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Starbucks, 252/254 Byres Road Glasgow, G12 8SH

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Starbucks, 252/254 Byres Road Glasgow, G12 8SH FOR SALE Starbucks, 252/254 Byres Road Glasgow, G12 8SH Rarely available retail investment in prime West End location Property Highlights Location Description • Popular West End location Byres Road the main retailing The property has a prominent position location in Glasgow’s popular West within a 1980s building which houses • Prominent position in a very End, located around 2 miles west Hillhead Underground Station. The busy commuter location of Glasgow city centre and close to tenant trades from ground and first floors • Let to Starbucks Coffee the University of Glasgow. Byres with staff facilities and storage at second Road is occupied by a mix of local floor. Company (UK) Ltd with an and national retailers. unexpired lease term of 8.00 The provides the following areas, with an years The property is located on the west ITZA of 995 sq ft. side of Byres Road, close to the • Offers in excess of junction of food and beverage Area NIA Sq Ft NIA Sq M £1,200,000 destination Ashton Lane and well positioned to capture footfall from Ground floor 1,485 137.96 • Attractive net initial yield of the adjacent Hillhead subway First floor 1,066 99.03 6.25% station. Nearby occupiers include Iceland, Oliver Bonas and Pret a Second floor 645 59.92 Manger. Total 3,196 296.92 For more information, please contact: Graeme S Brown Stuart Spalding Carolyn McEwan Sutherland Brown - Director Cushman & Wakefield - Partner Cushman & Wakefield - Senior Surveyor Direct: 0141 225 0877 Direct: +44 (0) 141 304 3243 Direct: +44 (0) 141 304 3258 Mobile: 07710 429 404 Mobile: +44 (0) 7717 178 284 Mobile: +44 (0) 7712 390 872 [email protected] [email protected] [email protected] FOR SALE Starbucks, 252/254 Byres Road Glasgow, G12 8SH Tenancy The property is let in its entirety to Starbucks Coffee Company (UK) Limited on a Full Repairing and Insuring lease until 22 June 2025 following the original lease being extended by 5 years in 2015 to facilitate a refit of the premises. The current rent is £79,000 pa, reflecting a Zone A of £79.39 per sq. ft. Tenant Covenant Starbucks is an American coffeehouse with over 890 stores throughout the UK. Starbucks Coffee Company (UK) Limited reported turnover of £379 million for the year to 2 October 2016 with a profit after tax of £6,663,484. Tenure Heritable interest (Scottish equivalent of English freehold). EPC EPCs available on request VAT The property is elected for VAT however, it is anticipated that the transaction will qualify as a Transfer of a Going Concern (TOGC). Proposal We are instructed to seek offers in excess of £1,200,000 (One Million, Two Hundred Thousand Pounds Sterling) subject to contract and exclusive of VAT for the Heritable Interest in the subject property. A purchase at this level would reflect a Net Initial Yield of 6.25% after standard purchaser’s costs based on Land and Buildings Transaction Tax (LBTT). For more information, please contact: Stuart Spalding Graeme S Brown Cushman & Wakefield - Partner Sutherland Brown - Director Direct: +44 (0) 141 304 3243 Direct: 0141 225 0877 Mobile: +44 (0) 7717 178 284 Mobile: 07710 429 404 [email protected] [email protected] Carolyn McEwan Cushman & Wakefield - Senior Surveyor Direct: +44 (0) 141 304 3258 sutherlandbrown.co.uk Mobile: +44 (0) 7712 390 872 cushmanwakefield.com [email protected] MISREPRESENTATION ACT: Cushman & Wakefield gives notice that: These particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute any part of an offer or contract. Details are given without any responsibility, and any intending purchasers, lessees or third parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Cushman & Wakefield as any authority to make any representation or warranty whatever in relation to this property. Purchase prices, rents or other prices quoted are correct at the date of publication and, unless otherwise stated, exclusive of VAT. Intending purchasers and lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction relating to this property. Date of publication May 2017..
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