Details

Sauchiehall Street Glasgow was acquired as part of a larger Portfolio.

The unit is situated on a Prominent corner with Hope Street and is located close to Marks & Spencer. At the time of purchase the unit was acquired with a temporary tenant in-situ paying a minimal rent.

The property required a massive amount of Asset management.

Shortly after purchase the main drain into the property split and Glasgow Council refused to get involved. That left us as Manager to replace the main drain. The unit then required quite extensive refurbishment.

The demand for this unit was entirely from A3 Restaurant, takeaway or Leisure uses. Glasgow Planners refused the change of use and A3 consent was secured on appeal.

In additional we had to secure Listed Planning consent to the new proposed shop fitting and secure a route with all the other occupiers of our property for the required ventilation route. The unit is now let to a multiple A3 occupier on a 15 year lease term certain at £70,000pa which is quite a return on a purchase price of £270,000.