Property for sale

121-133 Sauchiehall Street, 1st–3rd Floors, Glasgow G2

Description

121-133 Sauchiehall Street is a rare city centre development opportunity. It comprises the first to third floors of a substantial four-storey commercial building with a flat roof, extending to approximately 15,467 sq ft (1,436.93 sq m). The ground floor is in separate ownership. Access and egress are from Sauchiehall Lane to the rear.

Planning was granted in November 2025 for conversion to 21 short-term serviced apartments, subject to conditions and a Section 75 notice (ref 24/02373/lba). The proposed scheme has 9 studios, 9 one-bedroom and 3 two-bedroom apartments (24 bedrooms in total), aimed at leisure, corporate and extended-stay demand. A Scotland-based aparthotel operator with two operational Glasgow assets has approached about the scheme. The estimated rental value is £250,000 p.a., and the operator's projections point to about £271k ebitda at 83% occupancy. Offers are currently in for two commercial structures: A management agreement at 18% + VAT of gross booking revenue, or a 25-year Fri lease at £220,000 p.a.

The property is offered freehold at offers over £499,000. VAT is applicable, and each party bears its own legal costs.

Location

The property is on the south side of Sauchiehall Street, close to its junction with Hope Street in Glasgow city centre. Glasgow is Scotland's largest city and principal commercial centre, with a city population of around 650,000 and a Greater Glasgow urban area of over one million people.

Glasgow Central and Queen Street stations are within walking distance, with frequent services to Edinburgh (under 50 minutes), London, Manchester and other major cities. The city is served by Glasgow and Prestwick airports, the M8 motorway and the Subway.