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West George Street Glasgow G2 West George Street Glasgow G2 2LB PRIME MULTI-LET OFFICE INVESTMENT WITH ASSET MANAGEMENT OPPORTUNITIES ENTER Click the buttons below to navigate MENU West George Street Glasgow G2 2LB Investment Summary • Prominent multi-let office building located in Glasgow’s CBD. • Provides a total of 1,834.18 sq m (19,744 sq ft) of good quality open plan office accommodation arranged over lower ground, ground and seven upper floors. • Asset management potential. • Rents ranging from £13.00 - £15.00 per sq ft. • Heritable Interest (Scottish equivalent of English freehold). • Seeking offers in excess of £2,800,000 exclusive of VAT reflecting a net initial yield of 9.90% assuming standard purchaser’s costs based on LBTT. Click the buttons below to navigate MENU J18 COWCADDENS REN T FRE E W ST E REET R CHARING CROSS T S STATION S D AU CHIE T O HAL E T L S E O TR E EET E TR T W BAT R S H S E ST T R E E H ET E S R T L I T S Y S L N A W L B E T T S T RE S T T G G I EN QUEEN STREET E S T U S P TRE STATION W ET W N O E ST GEO EXHIBITION CENTRE O D RG T E STR STATION S EET E I T N T B E T Location OT E N H E W E E I E LL R F ST R E R T E R ET T S S T CL YD S ESI W L N BUCHANAN STREET DE AT L E and Buchanan Street are also a short E ER O ST one77 West George Street has a X LO E P V PRE O S T INCE SS TR B O N W E G T A ET P ST Y H RE distance away. Additionally frequent bus N ET prominent position on the south side of I T ANDERSTON M T L E SECC E A L E STATION E C services run along West Regent Street E R R West George Street between Wellington THE HYDRO T T W T S S S E and Wellington Street. Road connections T Street and Hope Street in the heart of N N CENTRAL E W A O E CLYDE I STATION N R Glasgow’s Central Business District. are excellent with easy access to the AUDITORIUM N A T U S H C M8 and wider motorway network via N U E B E U LA J19 T This city centre location provides junctions 18 and 19. NC E ARG Q E Y EFIE T LE S R T LD E REE excellent access to Glasgow’s public E QUAY T T S R T A D one77 West George Street is ideally N S transport network. Glasgow Central and DE BBC HQ RSTON L ST ENOCH QUAY A A BROOMIELAW C I located in close proximity to Glasgow’s W Queen Street train stations are within a A STV HQ S E O M prime retail and leisure pitches including RIV A few minutes walk of the property, and D J IFIC PAC subway stations such as Cowcaddens Buchanan Street and Sauchiehall Street. GO VA N RO AD EST AD W EY RO PAISL Click the buttons below to navigate MENU Description one77 West George Street extends to approximately 1,834.18 sq m (19,744 sq ft) over lower ground, ground and seven upper floors with the benefit of a central atrium that extends the full height of the building. The building also has secure parking located at lower ground floor, which can be accessed via West George Lane. The accommodation comprises modern, open plan offices arranged in front and rear wings over ground to 6th floors, each with male and female toilet facilities accessed by a communal corridor. The 7th floor only extends over the front wing of the building but benefits from its own roof terrace and unisex toilet. The accommodation benefits from the following specification: • Raised access floors • Suspended ceilings • Gas central heating • Comfort cooling cassettes (in part) • Dedicated male and female toilet facilities on each floor • Refurbished communal areas • Secure private parking • Commissionaire • 24 hour access • 1 x 13 person passenger lift • Disabled access Click the buttons below to navigate MENU Surrounding ST ENOCH CENTRE Occupiers 1 THE WEIR GROUP, ST ENOCH CMS CAMERON MCKENNA, SHEPHERD & WEDDERBURN PRINCES 2 BRODIES, DELOITTE, ARMANI SQUARE 2 GRANT THORNTON, DWF CENTRAL 3 CAPITA GEORGE STATION SQUARE 4 LLOYDS BANKING GROUP 5 REGUS 6 STANDARD LIFE 3 9 QUEEN STREET 8 STATION 7 RBS 13 8 CIGNA 10 18 9 SCOTTISH & SOUTHERN ENERGY 4 11 BUCHANAN STREET 10 HYMANS ROBERSTON 7 ASHURST 1 5 15 11 SCOTTISH ENTERPRISE 12 GLASGOW 14 12 SKYSCANNER, NETWORK RAIL 13 JP MORGAN 6 14 STUDENT LOANS COMPANY 15 JACOBS ENGINEERING GROUP 17 16 UNITE THE UNION 17 CUSHMAN & WAKEFIELD 16 BLYTHSWOOD SQUARE Click the buttons below to navigate MENU Glasgow Glasgow is Scotland’s largest city with a population of nearly 600,000 and the third largest in the UK. The city has an extensive catchment of over 3 million people. There are 1.2 million eligible to work within a 45 minute commute of the city and 2 million within an hour. It is Scotland’s largest centre of employment, specialising in sectors such as financial and business services, health, education, retail, tourism and hospitality. Glasgow has a highly educated workforce with over 130,000 students attending the five higher education institutions and the three super colleges making it an attractive destination for business. Glasgow contributes approximately 18 billion GBP in Gross Value Add to the Scottish economy annually and according to The Global Financial Services Index 2015 it is in the top 20 European Financial Centres. Almost 17,000 companies make their home in Glasgow; together they generate a turnover of 31,101 million GBP each year. Glasgow is rapidly becoming a smart city of the future, positioning itself at the forefront of technology integration and application. The city benefits from an excellent road and rail network, with the M8 linking the city to Edinburgh in the east, the A80 / M80 to the north and the M74 to the south. It is also within an hour’s drive of three international airports and is the only UK city out with London to have its own subway. The city also has an extensive public transport network offering frequent train and bus services. It is served by two main railway stations; Glasgow Central and Queen Street. In addition to providing local services throughout central Scotland, these stations offer links to the main cities throughout the UK and all the major Scottish centres. Click the buttons below to navigate MENU Accommodation The property has been measured in accordance with International Property Measurement Standards Three (IPMS 3) and with the RICS Code of Measuring Practice (Sixth Edition). We estimate the net internal areas to be as follows: AREAS (Sixth Edition) AREAS (IPMS 3) sq m sq ft sq m sq ft Seventh Floor N/A N/A 27.39 295 (Roof Terrace) Seventh Floor 100.24 1,079 101.02 1,087 Sixth Floor 236.62 2,547 239.50 2,578 Fifth Floor 237.09 2,552 239.69 2,580 Fourth Floor 238.67 2,570 241.26 2,598 Third Floor 236.53 2,546 239.13 2,576 Second Floor 237.46 2,556 240.25 2,586 First Floor 233.56 2,514 238.76 2,570 Ground Floor 179.67 1,934 183.20 1,972 Lower Ground 134.34 1,446 136.20 1,466 TOTAL 1,834.18 19,744 1,886.40 20,308 The building also has the benefit of 4 dedicated secure car parking spaces. Typical Floor Plan Click the buttons below to navigate MENU Tenancy Schedule Floor Tenant Floor Area Net Current Rent psf Lease Expiry Lease Break Comments (sq ft) Rent pa 7th Gilkes Energy 1,079 £13,750 £12.75 31/03/2019 31/01/2017 Schedule of condition. Service charge cap. If the break option is not served the tenant is to receive 6 months rent free. Lease guaranteed by Gilbert Gilkes & Gordon Limited. 6th (front) Royal College of Nursing 1,328 £24,841 £16.82 16/03/2018 Includes 1 car parking space. 6th (rear) Rental Guarantee 1,219 £18,285 £15.00 2 year rent, rates & service charge guarantee. 5th (front) HSB Engineering Ltd 1,330 £20,597 £13.61 18/03/2024 18/03/2019 Paying half rent until 18/09/2016 – Vendor will provide a rental top up until this date. Service cap charge. Rent review on 19/03/2019. If the break option is not served the tenant is to receive 6 months rent free. Includes 1 car parking space. 5th (rear) Bank of England 1,222 £20,281 £16.60 05/03/2018 4th (front) Waterman’s 1,332 £18,872 £14.17 18/01/2025 19/01/2022 Schedule of condition. Solicitors Ltd Paying half rent until 18/01/2017 – Vendor will provide a rental top up until this date. If the break option is not served tenant pays half rent for 24 months. Rent review 19/01/22. 4th (rear) Rental Guarantee 1,238 £18,570 £15.00 2 year rent, rates & service charge guarantee. 3rd (front) CBA QS Ltd 1,318 £21,386 £14.33 01/02/2020 Service charge cap. Includes 1 car parking space.
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