Description

15,500sq ft Building comprising 1st - 3rd Floors with Planning In Place for 21 Serviced Apartments. Elevator In Situ. *** ESTIMATED RENTAL VALUE = £250,000p.a. ***

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 ***

The property benefits from access and egress from Sauchiehall Lane to the rear.

We understand there has previously been an approach from an Aparthotel operator.

The property comprises a substantial 4 storey commercial development surmounted by a flat roof. The property benefits from access and egress from Sauchiehall Lane to the rear. 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 Aparthotel Proposal - 1st, 2nd & 3rd Floors We understand there has previously been an approach from an Aparthotel operator - an outline of their proposal is detailed below; The proposed operator is a Glasgow-based aparthotel operator with two operational assets demonstrating strong performance in Glasgow and Edinburgh For the proposed 21-unit development at 123 Sauchiehall Street, Glasgow, the operator is suggesting 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 the owner with an appropriate balance of income certainty and operational alignment. LINK TO PLANNING (COPY AND PASTE INTO WEB BROWSER)... https://publicaccess.glasgow.gov.uk/online-applications/applicationDetails.do?activeTab=documents&keyVal=SKFGQUEXJNX00

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.

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