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.
The wholesale business has an established trading history and has built up a strong reputation and a loyal customer base. Business is drawn from a wide demographic of clients with a good spread across different business sectors.
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