Description
A rare opportunity to acquire a licensed bar and restaurant investment situated in the West End of Glasgow.
The tenant has been in situ since 2009 with the business trading as 'The Taphouse Bar & Kitchen'.
Please note the business is not for sale and will be unaffected by any sale
The current lease expires in 2039.
Location
The Property, situated on the corner of Argyle Street and Berkeley Street, is in a prime location within Glasgow. It is approximately a quarter mile to the west of Glasgow City Centre.
Argyle Street is a major arterial route into the city so there is good transport and bus links to the city centre, in addition to the Exhibition Railway Station (which links to the west rail network).
The majority of the business demand is generated from the Hydro/SECC events centre, which are located in the north bank of the River Clyde, c.800 metres to the south of the property.
The wider Finnieston area is now a recognised licensed circuit with a significant number and range of bars and restaurants. The Kelvingrove Park with Kelvingrove Art Gallery & Museum are less than half a mile west, adjacent to the south side of the University of Glasgow Campus. Access to the M8 motorway is less than half a mile south east of the Property.
Glasgow is the most populous city in Scotland and, with a population of 621,020 (2017 census), the third most populous city in the UK. It offers a blend of internationally-acclaimed museums and galleries, renowned concert and conferencing venues, stunning architecture, vibrant night-life, fantastic shopping and a diverse array of restaurants and bars, making the city an increasingly popular business centre and tourist destination for short breaks.Internal Details
The property can be accessed via Argyle Street or Berkeley Street.
As you enter from Argyle Street the bar is situated ahead, to the rear. To the right is a small fully fitted commercial kitchen with male, female and a disabled toilet located to the left of the bar.
The restaurant can accommodate for around 50 via a mixture of moveable tables, chairs and high standing tables. The property has been well maintained and is modern and trendy throughout.
The basement can be accessed via the bar area and mirrors the existing footprint of the ground floor.Fixtures & Fittings
A full inventory confirming the ownership of existing fixtures and fittings will be provided throughout the sales process.External Details
The property is situated on the ground floor of a four storey tenement building.
Outside seating is to the side and can accommodate around 10.
Metered parking is available within the immediate area on a first come first served basis.Investment Summary
Tenant - Neighbourhood Glasgow Ltd
Annual Rent - £38,520 + £4,000 admin fee
Rent Review - 31.01.2029
Lease End Date - 31.10.2039Business Rates
The Rateable Value is £27,000 with effect from 1 April 2023.
Confirmation of actual business rates payable should be obtained from the Local Authority.Regulatory
Premises License
