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George House 50 George Sq

99,740 SF 80% Leased 4-Star Office Building Glasgow G2 1EH $20,501,479 ($206/SF) 11.31% Cap Rate

Investment Highlights

  • Landmark city centre office.
  • Arranged over ground and 5 upper floors, arranged around a central courtyard together with 31 car parking spaces.
  • George House benefits from excellent connectivity with immediate access to Queen Street rail station.

Executive Summary

Offers are sought in excess of £16.50m (Sixteen million, five hundred thousand pounds) for the asset, subject to contract and exclusive of VAT.
A purchase at this level would reflect a net initial yield of 11.31%, based on standard purchaser’s costs of 6.73% and an attractive capital value of £166 per sqft.

Attachments

Brochure

Property Facts

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
99,740 SF
Building Class
B
LoopNet Rating
4 Star
Year Built/Renovated
1979/2012
Price
$20,501,479
Price Per SF
$206
Cap Rate
11.31%
NOI
$2,318,717
Percent Leased
80%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
16,623 SF
Building FAR
0.93
Lot Size
2.46 AC
Parking
27 Spaces (0.27 Spaces per 1,000 SF Leased)

Amenities

  • Courtyard
  • Raised Floor
  • Security System
  • Energy Performance Rating - B
  • Storage Space
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • Ground-Ste B
  • 568 SF
  • Office
  • Full Build-Out
  • Now

The space comprises 568 SQ FT of office space arranged over the ground floor. The space will undergo comprehensive refurbishment with LED Lighting, comfort cooling, raised floors and wc.

  • 1st Fl-Ste North
  • 8,835 SF
  • Office
  • Full Build-Out
  • Now

The space comprises 9,961 SQ FT of office space arranged over the first floor. The space will undergo comprehensive refurbishment with LED Lighting, comfort cooling, raised floors and wc.

  • 1st Fl-Ste South
  • 10,379 SF
  • Office
  • Full Build-Out
  • Now

The space comprises 9,961 SQ FT of office space arranged over the first floor. The space will undergo comprehensive refurbishment with LED Lighting, comfort cooling, raised floors and wc.

Space Size Space Use Condition Available
Ground-Ste B 568 SF Office Full Build-Out Now
1st Fl-Ste North 8,835 SF Office Full Build-Out Now
1st Fl-Ste South 10,379 SF Office Full Build-Out Now

Ground-Ste B

Size
568 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl-Ste North

Size
8,835 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl-Ste South

Size
10,379 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

Ground-Ste B

Size 568 SF
Space Use Office
Condition Full Build-Out
Available Now

The space comprises 568 SQ FT of office space arranged over the ground floor. The space will undergo comprehensive refurbishment with LED Lighting, comfort cooling, raised floors and wc.

1st Fl-Ste North

Size 8,835 SF
Space Use Office
Condition Full Build-Out
Available Now

The space comprises 9,961 SQ FT of office space arranged over the first floor. The space will undergo comprehensive refurbishment with LED Lighting, comfort cooling, raised floors and wc.

1st Fl-Ste South

Size 10,379 SF
Space Use Office
Condition Full Build-Out
Available Now

The space comprises 9,961 SQ FT of office space arranged over the first floor. The space will undergo comprehensive refurbishment with LED Lighting, comfort cooling, raised floors and wc.

  • Listing ID: 31780870

  • Date on Market: 5/13/2024

  • Last Updated:

  • Address: 50 George Sq, Glasgow G2 1EH

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