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Fully fitted nightclub.
Situated within highly successful Merchant Square licensed development.
Arranged over the basement with own access direct from Albion Street.
Large capacity estimated at 750 persons.
Suitable for gym or other alternative use, subject to consent.
Floor area of 8,919 sq.ft. (829 sq.m.).
Nil Premium. Rental Offers Over £50,000 per annum.
TUXEDO NIGHTCLUB
69 Albion Street | 1 Merchant Square | Glasgow | G1 1LH
FOR LEASE
0141 331 0650avisonyoung.co.uk
0141 300 8000
LocationMerchant Square is a historic building which forms part of Glasgow’s Old
Fruit Market and lies in the heart of the Merchant City. The square now
provides a destination venue for eating, drinking and entertainment.
There are a number of highly successful businesses situated within the
square including Metropolitan, Bar Soba, Steak, Rattle and Roll, Boudoir,
Fanelli’s, The Beer Café and O’Neills Public House. Escape entertainment
venue and Distrikt Nightclub are arranged over the basement.
Significant new development has taken place in the immediate vicinity
including the £90 million Strathclyde University Technology and
Innovation Headquarters, as well as a new student village, hotel, offices
and retail developments in the former Selfridges site (planning
permission is in place).
Specifically, Tuxedo is arranged over the part basement of the Merchant
Square development. The premises benefit from a separate external
access direct from Albion Street, which leads to a ground floor lobby and,
thereafter, a wide staircase to the main trading areas.
DescriptionThe premises previously traded as El Barrio and were acquired by the
current tenant in April 2017. The tenant then undertook a substantial
refurbishment of the premises, estimated in the region of £250,000.
The subjects, therefore, have benefitted from a significant recent
refurbishment, which has now completely transformed the access,
staircase, customer toilets and main club area. A second club area can
also be integrated with minimal further refurbishment. Unfortunately,
the tenant did not meet market demands, albeit the fit-out will greatly
benefit a new incoming tenant.
St EnochShopping Centre
Buchanan GalleriesShopping Centre
GLASGOWCENTRAL
GLASGOWQUEEN ST. Strathclyde
UniversityBusinessDistrict
FinancialDistrict UU
AccommodationWe estimate the premises have a total gross internal area of 829 sq. m.
(8,919 sq. ft.).
Specifically, the accommodation is as follows:
Dedicated access direct from Albion Street, immediately
adjacent to one of the primary accesses to the Merchant
Square development. There is a ground floor lobby and,
thereafter, an attractively decorated staircase leading
to the main trading areas over the basement.
There is a customer corridor which leads into the main
club areas. Situated off the customer corridor are ladies
and gents customer toilets, a pay-in booth/cloakroom,
stores and a manager’s office.
Customer
Corridor
Club Room 1 has been completely refurbished. The club
includes a general open plan area with fixed booth
seating to either side. There is a DJ’s booth and bar
servery. In addition, there is a wash room and stores
situated to the rear. This area includes two dedicated
and well decorated VIP rooms situated off the main club
area. We understand that the total capacity is for
approximately 350 persons.
Club Room 2 is situated immediately adjacent to and
can be interconnected with Club Room 1. We estimate
that this will provide a further capacity in the region of
400 persons. With minimum refurbishment, this area
can be interconnected to provide a large club/
entertainment venue.
Club Room
2
Club Room
1
Access
GROUND FLOOR
BASEMENT
LicenceThere is a premises licence in place. The operating hours are to 3am seven
nights per week. The premises licence will be transferred to a new tenant.
ServicesWe understand that the premises are connected to all mains services
including water, electricity and drainage.
RatesThe rateable value of the restaurant is:
A new occupier will have the right to appeal the rateable value.
The OpportunityTuxedo was acquired by the current tenant around April 2017, at which
time a significant refurbishment in the region of £250,000 was
undertaken. Unfortunately, however, notwithstanding the significant
investment, the nightclub did not meet market demands.
Nonetheless, at the asking rental at £50,000 p.a. (£5.50 per sq. ft.) and
with the correct concept and market offering, we have no doubt that the
premises are capable of generating a substantial turnover and profit.
The main club room is in a virtually walk-in condition benefitting from
first class finishes and decorations throughout. In addition, Club Room
2 can be interconnected at a minimal additional refurbishment cost.
Property Current RateableValue
Description
Tuxedo Nightclub £75,000
In our opinion, the premises are ideal as an entertainment venue or a
specialised nightclub targeting jazz, goth or other specialised sectors. In
addition, the premises may be suitable for other leisure uses, such as a
gym, snooker/pool hall or casino (subject to necessary consents).
TermsThe premises are available on a new lease. Rental offers over £50,000
per annum are invited. A long term lease is availble on standard
commercial terms.
A rental deposit may be required from an incoming tenant, depending
on the tenant covenant strengths.
Premium OffersNIL PREMIUM.
EPCThe premises have an EPC rating of G.
CDLH and for the Vendors of this property, whose agents they are, give notice that (i) the particulars are set out as a general outline only for guidance of intending operators and constitute that neither thewhole or part of any offer or contract; (ii) all descriptions, dimensions, or references to condition and necessary permission for use and occupation of the hotel are given in good faith and are believed to becorrect, but any intending purchaser should not rely on them as statements or representations of fact but should satisfy themselves by searches, enquiries, surveys and inspections or otherwise as to thecorrectness of each of them; (iii) no person in the employment of CDLH has the authority to give any representation or warranty whatsoever in relation to this property (iv) any trading or financial informationis for indicative purposes only, prepared at the time of publication and should not be relied upon and cannot be warranted in any way.
Contains Ordnance Survey data © Crown copyright and database right 2019
Additional Information & ContactFor any additional information, please do not hesitate to contact the following:
Peter E Darroch
CDLH
T: 0141 331 0650
M: 07901 001 311
Kevin Hunter
CDLH
T: 0141 331 0650
M: 07824 395288
Pete Harding
Avison Young
T: 0141 300 8000
M: 07920 812029
Alice Elder
Avison Young
T: 0141 300 8000
M: 07962 342826
0141 331 0650avisonyoung.co.uk
0141 300 8000
