West Regent Street, City Centre, Glasgow, G2 - Image 1

West Regent Street, City Centre, Glasgow, G2 - Image 2

West Regent Street, City Centre, Glasgow, G2

Scotland

£2,200,000

Listed on 22/09/2021

Property Details

Bedrooms

N/A

Type

Serviced Apartments

Description

This substantial 33,553 sq ft property presents a significant development opportunity in Glasgow. With planning permission already secured for a serviced apartment scheme, potential investors can develop 96 studio and one-bedroom short-term rental units, which could generate an estimated annual income of £3 million. Additionally, recent discussions with Glasgow City Council indicate a positive outlook for converting the property into student accommodation, further enhancing its investment appeal. This property holds considerable renovation potential for those looking to capitalize on the thriving rental market in the area.

Investment Analysis

(G2 area)

Area Average

£251/sq ft

Avg Rent (weekly)

£288

Avg Yield

9.6%

Renovation Potential

Medium Refurb

Est. Renovation Cost

£4,000,000 - £6,000,000

Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.

Monthly Sales

Average per month

Market Turnover

42%

Properties sold annually

Local Market Trend (G2)

Area prices are rising by +10.9% over the last 12 months

3 year growth: +11.8%

5 year growth: +11.5%

Investment Disclaimer: Analysis based on G2 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

West Regent Street, City Centre, Glasgow, G2

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Property Price

Household Income

Deposit

Deposit %

Interest Rate

Repayment Period

years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments

£7,792

Based on a loan of £1,650,000 over 30 years at 3.91% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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