Outstanding Restaurant & Bar Opportunity within iconic building in Glasgow City Centre

Prime Restaurant & Bar Opportunity
The Teacher Building, 14 St Enoch Square, Glasgow, G1 4DB

• Class 3 (Sui Generis) Licensed restaurant & Bar Opportunity 
• Occupying a prime trading location in central Glasgow
• Located on St Enoch Square, adjacent to Buchanan St & Argyle St
• Central to new Glasgow city centre masterplan 
• Ground floor & basement of the Iconic Teacher Building 
• 3,605 sq. ft over ground floor and basement
• 1,173 sq. ft Basement & 2,532 sq. ft Ground Floor 
• 101 proposed restaurant covers & 110 Bar capacity
• Over 1000 new hotel rooms in very close proximity
• Upper floors now occupied by Sonder Inc (self catering 
apartments) 
• Shell/partly fitted interior awaiting full tenant kitchen and front of 
house specification
• Tenant incentives may be available subject to covenant
• Awaiting rateable value assessment

GUIDE RENT £75,000 per annum

LOCATION
The subjects occupy a prime location in St Enoch Square in the very heart of Glasgow city centre. 
Glasgow is a bustling city with a compact and easy to navigate city centre. In terms of population Glasgow is the largest city in Scotland with a population of 635,000. The Greater Glasgow area is one of the most populous urban areas in the UK with a population approaching 1.7m. This population concentration makes Glasgow city centre a very busy retail, commercial and financial centre serving the centre and west of Scotland as well as beyond. 

The subjects are located on St Enoch Square at the southern end of Buchanan Street. Buchanan Street is often referred to as Scotland’s premier shopping mile, home to designer stores, upmarket shopping centres as well as Frasers department store. At St Enoch Square, Buchanan Street intersects with Argyle Street, another very busy retail street heading east to west through the city centre.

Glasgow is currently undergoing significant and exciting city centre redevelopment in the next few years, this will be centred around the immediate area of the subjects. In the last few years the immediate area around the subjects have undergone significant transformation with more than 1000 hotel rooms. 
The subjects are also close to the Clyde and Broomielaw area as well as Glasgow’s financial centre which is home to large financial institutions. 

Glasgow is well served with excellent transportation links: the city centre has two major railway stations (Queen Street & nearby Glasgow Central). In addition, the city also has an Underground system with St Enoch Square underground station located a few steps from the subjects.

THE PROPERTY
The Teacher building is one of the most iconic and historic original buildings in Glasgow city centre. Built in 1875 in the Italian Renaissance style, the property was built for William Teacher and Sons as the headquarter and dram shop of their whisky business.

Our clients purchased the whole property a few years and have begun a sympathetic restoration of the building. The uppers floors are currently let to upscale self catering apartment operator Sonder Inc. Sonder Inc operate 25 apartments above the bar/restaurant space.

The property is B listed with subjects operating from a basement & ground floor levels.

INTERNAL DETAILS
The front door Main entry to the subjects is at the front on the property leading into a large open plan shell unit.
Accommodation is over ground floor and basement level. 
Ground floor is consented for 101 covers with a further bar capacity of 110. The basement will be utilised for kitchen, staff as well as services areas to include toilets. The subjects are offered in shell condition awaiting tenant specific fit out.

LICENCE
The subjects have a premises licence and class 3 Sui Generis use.

SERVICES
We are advised all main services are connected.

EXTERIOR
The subjects also have permission for outdoor tables and chairs

THE OPPORTUNITY
The availability of the subjects represents a superb opportunity for a highly motivated and experienced operator to take over a prominent and well-appointed site in of the most sought after trading locations in Glasgow. The site will appeal to a multitude of licensed and leisure operators as it offers a real blank canvas for a wide variety of trading styles.

TENURE
The landlords will offer a new FRI lease. Tenant incentives may be available subject to covenant. Initial rent will be £75,000 per annum.

RATES
The rateable value has yet to be assessed