Freehold Nightclub Investment
The Property comprises a three storey end terraced building of brick elevations beneath a pitched slate covered roof.
The are no associated external trading areas.
All viewings must be arranged strictly by appointment with the sole selling agents Savills.
We are instructed to invite offers in excess of £510,000 (8.92% Gross Initial Yield). The business will continue to trade unaffected from the premises during the marketing of the Property and post completion of the sale.
Ground floor main entrance leading to an open plan trading area. Single bar servery and dancefloor with a capacity for 200 patrons. First floor customer toilets and offices. Former two bed flat to the second floor. Beer cellar to the basement.
The Property is held freehold. The entire Property is let on a 10 year lease to Dv8 Bars Ltd commencing 24th May 2017. Current rental of £45,504 per annum, subject to annual RPI linked rental increases and five yearly open market reviews.
It is envisaged that the Property will be sold as a TOGC so the transaction should therefore be exempt from VAT.
Our enquiries of the local authority have revealed that the Property is not listed nor within a Conservation Area.