Tenanted Commercial
24 St Enoch Square, Full Third Floor, Glasgow City Centre G1 2DG
No guide
23 May 2025
GUIDE PRICE
AUCTION DATE
FULL FLOOR with 7 Private offices, Large Conference Room, Spacious Co-working area, Kitchen, Male and Female toilets. 100% SECURE INCOME. FRI LEASE UNTIL 2044 with annual rental of £27,900. City Centre Office. Neighbouring occupiers Greggs, Caffe Nero, Boots, Tesco. Office overlooking the St Enoch Shopping Centre and St Enoch Underground Train Station. FRI lease for 20 years. Potential for future development in HIGH DEMAND LOCATION within city centre. Opposite St Enoch Centre with Occupiers Including a Number of Restaurant Operators and VUE Cinema. Similar spaces in the area have successfully been converted into residential properties. 4 x 500 Sq.Ft flats would potentially yield £900,000- £1,000,000 (subject to planning) in SUPER LOCATION. The property is located on St Enoch Square opposite the St Enoch Centre and adjacent to Argyle Street and close to the southern end of Buchanan Street. St Enoch Square benefits from leisure and restaurant occupiers and a 9 screen cinema. Nearby occupiers include Greggs, Caffe Nero, Boots, Tesco and local traders. Substantial office space overlooking St Enoch Square with magnificent views of central Glasgow. Let on FRI lease for 20 years. Opposite St Enoch Centre with Occupiers Including a Number of Restaurant Operators and VUE Cinema. Development Opportunities: There is the possibility of a title split (subject to planning) that would allow for the formation of 8 offices in the current configuration or up to 12 offices with re-configuration. Individually selling these offices could achieve around £50k per office, with a total development value of up to £600,000. It's also worth noting that converting the space into flats, as has been successfully done with other offices in the area (subject to planning), can yield a GDV of approximately £900,000 to £1,000,000 million X four 500 Sq.Ft residential flats. • Available Immediately • Recently Refurbished in May 2023 • Elevator Access • Fully Furnished with Office Furniture (can be emptied if required) • Secondary Glazing for enhanced noise reduction and insulation • 7 Private Offices • 1 Large Conference Room • 1 Spacious Co-working Area • 1 Communal Kitchen Area • Separate Ladies & Gents Toilet Facilities (5 toilets in total) • Secure Door Entry System for added security • Fibre Broadband Ready with CAT 5 cabling throughout • Fire Alarms/Extinguishers for safety compliance • Air Conditioning for optimal comfort • Fully equipped with low-energy LED Lighting Alternatively, with a strategic business approach, the potential rental income can soar to £70,000+ (PA) when rented on a per-room basis, creating a thriving business centre. This estimate does not include the additional revenue generated from meeting and training room rentals. Room-by-room rentals can command £750 - £900 PCM per room, with meeting room hire priced at £200 per day. SUPER LOCATION close to Buchanan Street facing St Enoch Underground and St Enoch Shopping Centre. World Renowned Glasgow City Centre Within the Glasgow International Financial Services District. The property occupies an excellent position, being close to Glasgow Central Station and directly adjacent to St Enoch Subway station, whilst regular bus services pass along numerous adjacent streets including Argyle Street and Union Street. Full Address: 24 St Enoch Square, Full Third Floor, Glasgow City Centre, G1 2DG
G1, UK
Guide Price
No guide
Auction Date
23 May 2025
End Time
12:00
Lot
25
Venue
Online
Auctioneer
Future Property Auctions
Future Property Auctions
241 Kilmarnock Road, Glasgow
0345-646-1117
About Future Property Auctions
Future Auctions LTD are the UK & Ireland's premier dedicated land & property auction house. They offer flats, houses, land, residential, commercial property at large scale event and online auctions.