5th April 2016
Former Leicester nightclub to go under the hammer
5th April 2016 – Graham Penny Auctions, the most successful property auction house in Leicester, has a familiar building going under the hammer in its auction next week – the former Epsilon nightclub on Churchgate.
The Epsilon Nightclub at 63-65 Churchgate in Leicester has a *guide price of £425,000-£475,000 and is set to go under the hammer in the auction on Tuesday 12th April at the King Power Stadium along with 17 other lots.
The large commercial property is currently a well-equipped nightclub which has been finished to a very high standard throughout and is being sold with all fixtures and fittings and therefore ready to trade straight away. Alternatively, the property has planning permission for its redevelopment into 14 apartments, two retail shop units and gardens.
Carl Finch, branch manager at Graham Penny Auctions, commented: “This is a great investment opportunity – whether it’s to reopen the property as a nightclub or to utilise the planning consent and develop it into city centre accommodation.”
The ground floor comprises an entrance lobby with pay desk and large cloakroom, the main club area with equipped bar and till system, a DJ booth and podiums, large dance floor, VIP area to the rear and large luxury gents, ladies and disabled toilets. To the first floor is a further bar and VIP area with balcony/mezzanine area. To the second floor are two offices which house the CCTV and security system.
The planning permission is for 14 apartments comprising a block of six one-bedroomed apartments in the main building to the front and the erection of a new block of eight large two-bedroomed apartments to the rear, along with two ground floor retails units and central communal landscaped gardens.
Carl added: “The attraction of buying at auction is that it’s a straightforward, transparent and quick process. On the fall of the hammer, the sale is secure, contracts are exchanged and the sale is completed within a month.”
The legal pack for the Epsilon Nightclub, 63-65 Churchgate, Leicester, LE1 3AN is available online for potential buyers to download for free from the Graham Penny Auctions website. Any requests for proxy, telephone or internet bids should be made with Graham Penny Auctions on 0116 254 9654.
*Each property is subject to a Reserve Price which may be different from the Guide Price. For full definitions click here