57-61 St Vincent St | Glasgow G2 5TS
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57-61 St Vincent St
Glasgow G2 5TS
Retail Property For Sale
Investment Highlights
- Glasgow is Scotland’s largest city and the third largest in the UK
- Potential to add value by refurbishing and utilising upper floors for alternative use
- Mixed use investment extending to approximately 10,097 sq. ft, let in its entirety to Five Guys JV Limited (T/A Five Guys) until May 2041
- Rare opportunity to acquire an entire prime mixed-use block on St Vincent Street, just off Buchanan Street, with secured long term income
- Prime location on St Vincent Street, a short distance from Glasgow Central Station
Executive Summary
A prime investment opportunity to acquire the freehold interest in a prominent ground floor retail unit which is entirely Let to Five Guys JV Limited (T/a Five Guys) on a FRI Lease for 30 years from 03/05/2011 at current rent of £220,000 p.a, with no breaks. Rent Review: 3/5/2021 outstanding. Lease assigned to current tenant in August 2014. Next rent review 3 May 2026 and 5 yearly thereafter. There is a sum of £315,157 held in deposit as a lease guarantee.
The property is located on St Vincent Street is adjacent to Buchanan Street, the prime location for high-end fashion retailers in the city-centre. Buchanan Street is the 2nd busiest high street within the UK with an average hourly footfall of 6,020 people and a vacancy rate of just 3%. St Vincent Street accommodates a mixture of prime office, retail and leisure units, drawing large quantities of footfall from all sectors. St Vincent Street will benefit from the in excess of £100m that has been allocated from within the City Deal to the Avenues Project.
The property is located on St Vincent Street is adjacent to Buchanan Street, the prime location for high-end fashion retailers in the city-centre. Buchanan Street is the 2nd busiest high street within the UK with an average hourly footfall of 6,020 people and a vacancy rate of just 3%. St Vincent Street accommodates a mixture of prime office, retail and leisure units, drawing large quantities of footfall from all sectors. St Vincent Street will benefit from the in excess of £100m that has been allocated from within the City Deal to the Avenues Project.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Office
Building Size
10,097 SF
Building Class
B
Year Built
1850
Price
£3,500,000
Price Per SF
£347
Net Initial Yield
6.29%
NOI
£220,000
Tenancy
Single
Number of Floors
5
Building FAR
0.83
Lot Size
0.28 AC
Frontage
47 ft on St Vincent Street
Amenities
- Bus Route
- Security System
- Storage Space
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