Hope Street, Glasgow, G2 3PN
For Sale - Investment
Offers over £850,000
About this property
EXECUTIVE SUMMARY
• Attractive net initial yield of 7.23%
• Tenant – Ladbrokes Betting & Gaming Ltd – 5A1 D&B rating
• Would ideally suit a private individual/SIPP
• Passing rental £65,000 p.a
• Reversionary potential in October 2011
LOCATION
The subject property is located in a prominent corner position on Hope Street at its junction with Cambridge Street. Sauchiehall Street and The Savoy Centre are in close proximity, as are a number of public houses and leisure users, which are obviously a benefit to the tenant.
DESCRIPTION
The property comprises a ground floor retail unit. The building is planned over four storeys, attic through to basement and is of traditional stone construction surmounted by a slate roof.
The tenant has fitted out the unit as a licensed betting office and they have sub-divided it to form a main retailing area, counter area, ancillary storerooms, a staff room and staff welfare accommodation. In addition, there is a ladies, gents and disabled customer toilet accommodation.
The internal accommodation is finished to a similar standard throughout, compromising of a suspended ceiling, timber floor overlaid in part timber laminate flooring.
A staff area is located towards the rear of the property and has been subdivided to form a staff kitchen/rest room, staff toilet and store. A further storage/ancillary area is located to the front of the subject property. Male, female and disabled customer toilets are located towards the rear of the property.
TENURE
The property is held on heritable title (Scottish equivalent of English freehold).
Property Reference To Quote for enquiries: hope-street/228
Price
Property is For Sale - Investment, and is: Offers over £850,000
