95 Hope Street
Trading as SNAP Fitness.
In excess of 14 years left on the lease term.
Let to MSG Life Realty Limited at £55,000 per annum
Offers over £650,000 are invited reflecting NIY 8.06%
LocationThe subjects are located on Hope Street just up from the junction with Waterloo Street and directly across from the Glasgow Central Station Hope Street entrance. Hope Street is one of the main thoroughfares through Glasgow City Centre and is extremely busy at most times of the day in terms of pedestrian footfall and traffic flow.
In close proximity to the subjects are the next door Café Nero as well as the Pizza Crolla takeaway shop and a Tesco Metro. The subjects are merely a 2 minute walk from Buchanan Street, Glasgow’s prime retail location.
DescriptionThe subjects are arranged over ground floor and lower ground floor and accessed from via glass double doors on Hope Street. The ground floor for the most part is used as a main entrance and reception area before a stairwell leads downstairs to the main gym area containing ladies and gents changing facilities as well as toilets and showers. The gym has been recently redecorated in the SNAP Fitness Corporate design and is well presented.
The subjects extend to approximately 600 sq.ft. at ground floor level with approximately 7,000 sq.ft. at lower ground floor level.
BusinessThe subjects are let to MSG Life Realty Limited on a full repairing and insuring lease expiring 26th September 2032. The current rent payable is £55,000
per annum and the tenant has a break option as at 26th September 2027 on the basis of 6 months prior written notice.
Our client is seeking offers over £650,000 for the benefit of their freehold interest reflecting a net initial yield of 8.06% after deduction of standard normal purchasers costs.