A landmark food and drink location in city centre that has hosted events and markets is on the investment market with a price tag of £5 million.
Merchant Square is at the centre of the Merchant City area and includes 11 licensed units extending to 683,62 sq ft, with one additional unit which is currently unlet. Current tenants include Mitchells & Butler, Momo Hub, Vodka Wodka, Sono, Table Twenty Eight, The Tap Yard, Delictoria, Bar Soba, Nomad Escape, NQ64, and Lochy’s.
Merchant Square includes a undercover 7,610 sq ft cobbled courtyard, which is used to host events and art markets.
CDLH Surveyors state: “Merchant Square is situated adjacent to the Candleriggs Quarter – one of the largest city centre development sites, outside of London. Sitting at the heart of the Merchant City, Merchant Square is moments from George Square, Queen Street and Central Stations, Strathclyde University, and the city’s core retail and commercial areas.
“It is also a famous entertainment destination in its own right, having hosted Glasgow’s Hogmanay Party, The Merchant City Festival, live sport, a weekly makers’ market and much, much more.”
The listing for the property states that the total current net rental is £606,583 per annum, “after payment of ground rental and deduction for unallocated service charge”. The surveyors estimate a circa 6% increase over the next 5 years.
The property is held on a leasehold from Glasgow City Council that’s not due to expire until February 2123.
1. Merchant Square
New arrivals at Merchant Square have included Sano Pizza, while Metropolitan Bar closed in 2024 after 22 years and other exits have included the Beer Cafe and Bar Soba. | CDLH
2. Merchant Square
The opportunity is described as: "Licensed & leisure investment providing a superb return with clear growth potential through RPI linked rent reviews and better utilisation of the central square." | CDLH
3. Merchant Square
The current tenants include a mix of bars, restaurants and other hospitality options in the city centre including O'Neill's pub and Momo Hub restaurant. | CDLH
4. Merchant Square
Merchant Square was once part of the old Fruitmarket in the Merchant City dating back to the 1750s. | CDLH