Description

PRIME INVESTMENT*** City Centre Location. Full Building SUPERSIZE 23,775sq ft RARE DEVELOPMENT OPPORTUNITY Planning for 21 Aparthotel / ST Lettings at Upper Floors. PART INCOME PRODUCING

The property comprises a substantial 4 storey commercial development surmounted by a flat roof. The ground floor offers multiple retail units with prominent glazed frontages.

Each ground floor retail unit is held on an F.R.I lease with the 1st, 2nd and 3rd floors currently vacant, able to lend themselves to conversion to short term accommodation or residential dwellings.

Planning was granted in November 2025 for conversion to 21 short term serviced apartments, subject to conditions and a Section 75 notice under planning ref 24/02373/LBA

PRIME INVESTMENT PROPERTY in excellent trading position **PERFECT ADDITION TO ANY PORTFOLIO** SUPER TRADING POSITION *** Ground Floor Income Producing £99,000p.a. E.R.V. £350,000p.a.

Executive Summary 123 Sauchiehall Street, Glasgow Held on an F.R.I Lease to Gleaming Gifts Ltd on a rolling month to month lease at a passing rent of £36,000p.a. The unit is formed over ground floor and basement extending to approx 6,185sq ft 131 Sauchiehall Street, Glasgow Held on and F.R.I Lease to Mr Tea (HK) Ltd expiring 13th June 2030 at a passing rent of £18,000p.a. with tenant break and rent review in 2028. The unit extends to 1,008sq ft. 133 Sauchiehall Street, Glasgow Held on an F.R.I Lease to Newsbox Group Ltd expiring 14th November 2034 at a passing rent of £45,000p.a. with no reviews or breaks. The unit extends to 1,685sq ft. Aparthotel Proposal - 1st, 2nd & 3rd Floors We understand there has previously been an approach from Moment Stays Aparthotel operator - an outline of their proposal is detailed below; Moment Stays is a Glasgow-based aparthotel operator with two operational assets demonstrating strong performance. Its Blythswood Square property in Glasgow, launched in August 2025, has outperformed initial forecasts and ranks among the city’s highest-rated aparthotels despite ongoing heating system issues. Its flagship Edinburgh property at George IV Bridge, launched in February 2025, is the highest-rated aparthotel in the city and exceeded stabilised projections within months of opening. For the proposed 21-unit development at 123 Sauchiehall Street, Glasgow, Moment recommends a unit mix of 9 studios, 9 one-bedroom apartments and 3 two-bedroom apartments (24 bedrooms total), strategically weighted towards larger units to address post-STL licensing supply imbalances and capture higher-value leisure, family and extended-stay corporate demand. Under the central Target case, the scheme is projected to deliver approximately £271k EBITDA at 83% occupancy. The Target+ scenario rises to £306k EBITDA at 87% occupancy, while the Target- case remains strongly cash-generative at £223k EBITDA even at 80% occupancy with softer rates. Moment offers two commercial structures: a management agreement at 18% + VAT of gross booking revenue, or a 25-year IRI lease at £220,000 per annum, both designed to provide Threadneedle with an appropriate balance of income certainty and operational alignment.

Tenancy Details

Maps & Location

The property is situated on the south side of Sauchiehall Street close to its junction with Hope Street in Glasgow City Centre. Glasgow is Scotland’s largest city and principal commercial centre, located in west-central Scotland on the banks of the River Clyde. It lies approximately 40 miles (65 km) west of Edinburgh and serves as the core of the wider Glasgow City Region. With a city population of around 650,000 and a Greater Glasgow urban area exceeding one million residents, Glasgow acts as the economic, cultural and retail hub for a significant catchment across the West of Scotland and much of the Central Belt, attracting workers, shoppers and visitors from Lanarkshire, Renfrewshire, Ayrshire and beyond. The city benefits from excellent transport connectivity. It is served by Glasgow Airport, with additional access to Glasgow Prestwick Airport, while Glasgow Central and Queen Street stations provide frequent rail services to Edinburgh (under 50 minutes), London, Manchester and other major cities. The city is well connected by the M8 motorway and surrounding strategic road network, and operates an extensive bus system alongside the Glasgow Subway, Scotland’s only underground metro. This integrated transport infrastructure supports high volumes of commuter, business and leisure travel into and across the city.

Document Downloads

Pricing Information & Bidding