• 4th Largest City in the UK

• Glasgow 1st for total retail spend available (PROMIS)

• Prime prominent corner position on pedestrianised section of Sauchiehall Street

• Strong micro location for leisure and fast food

• Heritable Interest (Scottish equivalent of English Freehold)

• £175,000 per annum to one of the UK’s largest Burger King Franchisees, with two guarantors

• 13.5 years unexpired

• £2,990,000, subject to contract

• 5.50% Net Initial Yield

The subject property is situated in a prime and prominent location on the pedestrianised section of Sauchiehall Street. Sauchiehall Street forms part of the famous ‘Golden Z’ with Buchanan Street and Argyle Street as the main shopping streets in the city. High footfall is generated on Sauchiehall Street being central to the retail and leisure district, the office and CBD core, and forming an entry point into the city particularly by students and those who live in the western and north western suburbs of Glasgow.

Major occupiers on Sauchiehall Street include; Marks & Spencer, Primark, Cineworld, Sainsbury’s and in close proximity to the subject property include; Specsavers, Three, Dr Marten’s, Pret A Manger, Schuh and KFC.

Whilst historically retail centric, Sauchiehall Street has become a key leisure location in Glasgow. The Cineworld is one of the busiest cinemas in the UK and can hold 4,300 customers in its 18 screens. The Glasgow Royal Concert Hall Theatre forms a centre piece to the eastern end of the street. In addition the area has attracted a high number of bars and nightclubs targeting the student market, making the micro location a prime pitch for fast-food operators. Burger King is open until 11pm every night to benefit from the constant bustle the area generates.

Works are nearing completion on the Sauchiehall Street Avenue project, a £7.2m landscaping and public realm project providing widened pavements and cycle lanes between Charing Cross and Rose Street. The work includes making the thoroughfare tree lined to create an improved shopping environment and to provide social/environmental and economic benefits to the area.

The former BHS building directly opposite the subject property has now had plans submitted for a £75m redevelopment. Proposals include a 12 storey scheme comprising ground floor retail and 130,000 sq ft of Grade A office space. This development will enhance the micro location

The commercial element of the property has been measured in accordance with the RICS Property Measurement, 2nd Edition (2018) and has the following Net Internal Floor areas:

A set of floor plans is available to download and the measured survey report will be re-addressed to a purchaser at a cost of £995 excl Vat.

Heritable Interest (Scottish equivalent of English Freehold).

Caspian Food Retailers Limited (Company number 07523162) was incorporated in 2011 and forms part of one of the largest Burger King Franchisees with over 70 restaurants in the UK. The lease is guaranteed by both Caspian UK Group and Royale Holdco Limited. Caspian UK Group were purchased by international private equity group Bridgepoint in November 2017.

Caspian Food Retailers Ltd posted a pre-tax loss in their most recent accounts of £3.18m which was due to £4.57m of ‘exceptional charges’ following the acquisition.

The most recently available financial information for both Caspian Food Retailers Limited and Caspian UK Group are set out below:

We are instructed to seek offers in excess of £2,990,000 (Two Million, Nine Hundred and Ninety Thousand Pounds), subject to contract & exclusive of VAT. A purchase at this price would equate to a net initial yield of 5.50% (reflecting purchaser’s costs of 6.35%).

Please note that a purchaser will be re-charged the costs of the surveys and searches which are provided in the data room.

1. The property is located in the 4th Largest City in the UK;

2. Glasgow 1st for total retail spend available (PROMIS);

3. The property occupies a prime prominent corner position on the pedestrianised section of Sauchiehall Street;

4. Strong micro location for leisure and fast food;

5. Heritable Interest (Scottish equivalent of English Freehold)

6. A passing rent of £175,000 per annum to one of the UK’s largest Burger King Franchisees, with two guarantors;

7. 13.5 years unexpired lease term;