18 Glassford St - Glasshouse
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18 Glassford St - Glasshouse
101,082 SF Sports & Entertainment Building Offered at $6,255,317 at a 6.61% Cap Rate in Glasgow G1 1UL
Investment Highlights
- Single let leisure investment opportunity
- Let to Grosvenor Casinos (GC) Limited (08306157) with an unexpired term of 15 years
- Evolving micro-location with significant development
Executive Summary
Seeking offers in excess of £5,000,000 (five million pounds) exclusive of VAT for the Heritable Interest which reflects a net initial yield of 6.61% after purchaser's costs based on LBTT. A purchase at this level equates to an attractive capital value rate of £150 psf on the leisure element.
The property is let to Grosvenor Casino's (GC) Ltd (08306157) and guaranteed by Rank Gaming Group Division Limited (03213743). The lease is drawn on full repairing and insuring (FRI) terms and has recently been re-structured for a period of 15 years from 1 June 2023 without break.
The property is let to Grosvenor Casino's (GC) Ltd (08306157) and guaranteed by Rank Gaming Group Division Limited (03213743). The lease is drawn on full repairing and insuring (FRI) terms and has recently been re-structured for a period of 15 years from 1 June 2023 without break.
Property Facts Sale Pending
| Price | $6,255,317 | Building Class | B |
| Price Per SF | $62 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 101,082 SF |
| Cap Rate | 6.61% | No. Stories | 7 |
| Tenure | Freehold | Year Built/Renovated | 1930/2000 |
| Property Type | Sports & Entertainment | Parking Ratio | 15.73/1,000 SF |
| Property Subtype | Casino |
| Price | $6,255,317 |
| Price Per SF | $62 |
| Sale Type | Investment |
| Cap Rate | 6.61% |
| Tenure | Freehold |
| Property Type | Sports & Entertainment |
| Property Subtype | Casino |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 101,082 SF |
| No. Stories | 7 |
| Year Built/Renovated | 1930/2000 |
| Parking Ratio | 15.73/1,000 SF |
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18 Glassford St - Glasshouse
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