Retail premises for sale

Lipton House, 154-180 Crown Street, Glasgow G5

Description

The property comprises a substantial stand alone steel framed modern commercial development over 3 stories with 3 retail units at ground floor and library, community hub and offices at ground and upper floors.

Tenancy Summary

Each property Is held on a full repairing and insuring head lease on the following terms;

154/156 Crown Street

Held on lease to a private individual trading as “G5 Deli” occupying approx 2,013sq ft expiring 18th July 2034 at a current passing rent of £28,182per annum with rent reviews every 5 years

158 Crown Street

Let to Prince & Princess of Wales Hospice, occupying 969sq ft on a lease expiring 12th June 2029 at a passing rent of £11,500per annum. There are rent review provisions every 5 years.

160 Crown Street

Let on a personal name trading as “U Save” occupying 786sq ft on a lease expiring 14th October 2035 at a passing rent of £10,000p.a.

180 Crown Street

Let to Glasgow City Council operating as the local community hub and library occupying 7,478sq ft, held on an F.R.I Lease expiring 31st March 2032 with the next rent review falling in 2028.

Location

The property is situated on the west side of Crown Street between its junctions with Errol Street and Old Rutherglen Road in the New Gorbals area of Glasgow.

The locale has seen extensive residential development in recent years with a small number of commercial availability to compliment the residential dwellings. Neighbouring occupiers include u-Save, i-2-i Opticians, Moss Pharmacy and Co-Op.