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Opportunity to refurbish and reposition

Glasgow, United Kingdom

90%

£21.000.000

Office

#33357

Value-Add

27 Oct 2024

Property Details

Broker

For sale

135,968 sq.ft.

12,632 m²

Leasable area

154 £/sq.ft.

1,662 £/m²

9

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Building is located on Glasgow’s prime business address. The existing building comprises 135,968 sq ft (12,632 sq m) on a 0.647 acre site. Originally constructed in 1931, it is Grade B listed and has wonderful history and heritage credentials. Positioned within a 5-minute walk of Glasgow Central Station, Scotland’s largest railway station. Current low average passing rent of £1,280,127.34 per annum. Low average passing office rent of £19.85 per sq ft, offering significant reversion potential. Blended WAULT is 5.31 years to the earliest lease breaks and 5.47 years to the lease expiries, effective of September 2023.