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Glasgow's Merchant Square goes up for sale with £5m price tag

News imageCDLH Leisure & Hospitality Surveyors A large building, lit up at night, with people walking past it CDLH Leisure & Hospitality Surveyors
Merchant Square, which has a cobbled courtyard, has a number of bars and restaurants operating within it

A historic hospitality square in the centre of Glasgow has gone up for sale with a £5m price tag.

Merchant Square currently has a number of bars and restaurants operating within it, as well as a cobbled courtyard. The venue was previously a fruit market.

In recent years, some of the location's best-known tenants have departed, including cocktail bar Metropolitan, which closed in 2024 after 22 years, and popular bar the Beer Cafe.

However, CDLH Leisure & Hospitality Surveyors said the site - which currently has 11 of 12 units in use - would offer "a superb return with clear growth potential".

The surveyors said the courtyard, which can host events, could be altered, with a new lease created "to gain additional rental". Better use of the central square would therefore help increase revenue, they added.

Merchant Square was described by the surveyors as already delivering "strong performance" while being a well-loved part of the city's leisure and nightlife scene.

Tenants at the location currently include party venue Vodka Wodka, cocktail bar Table Twenty Eight and NQ64, a bar with a retro video games theme.

The property is held on a long leasehold from Glasgow City Council, lasting from 19 February 1998 until 18 February 2123.

In 2015, Merchant Square and four other bar and restaurant units on nearby Candleriggs were sold by Merchant City Properties to Clydebuilt Fund - owned by the Glasgow City Council-administered Strathclyde Pension Fund - for a combined £9.5m.