Argyle Street, Glasgow, G3

Located In Finnieston
Held In F.R.I Lease
Large Restaurant
Passing Rent £40,000p.a
Expiry: February 2036
Rent Review: 2026 & 2031
Price: £525,000

Location

The property is situated on the south side of Argyle Street close to its junction with Hastie Street in the Finnieston area of Glasgow.

The subjects benefit from high levels of passing traffic, with Argyle Street being one of the main thoroughfares linking the City Centre with the West End of Glasgow. The Kelvinhall Underground Station is only a short walk away.

In recent years, Finnieston has become arguably the most desirable eating and drinking circuit in Glasgow with many new stylish bar and restaurant openings. Nearby operators include Brewdog, Mother India, Elena's, Ox & Finch, Porter & Rye, Six by Nico, Crabshakk and the Finnieston.
The subjects themselves enjoy one of the best outlooks in Glasgow overlooking the spectacular Art Galleries which also acts as a great generator of trade. The subjects also benefit from their close proximity to the Kelvinhall International Sports Arena and the Hunterian Museum.  The business benefits further from the extensive development of the former Western Infirmary site by Glasgow University, creating a number of state of the art University buildings and facilities, which brings high levels of student and lecturers to its doorstep.

The subjects benefit greatly from their close proximity to the Scottish Exhibition & Conference Centre (SECC) and the Hydro concert venue, both of which are only a short walk away, and regularly play host to the biggest concerts and live shows.  The Hydro has been ranked as the second busiest live entertainment arena in the World.  

Finnieston is a densely populated residential area, as well as a being a busy commercial area with a number of businesses and substantial office developments in the surrounding area, including the Skypark and the new Scottish Power HQ.  There are also a number of substantial new residential developments planned in the area which will further benefit the surrounding businesses.

Property

The subjects comprise part ground floor, within a retail parade, of a traditional 4-storey sandstone tenement property under a pitched roof. The subjects also benefit from a single storey extension to the rear under a flat roof.

The subjects are entered via a doorway to the left-hand side of the large display frontage with prominent backlit signage above. Internally, the premises which were refurbished only last year have been designed and fitted to a high standard with high quality finishings throughout, to create this stylish and contemporary venue, whilst retaining original features such as high ceilings and exposed stone and brickwork.
A large well-equipped bar/servery runs down the full left-hand side of the unit leading into an open plan 'theatre' kitchen to the rear with the focal point being a large feature pizza oven.
The restaurant is set up to accommodate a comfortable 50 covers by way of comfy booths in the windows, banquet seating and loose tables and chairs.
The dining area benefits from one of the most spectacular outlooks in the whole of Glasgow, with uninterrupted views of the Kelvingrove Museum & Art Galleries which is possibly even more spectacular when lit up at night.

Lease Summary

The property is held on a full repairing and insuring head lease on the following terms;

Tenant: MVR Leisure Ltd t/a FARINA
Passing Rent: £40,000p.a
Rent Review: 16th June 2026 & 16th February 2031
Lease Expiry: 15th February 2036
Deposit: A £20,000 deposit is held by the landlord

Sale

The property is available on a freehold basis for £525,000

V.A.T

Figures quoted exclusive of V.A.T

Viewing

Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business