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 central location for eating, drinking and entertainment. There are highly successful businesses situated within the square including Tap Yard, Sano, O'Neill's, Mother Nepal and Vodka Wodka. We will be welcoming two new ground floor tenants shortly. In addition, there are basement venues including the subjects, NQ64 Arcade and Nomad Adventures.

Specifically, the previous One Under concept is situated on Albion Street. There is a dedicated access door, leading to a ground floor entrance vestibule and, thereafter, a staircase to the main trading areas over the basement.

KEY SURROUNDING DEVELOPMENT
Significant new development has taken place in the immediate vicinity, including the £90 million Strathclyde University Technology Park, redevelopment of Tontine House, the new student village (Collegelands) and the continuous additions to the nearby Strathclyde University.

The Candleriggs Quarter, directly opposite Merchant Square, opened in early 2024, and provides one of the largest in city developments across the UK. This new £300 million mixed-use scheme comprises 80,000 square metres of residential, student, hotel and commercial space, anchored by the Social Hub brand. There are 132 apartments, 435 new flats for rental, 586 student rooms, a 123-room hotel and substantial event space. The scheme has been a great success and has a high occupancy.

MERCHANT CITY LICENSING CIRCUIT
The premises lie at the heart of the Merchant City licensed circuit with direct customer access from Albion Street. The premises are opposite/close to numerous bars, venues and restaurants on Albion Street including Home, Arta, café Gondolfi, Connnolly's, Italian Café, Six By Nico and Blackfriars. In addition, there are numerous other bars and restaurants on Bell Street, Ingram Street and Candleriggs all of which form a circular licensed circuit around Merchant Square.

DESCRIPTION AND ACCOMMODATION
The premises are situated in an excellent position within the Merchant Square licensed venue. There is a dedicated access door on Albion Street leading to a ground floor lobby and stair to the basement. Over the basement there is an open plan trading area, which includes a bar servery, seating areas and a variety of other large trading areas. Service areas include customer toilets, stores and a beer cellar.

The premises are extensive and extend to a total area of 799.52 sq. m. (8,606 sq. ft.).

RATEABLE VALUE
The premises have a Rateable Value of £55,500 as at 1st April 2023.

PREMISES LICENCE
There is a premises licence in place. The premises licence will be held by the landlord or landlord nominated company. The licence allows the premises to operate from 11.00 a.m. to 1.00 a.m., 7 nights a week. The premises have a licensed capacity for 300 people.

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

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.