EPC rating of G. A copy of the EPC can be provided. to interested parties.

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 conduct due diligence not only on our client but also on any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase before the transaction can proceed.