Bar/Nightclub
A substantial brick built, detached, three storey property located close to the town centre and having sea views. It has been recently refurbished internally and externally.
Trading as a social club and let on a new 15 year lease with no breaks at a rent of £25,000 per annum. There is also a £500 p.a. fixed annual increase in rent. The tenant has been trading there for just over one year.
The property may also suit redevelopment into flats or student accommodation subject to planning permission.
• Prominent position in residential area.
• Ground floor bar (95).
• First floor concert room (200).
• Stewards three bedroom accommodation.
ACCOMMODATION
The accommodation to the ground floor is an entrance porch through to reception foyer with ladies and gents WC’s off. Bar area L-Shaped with 2 large screen TV’s, pool area, darts throw area and bar servery with seating for approximately 95 people. Rear lounge L-shaped with seating for approximately 60 people. Rear hallway, large cellar and rear offices. To the first floor lies landing, ladies and gents WC’s and concert room with seating for approximately 200 people, large bar servery, artists changing rooms and committee room. Second floor landing. Stewards Accommodation comprising kitchen, bathroom/wc with hand basin, 3 double bedrooms and large living room. Externally there is a small enclosed yard.
A superb investment offering a ready made return of 12% which will rise to 16% over the course of the lease.
Freehold. Subject to tenancy.
