Commercial building with 21 apartment planning

This 15,500 sq ft building comprises the first, second, and third floors, featuring planning permission in place for 21 serviced apartments with an elevator in situ. The property benefits from an estimated rental value of £250,000 per annum. Planning was granted in November 2025 for conversion to 21 short-term serviced apartments, subject to conditions and a Section 75 notice under planning reference 24/02373/LBA. Representing a prime investment property in an excellent trading position, this forms a perfect addition to any portfolio. The property benefits from access and egress from Sauchiehall Lane to the rear. There has previously been an approach from an aparthotel operator. The development comprises a substantial four-storey commercial building surmounted by a flat roof. An outline of the proposal from a Glasgow-based aparthotel operator suggests a unit mix of 9 studios, 9 one-bedroom apartments, and 3 two-bedroom apartments (totaling 24 bedrooms), strategically weighted toward larger units to address short-term licensing supply imbalances and capture higher-value leisure, family, and extended-stay corporate demand. Under the central target case, the scheme is projected to deliver approximately £271k EBITDA at 83% occupancy, while a 25-year IRI lease option is available at £220,000 per annum. The property is situated on the south side of Sauchiehall Street close to its junction with Hope Street in Glasgow City Centre. Glasgow is Scotland’s largest city and principal commercial centre, located in west-central Scotland on the banks of the River Clyde, approximately 40 miles west of Edinburgh. With a city population of around 650,000 and a Greater Glasgow urban area exceeding one million residents, the city serves as the economic, cultural, and retail hub for the West of Scotland and Central Belt. The location benefits from excellent transport connectivity, being served by Glasgow Airport, Glasgow Prestwick Airport, frequent rail services from Glasgow Central and Queen Street stations, the M8 motorway, local bus networks, and the Glasgow Subway.