A HISTORIC building in the heart of Glasgow city centre has been put on the market for over £11 million.
Located at 274 Sauchiehall Street, McLellan Works is at the site of former department store McLellan Galleries, a once integral Glasgow landmark.
The building extends to 44,240 sq ft and has undergone a comprehensive refurbishment and renovation.
It provides retail and leisure space across the basement and ground floor with frontage directly onto Sauchiehall Street, and office accommodation across the upper three floors.
It also benefits from basement car parking and bike storage facilities.
Offers are invited in excess of £11.47m.
Global real estate advisor, CBRE, has been appointed by Bywater to bring McLellan Works to the market.
The property is multi-let to a diverse range of occupiers including CALA Homes (West), Spencer Ogden, Telus Health, Black Sheep Coffee and British Heart Foundation, alongside independent operators such as Sprigg, Hinba and Bee Inspired Clothing.
Andrew Shiells, senior director at CBRE Capital Markets Scotland, said: “McLellan Works represents a rare opportunity to acquire a modernised, design-led building in one of Glasgow’s most dynamic locations. With its strong tenant line-up, excellent sustainability credentials and secure income profile, it offers investors attractive initial returns with potential for future growth in a city that continues to demonstrate robust occupier demand.”
Patrick O’Gorman, CEO of Bywater, said: “McLellan Works represents everything we stand for at Bywater; creative reuse, community impact and future-facing design. Sauchiehall Street is undergoing a remarkable transformation, and we’re proud to have played a role in bringing this iconic building back to life. With its strong tenant mix, low-carbon design and vibrant location, McLellan Works is a standout investment opportunity in one of the UK’s most exciting cities”.
