Property for sale in Glassford Street, Glasgow G1

Offers over £1,800,000
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Property for sale
Tenure: Not available Council tax band: Not available

Property features

  • Town/City

Property description

Investment Overview
- 4 Glassford Street comprises 8 apartments (2 x studios, 3 x 1 bed apartments, 3 x 2 bed apartments)
- Fantastic central location in Glasgow city centre
- The portfolio is currently operating as short lets with a total net income of c.£110,000 pa over the last 5 years (with fluctuations due to Covid effect)
The properties are all classified as residential and can be rented via private rental tenancies
- We are seeking offers in excess of £1.8 million reflecting a gross investment yield of c. 6.1% on its current short let operation
- Purchase of a block of 8 apartments should result in a LBTT multiple dwellings relief to be confirmed by your tax specialist.
- Should rents of the 8 apartments be changed to private rental tenancies, we have forecasted total annual income of £98,000 per annum, reflecting a gross yield of c. 5.48%

The building ownership has accommodation over 6 floors in total. The living accommodation is based on the 1st to 4th floors with an attractive entrance hall and lobby off Glassford Street. The entrance hall benefits from a lift to all levels of the building and the building was fully renovated during its current ownership back in 2015. The properties have been managed and well-maintained by Destiny Scotland. All eight apartments run off an attractive central stair.

Each of the 1 & 2 bedroom apartments on the 1st to 3rd floors have a spacious kitchen/ living room including a fully equipped kitchen, good sized bedrooms with built in storage, stylish bathrooms or en suite shower room and a storage cupboard in each flat. On the 4th floor there are two exceptional studio apartments that provide a wonderful sense of space and a spacious loft style living feel.

EPCs will be made available. Current rateable value of £36,800 which would be amended to council tax bands if changed to residential operation.

Located in the heart of Glasgow City Centre, an area of Glasgow which has benefited from significant redevelopment in the last few decades, with both commercial developments and exclusive residential buildings. This location offers a wonderful central position and a very prominent social location within the city centre. Nearby there is a wealth of historic buildings and a range of amenities including both general and specialist shopping, wine bars and many highly acclaimed restaurants and is also conveniently located for access to the Merchant City.

The property is in close proximity to Strathclyde & Caledonian Universities, the Glasgow School of Art, the sec and The Clyde Auditorium. The area benefits from frequent public transport with easy access to Central and Queen Street Train Stations, and both St Enoch and Buchanan Street subway stations. Public transport and road links are exceptional.

Property info

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Knight Frank - Edinburgh Sales, EH2 on +44 131 268 4062 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Knight Frank - Edinburgh Sales, and do not constitute property particulars. Please contact Knight Frank - Edinburgh Sales 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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