ReGlasgow

COFFEE Shop And Office Plan For Iconic Tower Records Building

2 August, 2024 | Listed / Historic Buildings

PLANS have been submitted to bring Glasgow’s historic former Tower Records building back into use, including turning part of it into a coffee shop.

An application has been made to sub-divide and change the use of the four-storey B-listed premises on Argyle Street, beside the Hielanman’s Umbrella railway bridge.

The ground floor and basement would be used as a coffee shop, with office use on the three upper floors. Shopfront alterations would also take place.

No further details about the coffee shop are given and further planning applications will be made in relation to it.

The Venetian-style building was designed in 1863 and was originally a warehouse. It has been vacant since Tower Records closed 17 years ago.

A design statement included with the application explains: “These proposals represent a rare opportunity to bring life and activity to the entire building, preserving its status and viability for years to come.

“The coffee shop will help to energise the area, adding to pedestrian footfall, and the upper floor offices will add further activity to support local businesses.”

Evolve Finance are a Glasgow-based commercial finance brokerage serving the UK, specialising in all types of property finance for Property Developers, Landlords and Investors and offering innovative finance solutions, they welcome complex cases and back their experience to add value to any project.

Here’s just some development products that may be of interest.

Residential development funding Scotland: For projects from £750,000 to circa £50,000,000, this facility is typically for the purchase and ground up development costs of new build residential projects, large residential refurbishment projects or commercial projects with the loan repayment coming from the sale proceeds or re-financing to a term loan.

Bridging loans for property development Scotland: This facility is typically used for projects ranging from £50,000 to £3,000,000, covering purchase and development costs of anything from one-bedroom flats to large commercial-to-residential conversions, as well as smaller new build developments like a single detached house or gap site projects of 6–12 flats.

Build to Let Development Finance: Build to Rent projects also known as Build to Let are gaining traction, with this facility funding projects from £750,000 to £50,000,000, typically for large-scale refurbishments and new build residential flats. The development finance transitions to a long-term commercial mortgage upon completion.

Below market value property funding: Below Market Value Bridging Loans allow you to borrow up to 100% of the purchase price when the property’s purchase price is lower than its open market value, helping you maximise leverage opportunities and make the most of discounted property deals.

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