Tenanted Commercial LOT 23

45 Virginia Street, Glasgow, G1 1TS
BIDDING OPENS in...

Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

INCOME PRODUCING INVESTMENT*** Ground Floor with basement retail Unit in in EXCELLENT TRADING POSITION. Well Established business in occupation producing £17,500 PA ERV £30,000. 1,780 sq ft

Held on a FRIL to Luke and Jack Ltd, expiring 31st March 2027 at £17,500pa. The tenant has been in situ for several years, no approach has been made to the tenant regarding extending their lease.

The area has been calculated to extend to the following net areas: Ground: 65.56sqm (706sq ft) Bsm: 99.81sqm (1,074sq ft) Total: 165.37sqm (1,780sq ft)

The property has been extensively renovated by the tenant with open plan retailing space at ground floor and further sales area within the basement along with offices and stores and WC facilities.

EXCELLENT LOCATION Located in the heart of the Merchant City. Neighbouring occupiers include The Polo Lounge, House Of Gods, Corinthian & Trades Hall

INCOME PRODUCING INVESTMENT*** Ground Floor with basement retail Unit in in EXCELLENT TRADING POSITION. Well Established business in occupation producing £17,500 PA ERV £30,000. 1,780 sq ft Held on a FRIL to Luke and Jack Ltd, expiring 31st March 2027 at £17,500pa. The tenant has been in situ for several years, no approach has been made to the tenant regarding extending their lease. The area has been calculated to extend to the following net areas: Ground: 65.56sqm (706sq ft) Bsm: 99.81sqm (1,074sq ft) Total: 165.37sqm (1,780sq ft) The property has been extensively renovated by the tenant with open plan retailing space at ground floor and further sales area within the basement along with offices and stores and WC facilities. EXCELLENT LOCATION Located in the heart of the Merchant City. Neighbouring occupiers include The Polo Lounge, House Of Gods, Corinthian & Trades Hall

The property is situated on the west side of Virginia Street at its junction with Wilson Street within Glasgow City Centre. Glasgow is Scotland’s largest city and the third largest city in the UK. Glasgow acts as the administrative and economic capital of the west coast of Scotland, located on the shores of the River Clyde. Glasgow’s profile as an international destination continues to grow and drives demand for hotel/serviced apartment accommodation. Glasgow is widely regarded as one of the worlds leading festival and events hosts and is also a UNESCO World City of Music destination. The SEC (Scottish Events Company) is one of the worlds busiest events venues and attributes some £309m to the Scottish economy, and £457m to the Glasgow economy highlighting the benefits to businesses within the city. The property is located in the heart of the Merchant City which enhances Glasgow City Centre's appeal as a compact, walkable, high-energy commercial zone — blending heritage prestige with contemporary retail/hospitality demand. It's particularly attractive for F&B operators, boutique retail, and short-stay hotels, with steady tourism and events boosting footfall year-round.

Full Address: 45 Virginia Street, Glasgow, G1 1TS

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 1 Year
Rent: £17,500 per year / £1,458 per month
Yield: 10% (approx)
Tenant: Company
Notes: The property is held on a full repairing and insuring head lease to Luke and Jack Ltd, expiring 31st March 2027 at a passing rent of £17,500per annum. The tenant has been in situ for several years, no approach has been made to the tenant regarding extending their lease.

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Pricing Information & Bidding

Opening Bid: £170,000

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SPECIAL Terms of Sale

  • 10% Deposit (Minimum £3,000)
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

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Auction Details

Date & Time: 19 March 2026, 10am-3pm
Type: Timed Online Auction

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