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24 George Sq 27,381 sq ft Office / Retail Unit Offered at £2,500,000 in Glasgow G2 1EG
Investment Highlights
- Close proximity to Queen Street Railway Station and Buchanan Street Subway Station.
- Ground - 5th Floor
- Hotel / ApartHotel / Residential / Student (STPP)
- Overlooks George Square
- 27,381sq ft
- Price: £2,500,000
Executive Summary
The property comprises a building of masonry construction, containing retail and office accommodation. Construction on the property was completed in 1900. Situated in Glasgow city centre, the property is within close proximity to Queen Street Railway Station and Buchanan Street Subway Station.
1 Unit Available
- Unit
- Unit Size
- Unit Use
- Price
- NOI
| Sale Type | Investment | Tenure | Freehold |
| Sale Type | Investment |
| Tenure | Freehold |
Description
The property offers a mixture of commercial office space at upper floors with a 121 cover restaurant at ground floor.
Sale Notes
The ground floor restaurant is currently let trading as "Elia" Greek Restaurant expiring 2034 with no breaks. The current passing rent is £55,000p.a.x. We understand the next rent review is in 2029 with a significant rental uplift expected.
The upper floors are held on an occupational lease to Refuweegee Charity who are liable for their own utilities.
J.D. Wetherspoons contribute a portion of the service charge to the common areas of the building.
Further information available on request.
An agreement has been reached for external advertising space at the corner of George Square and St Vincent Place at a rate of £13,000per 28 days on a pro rata basis. Further information available on request.
The upper floors are held on an occupational lease to Refuweegee Charity who are liable for their own utilities.
J.D. Wetherspoons contribute a portion of the service charge to the common areas of the building.
Further information available on request.
An agreement has been reached for external advertising space at the corner of George Square and St Vincent Place at a rate of £13,000per 28 days on a pro rata basis. Further information available on request.
| Unit | Unit Size | Unit Use | Price | NOI |
| Unit Counting House | 27,381 sq ft | Office / Retail | £2,500,000 (£91.30/sq ft) | - |
Unit Counting House
| Unit Size |
| 27,381 sq ft |
| Unit Use |
| Office / Retail |
| Price |
| £2,500,000 (£91.30/sq ft) |
| NOI |
| - |
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Unit Counting House
| Unit Size | 27,381 sq ft |
| Unit Use | Office / Retail |
| Price | £2,500,000 (£91.30/sq ft) |
| NOI | - |
| Sale Type | Investment |
| Tenure | Freehold |
| Description | |
| The property offers a mixture of commercial office space at upper floors with a 121 cover restaurant at ground floor.</li></ul> | |
| Sale Notes | |
| The ground floor restaurant is currently let trading as "Elia" Greek Restaurant expiring 2034 with no breaks. The current passing rent is £55,000p.a.x. We understand the next rent review is in 2029 with a significant rental uplift expected.<br> <br> The upper floors are held on an occupational lease to Refuweegee Charity who are liable for their own utilities.<br> <br> J.D. Wetherspoons contribute a portion of the service charge to the common areas of the building.<br> <br> Further information available on request.<br> <br> An agreement has been reached for external advertising space at the corner of George Square and St Vincent Place at a rate of £13,000per 28 days on a pro rata basis. Further information available on request.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Property Size | 55,877 sq ft | Floors | 6 |
| Property Type | Retail (Unit) | Typical Floor Size | 8,626 sq ft |
| Property Subtype | Shopfront Retail / Office | Year Built | 1900 |
| Costar Property Class | B | Total Plot Size | 0.21 ac |
| Total Property Size | 55,877 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Office |
| Costar Property Class | B |
| Floors | 6 |
| Typical Floor Size | 8,626 sq ft |
| Year Built | 1900 |
| Total Plot Size | 0.21 ac |
Amenities
- Bus Route
- Security System
- Storage Space
- High Ceilings
- Natural Light
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Street
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24 George Sq
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