Land for sale in 6 Claremont Street, Finnieston, Glasgow G3
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Property features
- Close to Expressway, M8, Skypark, Hydro and secc.
- Within thriving Finnieston area close to transport links.
- Small, but well-established and popular eaterie.
- Total Net Internal Area 35 sq.m. (377 sq.ft.) approximately.
- VAT free purchase.
- Let till 2036 with a passing rent of £13,500 p.a.
- Offers over £160,000 (niy of 8.3%).
Property description
For Sale – Hot Food Investment, 6 Claremont Street, Finnieston, Glasgow G3 7Ha
The property is on the east side of Claremont Street next to its junction with Argyle Street in the Finnieston area of Glasgow, which lies approximately half a mile to the west of the city centre. Claremont Street is stopped up at its junction with Argyle Street consequently vehicular access is via Dover Street or from Kent Road off Argyle Street as shown on the attached Ordnance Survey and location plans.
Being within Glasgow’s thriving Finnieston area, the property is within easy walking distance of the Skypark Business Centre, the ovo Hydro, and the secc plus the Clydeside Expressway and M8 are both readily accessible. The area is well served by public transport with numerous bus services along Argyle Street to, and from, the city plus both Exhibition Centre and Charing Cross Railway Stations are within easy walking distance.
The profile of Finnieston has risen in recent years and it is now a vibrant commercial location noted for its rich variety of public houses and restaurants. Indeed, Strip Joint, Café Mille, Brass Monkey and Lebowskis are all within close proximity.
Description
The subjects comprise a mid-terrace ground floor retail unit currently trading as Frank’s. The unit is within a 4-storey sandstone building with a pitched tiled roof. The upper floors of the building comprise flatted dwelling houses in separate ownership. The unit benefits from good visibility being extremely close to the junction of Argyle Street.
The unit has an aluminium framed and glazed display frontage, and internally, the subjects are contained over the ground and basement floors. At ground floor there is an open plan restaurant with seat covers for approximately 12 patrons. At basement level there is an open plan kitchen with storage facilities and a staff toilet.
Accommodation & floor areas
We calculate that the subjects have the undernoted Net Internal floor areas:-
Ground Floor: 194 sq.ft. (18.04 sq.m.)
First Floor: 183 sq.ft. (16.96 sq.m.)
Total: 377 sq.ft. (35.00 sq.m.)
lease detail
The subjects are let to Hilldown Leisure Ltd. On a 15 year Full Repairing and Insuring lease running from 1 September 2021 until 31 August 2036. Rent reviews are at 5-yearly intervals and there is a tenant-only break clause on the 10th anniversary of the lease. The current passing rent is £13,500 per annum.
Sale term
Offers in excess of £160,000 are invited for the purchase of our Client’s heritable interest subject to, and with the benefit of the existing occupational lease. This price would reflect a Net Initial Yield of 8.3% following the deduction of purchaser’s costs.
Energy performance
A copy of the Energy Performance Certificate (EPC) for the subjects is available upon request.
Legal costs
Each party will be responsible for paying their own legal costs incurred during this transaction.
VAT
VAT will not be chargeable upon the purchase price.
Anti money laundering
Under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, DM Hall are legally required to complete due diligence on purchasers and vendors. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) shall be required to provide, as a minimum, proof of identity and residence and proof of funds for the purchase before the transaction can proceed.
Make an enquiry
Graeme Todd
or
Claire Hutton
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact
DM Hall, G2 on +44 141 376 9807 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by DM Hall, and do not constitute property particulars. Please contact DM Hall for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.