Mon, 29 Jan 2018 | COMMERCIAL PROPERTY
The former home of the Dunnes Store in Glasgow city centre is being put up for sale by its Irish owners.
Dunnes Stores' Glasgow site closed back in October 2017 and the high profile Art Deco building is now being sold along with its class 1 retail consent. However, the property consultancy selling the building, CBRE, said there is scope for substantial redevelopment of the site to create a hotel, student accommodation, offices or even private apartments.
The building takes a prominent corner plot on Sauchiehall Street, making it ideal for commercial property investors looking to buy a building that is situated in a busy shopping thoroughfare.
CBRE's Euan McGonigle, a director in its retail department, said: “With ample flexible space and its striking Art Deco frontage, the former Dunnes Store offers enormous scope for redevelopment which we're confident will appeal to a wide range of buyers.”
The building itself is currently set up with open plan space for retail purposed on its ground, first and second floors. The upper floors are also open plan but were previously used as staff spaces and for storage. The entire property measures some 46,500 square feet.
“It's rare that units of this nature become available, particularly in such a prominent location, and we're expecting high levels of interest from investors and developers," added McGonigle.
A family run business in its third generation, supplying office furniture nationwide either directly or through white label websites on behalf of other retailers. Having built up an excellent reputation for the product range and service provided, the...
LEASEHOLD
Indicative offers are required by noon of Tuesday 22 September 2020, with a sale concluded by no later than the close of business on Friday 25 September 2020 and therefore only parties that are able to work within this time frame should respond.
Presenting to the market a well established 2 surgery practice due to the vendors plans to reduce responsibilities. Income is derived from fee per item patients and a large capitation scheme which equates to 32% of the practice income.
LEASEHOLD
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