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2 Merkland Street, Entire 1st, 2nd and 3rd Floors, West End, Glasgow, G11 6DD
***DEVELOPMENT & INVESTMENT OPPORTUNITY***100% prime west end of Glasgow location. Entire upper floors of prominent landmark West End building***Next to Partick Train Station, Subway Station & Bus St
- The first floor comprises of 2 separate offices that are currently let with leases expiring in 2019 & 2020. The 2nd floor is in perfect condition and vacant, ready to be let.
- ***Asset Management Opportunity***The estimated potential income from the property, if utilised as smaller offices & the 3rd floor refurbished would be in excess of £61,000 per annum*** 15% YIELD
- Highly desirable District***Ideal for Residential Development (subject to planning) *** With a Potential gross development value circa £1m if renovated into 5 Luxury flats over 3 floors***
- Being Sold by instruction of Asset Managers***Incredible Potential & Ideal for asset managers*** Glasgow’s West End is continually undergoing massive development & regeneration***
Freehold- Outright ownership of the property and land on which it stands.
Vacant- Full vacant possession offered at time of completion.
Full Details:ONCE IN A LIFETIME OPPORTUNITY***to acquire the full upper floors of a landmark Building in the West End of Glasgow***Huge potential for ongoing commercial use or converting into a number of flats (subject to planning) ***Possible Enormous Development Return (subject to planning & consents) *** If the 1st & 2nd floors were converted into 11 smaller offices at a rent of £4200 per annum per office and the 3rd floor was rented for £15k per annum the Total Combined rent for the building would be £61,200 per annum*** If developed into 5 flats (subject to planning) the 1st floor & 2nd floor would each comprise: 1 x 1 bed & 1 x 2 bed flats and the 3rd floor would be an amazing 3 bedroom penthouse flat*** The 2 1st floor ofcies are currently let. 1 for £6k per annum & 1 for £7.2k per annum (both rents includes vat). The building is subject to vat. However, any purchase could be treated as a TOGC with no vat payable. Independent advice should be taken regarding this***
What is a Guide Price...Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Unless specified all properties are subject to a Reserve (minimum acceptable price) which we expect will be set no more than 10% above or below the advertised guide.
Bid Now Explained...You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.
Map & Location:
Being Sold by instruction of Asset Managers***Incredible Potential & Ideal for asset managers*** Glasgow’s West End is continually undergoing massive development & regeneration*** This is a once in a lifetime opportunity to acquire the entire upper floors of a landmark building. West end of Glasgow RARELY AVAILABLE. Minutes to trendy Byres Road, Glasgow University, Kelvingrove Park and Crow Road/Hyndland. Fantastic position in highly desirable WEST END!!
Open Viewings Scheduled...
Viewing Times TBC - Check back soon...
Internal Open Viewings...
This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.
External Viewings Anytime...
You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.
Floor plan:Click Image To Enlarge
04 February 2019
Glasgow Radisson Hotel
301 Argyle Street, G2 8DL
Registration...You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.
Legal Packs...All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.
Deposits...If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:
Deposit Method...Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.
How To Bid:
Offer Now...You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.
Bid Live in Person...Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.
Bid by Phone Live...If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...
Download the Telephone Bidders Form
Bid by Proxy... (Ebay Style Highest Bid)
This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...