Restaurant/cafe for sale in Cambridge Street, Glasgow G3
£375,000 (£248.02/sq. ft)
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Restaurant/cafe for sale
Council tax band:
- New 15 year Fri lease
- Rare opportunity to buy
- Quality Class 3 restaurant
- Net Initial Yield of 9.3%
- Main road frontage
Glasgow is Scotland’s largest city and is situated close to the west coast. There are four main motorways which run through the city putting it at the hub of Scotland’s road network. The City sits approximately 50 miles west of Edinburgh and connects via the M8, the main motorway network serving central Scotland.
The subject property is situated in a corner position on the west side of Cambridge Street immediately at its junction with Hill Street. Convenient access to public transport links are provided with Glasgow Central and Queen Street train stations taking less than 10 minutes’ walk. The M8 motorway takes around 3 minutes’ to drive. Nearby occupiers include Travelodge to the rear of the property, easyHotel above the property and Doubletree by Hilton across the road.
The subjects comprise a ground floor restaurant set within a 5 storey masonry and steel frame building. The 124 room easyHotel above the subject property is arranged over 4 floors and was renovated in 2012.
The property is accessed via twin recessed aluminium framed and glazed doors. Internally, the restaurant is fitted out to a high standard. The ceilings are finished in plaster/paint and incorporate a mix of spot, recessed and feature suspended LED lights. The walls are also finished in plaster/paint with brand signage at various locations. The flooring is covered with commercial laminate. Professional standard kitchens, food prep areas and ancillary accommodation is provided to the rear. There is access to the first floor which acts as a delivery area and facilitates servicing.
The subjects provide the following approximate net internal area - 140.47 sq m (1512 sq ft).
The property is let on full repairing and repairing terms for a 15 year term commencing 1st May 2022 at a current rent of £35,000 per annum. The rent is subject to upward only open market rent reviews on the fifth and tenth anniversary. The lease does not incorporate any break options.
Offers in excess of £375,000 are invited for the heritable interest (Scottish equivalent to English Freehold) which based on the rental income of £35,000 per annum would reflect a net initial yield of 9.3%.
* Sizes listed are approximate. Please contact the agent to confirm actual size.
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Kirkstone Property Consultancy, and do not constitute property particulars. Please contact Kirkstone Property Consultancy 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.
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