Summary

• Located in the heart of Glasgow’s sought-after West End.
  
• Potential for residential or mixed-use redevelopment (subject to planning).
  
• Income producing asset.
  
• Dedicated car parking located to the rear – 10 spaces and lock up garage.
  
• Total GIA – 1573 sq.m. (16,934 sq.ft.) approx.
  
• Offers over £2.1m are invited.

Location

The property is situated in a prime position on the East side of Otago Street, just a short distance from Great Western Road in Glasgow’s thriving West End.

The property benefits from superb public transport links, with Kelvinbridge and Hillhead Subway  stations within easy walking distance, in addition to frequent bus services and convenient road access to the M8 motorway and Clyde Tunnel.

The surrounding area is a mix of residential, commercial, and Glasgow University educational buildings, offering an excellent range of amenities including cafés, restaurants, bars, independent shops, and green spaces such as Kelvingrove Park and the Botanic Gardens.

Description

The premises comprise a traditional sandstone building with secure entry and passenger lift access to all floors.

The building is currently fitted out for office/studio space and includes cellular and open-plan rooms with toilets and kitchen facilities on each floor.

Externally, the property benefits from rear car parking for 10 spaces.

The character and proportions of the property lend themselves well to alternative uses including conversion to residential flats (subject to planning).

ACCOMMODATION

Basement: 279.73 sq.m. 3,011 sq.ft.
Lower Ground: 267.09 sq.m. 2,875 sq.ft.
Ground:  215.63 sq.m. 2,321 sq.ft.
First:  227.33 sq.m. 2,447 sq.ft.
Second: 213.12 sq.m. 2,294 sq.ft.
Third: 216.46 sq.m. 2,330 sq.ft.
Fourth: 153.85 sq.m. 1,656 sq.ft.

TOTAL: 1,573 sq.m. 16,934 sq.ft.

ENERGY PERFORMANCE

A copy of the Energy Performance Certificates (EPC) for the subjects are available upon request.

NON-DOMESTIC RATES

According to the Scottish Assessors Association, the property has the following Rateable Values:

Basement – £15,000
Lower Ground – £15,000
Ground – £14,600
First – £13,600
Second – £12,700
Third – £12,900
Fourth – £8,300

PLANNING

The property has an existing Class 4 office use, however, we believe the subjects offer considerable potential for a wide variety of uses such as residential accommodation, serviced flats, student accommodation or hostel premises.

Naturally, such uses would require planning consent for development/change of use. Parties should however make their own formal inquiries concerning change of use and development to:

Glasgow City Council (Planning Department)
T: 0141 287 8555
E: planningenquiry@glasgow.gov.uk

SALE TERMS

Offers in excess of £2,100,000 are invited for the purchase of our Client’s heritable interest subject to, and with the benefit of the existing occupational leases. Further information can be requested through the Selling Agents.

TENANCY SCHEDULE

A number of tenants are currently producing a rental income for the building and the ground floor is currently under offer at £37,000 per annum, bringing the total income to £142,150.

LEGAL COSTS

Each party will be responsible for paying their own legal costs incurred in this transaction.

VAT

All prices quoted are exclusive of VAT, which will be payable.

VIEWING ARRANGEMENTS

Strictly by contacting the sole selling agents.

ANTI-MONEY LAUNDERING

DM Hall is regulated by HMRC in its compliance with the UK Money Laundering under the 5th Directive of the Money Laundering Regulations, effective from 10th January 2020, the agents are required to undertake due diligence on purchasers and vendors. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) shall be required to provide, as a minimum, proof of identity and residence and proof of funds for the purchase before the transaction can proceed.

Jonathan McManus MRICS
Jonathan.McManus@dmhall.co.uk
07771 606582

or

Claire Hutton MRICS
Claire.Hutton@dmhall.co.uk
07876 541654