FOR SALE
13-29 Argyle Street
Glasgow
G2 8BH

Rare Opportunity - Glasgow City Centre
100% Prime Retail Opportunity

Sizes: See Particulars
Price: Offers over £2.8m
Opportunity Summary
  • Opportunity to acquire a retail parade located in an excellent position directly opposite Marks & Spencer on Argyle Street.
  • Glasgow is Scotland’s largest city and is widely acknowledged as being the UK’s best retail centre outside London.
  • The City of Glasgow has a population of 650,000 people and estimated to have a wider catchment of 2.5 million.
  • Glasgow comprises the largest GDP per capita in the United Kingdom and is ranked as the highest catchment spend out of the top UK retailing centres.
  • The subjects comprise three retail unts in an unbroken parade extending to over 20,000 sq ft.
  • All units are currently occupied on short term deals and vacant possession can be acquired.
  • Heritable tenure (Scottish equivalent of English Freehold).
  • We are instructed to seek offers in excess of £2.8m (Two Million Eight Hundred Thousand Pounds plus VAT), subject to contract.
Location / Accommodation

The City of Glasgow has a population of around 650,000 people and is estimated to have a wider catchment of approximately 2.5 million. Argyle Street is one of the main shopping streets in the city centre.
The retail block is located immediately to the east of the St Enoch Shopping Centre and occupies a prominent position directly opposite Marks & Spencer. Part of the subjects demise also extends to a retail unit fronting onto Stockwell Street. The property is situated in the prime pedestrianised section, close to its junction with Stockwell Street, one of the main arterial bus routes serving the city centre. Argyle Street “low level” train station is also located immediately adjacent to the property. Nearby retailers include HMV, H&M, TK Maxx, River Island, Primark, JD Sports, Caffe Nero, Sainsbury’s and Tesco.

13/17 Argyle Street
Ground: 2,569 sq ft / 238.75 sqm
Basement: 1,007 sq ft / 93.59 sqm
First: 2,889 sq ft / 268.49 sqm

19/23 Argyle Street
Ground: 2,881 sq ft / 267.75 sqm
Basement: 647 sq ft / 60.13 sqm
First: 3,659 sq ft / 340.06 sqm

25/29 Argyle Street
Ground: 3,236 sq ft / 300.74 sqm
Basement: 482 sq ft / 44.8 sqm
First: 3,783 sq ft / 351.58 sqm

16 Stockwell Street
Ground: 946 sq ft / 87.92 sqm
First: 1,402 sq ft / 130.30 sqm

Opportunity to be purchased as a whole or individually.

35 Argyle Street, which lies adjacent to the subjects (held under separate ownership), extending to 7,474 sq ft GIA over ground, first and second floors could also be made available to increase the space  available for redevelopment. Further details available on request.

Price

We are instructed to seek offers in excess of £2.8m (Two Million Eight Hundred Thousand Pounds plus VAT), subject to contract.

Rates (2023/24)

13/17 Argyle Street
Rateable Value: £77,000
Rates Payable: £39,347 pa

19/23 Argyle Street
Rateable Value: £81,000
Rates Payable: £41,391 pa

25/29 Argyle Street
Rateable Value: £78,000
Rates Payable: £39,858 pa

16 Stockwell Street
Rateable Value: £28,250
Rates Payable: £14,069 pa

Planning / EPC

The premises currently benefit from having Class 1A consent. In 2007, planning consent was granted to replace 13-29 Argyle Street with a single redeveloped retail unit extending to 32,400 sq ft over 3 floors. This was never implemented however it demonstrated the ability to replace the existing buildings on the site. Further details of this proposal can be found on the Glasgow Council Planning Portal, reference
number – 06/03933/DC. Further details on request.  Alternatively, a mixed use development over a greater number of storey’s could be incorporated. Interested parties should make their own enquiries to Glasgow City Council planning department to discuss their proposals for the site.

An EPC report is available on request.

Legal Costs

Each party to be responsible for their own legal and professional costs incurred in this transaction. For the avoidance of doubt the ingoing tenant will be responsible for Land & Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.

Anti-Money Laundering Regulations

In order to comply with anti-money laundering legislation, the successful purchaser/tenant will be required to provide certain identification documents. The required documents will be requested at the relevant time.

FOR SALE

13-29 Argyle Street
Glasgow
G2 8BH
Viewing strictly by appointment with ORINSEN

Andy Bain
T. 0131 374 1111
M. 07770 524 977
E. abain@orinsen.com

Charlotte Young
T. 0131 374 1111
M. 07825 167 883
E. cyoung@orinsen.com

Important Notice

ORINSEN, their clients and any joint agents give notice that:

They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise.  They assume no responsibility for any statement that may be made in these particulars.  These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

Any areas, measurements or distances are approximate.  The text, photographs and plans are for guidance only and are not necessarily comprehensive.  It is assumed that the property has all necessary planning, building regulations or other consents and ORINSEN have not tested any services, equipment or facilities. 

Purchasers must satisfy themselves by inspection or otherwise.Unless otherwise stated all prices and rents are quoted exclusive of VAT. Prospective purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.

Published 30.09.20

© Orinsen 2024 All Rights Reserved

Registered in Scotland No. SC647800   t+cs   data policy

Scottish Property Awards 2023

Website by Vipond & Co.