Substantial stand alone commercial development anchored by Glasgow City Council Library with ancillary retail investments.
Summary
- Modern Development
- Fully Let
- Centre of Gorbals Regeneration Project
- Anchored by Glasgow City Council
- Passing Rent: £124,462p.a.
- Price: o/o £1.65m
Location
The property is situated on the west side of Crown Street between its junctions with Errol Street and Old Rutherglen Road in the New Gorbals area of Glasgow.
The locale has seen extensive residential development in recent years with a small number of commercial availability to compliment the residential dwellings. Neighbouring occupiers include U-Save, I-2-I Opticians, Moss Pharmacy and Co-Op.
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Mainline Stations
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Argyle Street11 mins
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Glasgow Central15 mins
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High Street (Glasgow)16 mins
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Glasgow Queen Street17 mins
Underground Station
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Chesham6228 mins
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Amersham6267 mins
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Chalfont and Latimer6291 mins
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Chorleywood6323 mins
Further Information
Price Offers in excess of £1,650,000
Rates Payable Upon Enquiry
Description
The property comprises a substantial stand alone steel framed modern commercial development over 3 stories with 3 retail units at ground floor and library, community hub and offices at ground and upper floors.
Tenancy Summary
Each property Is held on a full repairing and insuring head lease on the following terms;
154/156 Crown Street
Held on lease to a private individual trading as “G5 Deli” occupying approx 2,013sq ft expiring 18th July 2034 at a current passing rent of £28,182per annum with rent reviews every 5 years
158 Crown Street
Let to Prince & Princess of Wales Hospice, occupying 969sq ft on a lease expiring 12th June 2029 at a passing rent of £11,500per annum. There are rent review provisions every 5 years.
160 Crown Street
Let on a personal name trading as “U Save” occupying 786sq ft on a lease expiring 14th October 2035 at a passing rent of £10,000p.a.
180 Crown Street
Let to Glasgow City Council operating as the local community hub and library occupying 7,478sq ft, held on an F.R.I Lease expiring 31st March 2032 with the next rent review falling in 2028.
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