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Special Terms of Sale
-
Deposit (?) 5% of Sale Price
-
Buyers Fee
(?) 1% of Sale Price (Minimum of £3250 +vat)
Please use our
PAYMENT CALCULATOR to confirm the necessary reservation deposit for this property if you are successful with an offer now or bid at auction.
Description
- Status: Available
- Type: Commercial
- Ownership: Freehold
- Occupation: Tenanted
SUBSTANTIAL sized commercial unit in BUSY GLASGOW TOWN CENTRE LET to BURGER KING on FRI LEASE until December 2032. IMMEDIATE RENTAL INCOME OF £37,000 PER ANNUM.
SUPER SIZE WITHIN PRIME LOCATION. Ground Floor: 161.5 sqm. (1,738 sq.ft)
Basement: 102.1 sqm. (1,099 sq. ft)
Total: 263.6 sqm. (2,837 sq.ft).
PRIME TRADING LOCATION*** Nearby occupiers include Driftwood, Subway, Tinderbox, Optimax Eye Clinic and Newton House Luxury Student Accommodation.
Situated on the east side of St Georges Road at its junction with Sauchiehall Street in Charing Cross in Glasgow's CITY CENTRE.
PRIME LOCATION in one of Glasgow's busiest shopping and leisure destinations. MASSIVE LEVELS OF PASSING TRAFFIC AND FOOTFALL.
**PRIME CITY CENTRE PREMISES***
Tenant: BKUK Devco Ltd.
Expiry: 18th December 2027.
Review & Break: 19h December 2027.
Passing Rent: £37,000p.a with a fixed increase in 2025 to £39,000p.a.
Tenant Info: BKUK Devco is a trading subsidiary of BKUK Group Limited who operate 266 trading restaurants throughout England, Scotland and Wales and are currently expanding throughout the country with a target of over 700 by 2026.
Ground Floor: 161.5 sqm. (1,738 sq.ft)
Basement: 102.1 sqm. (1,099 sq. ft)
Total: 263.6 sqm. (2,837 sq.ft).
Internally the property offers a main customer servery with tiled floors and suspended L.E.D spots. The space has been partitioned to offer front customer area with main counter and large kitchen to the rear with extraction and canopy. There are customer w.c facilities at ground floor.
The basement which is accessible via 2 staircases at either side of the demise, offers large stores, w.c facilities, staff room and office. The space has been fitted out to a high standard in accordance with Burger King's corporate requirements.
Glasgow City Centre location close to STRATHCLYDE UNIVERSITY, CALEDONIAN UNI & recently redeveloped CITY OF GLASGOW COLLEGE has recently been redeveloped into an up-market residential, leisure and shopping area with a number of popular bars and restaurants serving the diverse residential population.
Full Address: 8-10 St Georges Road, Burger King Investment, Charing Cross, Glasgow, G3 6UJ
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Tenancy Details
Type of Agreement: Full Repairing & Insuring (FRI)
Length: until 18th December 2032
Rent: £37,000 per year / £3,083 per month
Yield: 9% (approx)
Tenant: Company
Notes: Fixed increase in 2025 to £39,000p.a.
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Pricing Information & Bidding
What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).
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SPECIAL Terms of Sale
- 5% Deposit
- Buyers Fee = 1% of Sale Price (Minimum £3,250 + vat)
- 4 Weeks Completion or Longer By Agreement
- Contribution to Sellers Costs £2,750 for on time settlement
VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.
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Please use our
PAYMENT CALCULATOR to confirm the necessary reservation deposit for this property if you are successful with an offer now or bid at auction.
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Auction Details
Date & Time: 28 November 2024, 10am-3pm
Type: Timed Online Auction
View Full Auction Catalogue