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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

CITY CENTRE OFFICE SPACE FOR SALE- FULL 3RD FLOOR- 2,619 Sq.Ft office suites. SOLD WITH TENANT IN PLACE. Immediate rental income of £27,900 per annum on 20 year FRI lease UNTIL 2044 SUPER RETURN.

FULL FLOOR with 7 Private offices, Large Conference Room, Spacious Co-working area, Kitchen, Male and Female toilets. 100% SECURE INCOME. **FULL FRI LEASE UNTIL 2044 with annual rental of £27,900.

Perfect investment in prime Glasgow City Centre spot within seconds of all major amenities and transport links. Overlooking the St Enoch Shopping Centre and St Enoch Underground Train Station.

SUPER RETURN ON INITIAL INVESTMENT offering excellent yield with long-term tenant on FULL FRI lease for 20 years. Potential for future development in HIGH DEMAND LOCATION within city centre.

Similar spaces in the area have successfully been converted into residential properties. 4 x 500 Sq.Ft flats would potentially yield £900,000- £1,000,000 (subject to planning) in SUPER LOCATION.

Nestled in a prestigious central spot overlooking St Enoch Square, this office space offers magnificent views of central Glasgow. Immerse yourself in the bustling cityscape while maintaining a professional and inspiring atmosphere for your business. Development Opportunities: There is the possibility of a title split (subject to planning) that would allow for the formation of 8 offices in the current configuration or up to 12 offices with re-configuration. Individually selling these offices could achieve around £50k per office, with a total development value of up to £600,000. It's also worth noting that converting the space into flats, as has been successfully done with other offices in the area (subject to planning), can yield a GDV of approximately £900,000 to £1,000,000 million X four 500 Sq.Ft residential flats. • Available Immediately • Recently Refurbished in May 2023 • Elevator Access • Fully Furnished with Office Furniture (can be emptied if required) • Secondary Glazing for enhanced noise reduction and insulation • 7 Private Offices • 1 Large Conference Room • 1 Spacious Co-working Area • 1 Communal Kitchen Area • Separate Ladies & Gents Toilet Facilities (5 toilets in total) • Secure Door Entry System for added security • Fibre Broadband Ready with CAT 5 cabling throughout • Fire Alarms/Extinguishers for safety compliance • Air Conditioning for optimal comfort • Fully equipped with low-energy LED Lighting Achievable rent of £40,000 (P.A) to a single tenant. Alternatively, with a strategic business approach, the potential rental income can soar to £70,000+ (PA) when rented on a per-room basis, creating a thriving business centre. This estimate does not include the additional revenue generated from meeting and training room rentals. Room-by-room rentals can command £750 - £900 PCM per room, with meeting room hire priced at £200 per day.

SUPER LOCATION close to Buchanan Street facing St Enoch Underground and St Enoch Shopping Centre. World Renowned Glasgow City Centre Within the Glasgow International Financial Services District. The property occupies an excellent position, being close to Glasgow Central Station and directly adjacent to St Enoch Subway station, whilst regular bus services pass along numerous adjacent streets including Argyle Street and Union Street.

Full Address: 24 St Enoch Square, Full Third Floor, Glasgow City Centre, G1 2DG

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2044
Rent: £27,900 per year / £2,325 per month
Yield: 11% (approx)
Tenant: Company
Notes:

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Pricing Information & Bidding

Opening Bid: £250,000

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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Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)

STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

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Auction Details

Date & Time: 23 January 2025, 10am-3pm
Type: Timed Online Auction

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