Property for sale
Property description & features
- Status: Available
- Type: Commercial
- Ownership: Freehold
- Occupation: Tenanted
- AUCTION DATE: 28 November 2024
Lower Deposit: 5% of Sale Price.
Reduced Buyers Fee: 1% of Sale Price (Min £3250 +vat)
The subjects comprise part ground floor, within a retail parade, of a traditional 4-storey sandstone tenement property under a pitched roof. The subjects also benefit from a single storey extension to the rear under a flat roof. The subjects are entered via a doorway to the left-hand side of the large display frontage with prominent backlit signage above. Internally, the premises which were refurbished only last year have been designed and fitted to a high standard with high quality finishings throughout, to create this stylish and contemporary venue, whilst retaining original features such as high ceilings and exposed stone and brickwork. A large well-equipped bar/servery runs down the full left-hand side of the unit leading into an open plan ‘theatre’ kitchen to the rear with the focal point being a large feature pizza oven. The restaurant is set up to accommodate a comfortable 50 covers by way of comfy booths in the windows, banquet seating and loose tables and chairs. The dining area benefits from one of the most spectacular outlooks in the whole of Glasgow, with uninterrupted views of the Kelvingrove Museum & Art Galleries which is possibly even more spectacular when lit up at night. The property is held on a full repairing and insuring head lease on the following terms; Tenant: MVR Leisure Ltd t/a FARINA Passing Rent: £40,000p.a Rent Review: 16th June 2026 & 16th February 2031 Lease Expiry: 15th February 2036 The subjects benefit greatly from their close proximity to the Scottish Exhibition & Conference Centre (SECC) and the Hydro concert venue, both of which are only a short walk away, and regularly play host to the biggest concerts and live shows. The Hydro has been ranked as the second busiest live entertainment arena in the World. Finnieston is a densely populated residential area, as well as a being a busy commercial area with a number of businesses and substantial office developments in the surrounding area, including the Skypark and the new Scottish Power HQ. There are also a number of substantial new residential developments planned in the area which will further benefit the surrounding businesses.
Auction Details
28 November 2024, 10am-3pm
Timed Online Auction
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