Leisure/hospitality for sale in 423 Paisley Road West, Glasgow G51

Wsa2681 – Bellahouston Business Centre, 423 Paisley Road West, Glasgow G51 1Pz

The subjects occupy a prominent position on the south side of Paisley Road West next to its junction with North Gower Street in the Ibrox area of Glasgow approximately 4 miles south west of the City Centre.

The property benefits from excellent transport/ communication links with Cessnock Underground Station within a five minute walk. There are also numerous bus services to, and from, the City which pass along Paisley Road West, with bus stops virtually adjacent to the property. In addition, Dumbreck Railway Station is within a 10 minute walk to the south via a pedestrian/cycle bridge over the M8. Junction 24 of the M8 is less than half a mile to the west and this provides convenient access to the motorway and onward connections to the M77 and M74.

Paisley Road West has a wide variety of commercial, retail, restaurant and public house amenities neighbouring the property. Also, to the rear of the subjects is a recent development of 36 flats by Home Group.

Description

The property has a rich history, being first opened in 1876 and run as a private school, Bellahouston Academy. Following closure as a school in 2008/2009, the property was extensively refurbished, upgraded and converted in 2015 to provide what is now Bellahouston Business Centre.

This striking, and attractive, Grade B Listed building comprises accommodation set over two floors within a two storey, attic and basement building of stone construction with a multi-pitched slated roof. There is a main vehicular entrance from Paisley Road West leading to a fully enclosed dedicated car park providing 48 spaces for building occupiers, visitors and disabled drivers.

Access to the building is via the main central entrance situated below the impressive former clock and bell tower. This entrance leads to an extremely attractive reception and break out area with full height atrium, incorporating carved timber roof trusses and stunning full length skylights which provide excellent natural daylighting.

As shown on the indicative plans overleaf, there a total of 28 office suites situated around the perimeter of the central atrium, these being on ground and first floors.

The suites generally have suspended ceilings incorporating light fittings, a dedicated electrical supply and central heating to original radiators via a communal gas boiler. The subjects are dda compliant having further entrance doors at the side elevation where there is ramped wheelchair access. The property also has a lift, a conference room, communal kitchen facilities plus male, female and disabled toilets on each floor.
The basement is utilised as a plant room but both it and the attic space are limited in terms of use.

Accommodation and Floor Areas

The subjects have approximate net internal floor areas as undernoted:-

Ground Floor: 585.56 sq.m. 6,303 sq. Ft.

First Floor: 687.48 sq.m. 7,400 sq.ft.

Total: 1,273.04 sq.m. 13,703 sq.ft.

In calculating the net internal area, in accordance with the RICS Code of Measuring Practice, we have excluded toilets and circulation space, including the common reception/break out area. Were these to be included, it would total 2,064.43 sq.m. (22,221 sq.ft.) approximately.

Planning

The property has an existing Class 4 office use however our clients believe the subjects offer considerable potential for a wide variety of potential uses such as residential accommodation, serviced flats, student accommodation, hostel premises, exhibition/gallery space or a reversion to the historic use of a school or training centre. Naturally such uses would require planning consent for development/change of use and parties should make formal inquiries in this respect to:-

Glasgow City Council, Planning Department
Tel: Or
Email:

Rating assessment

With reference to the Scottish Assessors’ Association website, the subjects have multiple entries given their current use as a business centre. The Rateable Values of individual suites ranges from £1,600 - £6,400 permitting business space occupiers to apply for rates relief through the Small Business Bonus Scheme.

Energy performance

The Business Centre has a single Energy Performance Certificate with rating of e-68. A copy of the EPC can be provided upon request.

VAT

VAT will be chargeable on the purchase price.

Legal costs

Each party will be responsible for their own legal costs incurred in the transaction.

Sale terms

Offers in excess of £1.25 million are invited for the purchase of our Client’s Heritable interest.

As at the date of publication of these particulars there are a number of tenants in occupation at the Business Centre. However, all tenancies are short term in nature and it is anticipated that any sale will be subject to vacant possession.

Anti money laundering

DM Hall is regulated by hmrc in its compliance with the UK Money Laundering under the 5th Directive of the Money Laundering Regulations, effective from 10th January 2020, the agents are required to undertake due diligence on interested parties.

Viewing arrangements

Strictly by contacting the sole selling agents:-

Graeme Todd

or

Claire Hutton