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50-52 Argyle St

24,246 SF 100% Leased Retail Building Glasgow G2 8AG £1,100,000 (£45/SF) 10.45% Net Initial Yield

Investment Highlights

  • The advertising hoarding on the scaffolding is currently let at £115,000 p.a.
  • City Centre location in Glasgow's Prime Retail Area
  • Prominent Corner Site with Return Frontage

Executive Summary

The property is a very prominent and attractive 8 storey red sandstone building at the junction of Argyle Street and Miller Street and benefits from B listing status(www.historicenvironment.scot). It provides a mixed use development opportunity occupying a corner site of approximately (0.05 acres). The upper floors are accessed at the rear of the property via 2 Miller Street which forms part of the property. The external scaffolding was erected in 2018 for stone inspection purposes and for the refurbishment work to the property. The scaffolding is now used as a largescale advertising hoarding with return frontage onto Argyle Street and Miller Street is let on a lease.

Property Facts

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
24,246 SF
Building Class
B
Year Built/Renovated
1912/2024
Price
£1,100,000
Price Per SF
£45
Net Initial Yield
10.45%
NOI
£115,000
Percent Leased
100%
Tenancy
Multiple
Number of Floors
9
Building FAR
18.55
Land Acres
0.03 AC
Frontage
53 ft on Argyle St

Amenities

  • Storage Space

Nearby Major Retailers

Barclays
Eurochange
Starbucks
Costa Coffee
Nando's
Gloria Jean's Coffees
Wagamama
Sainsbury's
Caffe Nero
Santander
  • Listing ID: 33312631

  • Date on Market: 26/09/2024

  • Last Updated:

  • Address: 50-52 Argyle St, Glasgow G2 8AG

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