Luminar Leisure 35-45 King Street Wigan Greater Manchester WN1 1BS

Luminar Leisure
35-45 King Street
Wigan
Greater Manchester
WN1 1BS

Freehold Public House Investment

Let to Black Cat Bars (Wigan) Ltd until 2030 (no breaks)
Located in Wigan’s leisure district
Nearby occupiers include Revolution Bar, Reflex Nightclub, The Hub Nightclub and Bentleys Bar
Approximate floor area of 2,128.59 sq m (22,912 sq ft)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
121
Auction
13th October 2016
Rent
£55,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On behalf of a Major Fund Manager

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Freehold Public House Investment

Let to Black Cat Bars (Wigan) Ltd until 2030 (no breaks)
Located in Wigan’s leisure district
Nearby occupiers include Revolution Bar, Reflex Nightclub, The Hub Nightclub and Bentleys Bar
Approximate floor area of 2,128.59 sq m (22,912 sq ft)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 121
Auction 13th October 2016
Rent £55,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Public House
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On behalf of a Major Fund Manager

Property Information

Location

Miles: 18 miles north-west of Manchester, 20 miles north-east of Liverpool
Roads: A49, A577, M58 (junction 26)
Rail: Wigan Wallgate
Air: Liverpool John Lennon Airport, Manchester Airport

Situation

The property is situated in the leisure district of Wigan town centre, just south of the main retailing area on King Street, off the A49. King Street is predominantly occupied by bars, nightclubs and restaurants with occupiers including Revolution Bar, Reflex Nightclub, The Hub Nightclub and Bentleys Bar. The location benefits from good transport links, with Wigan Wallgate Railway Station just a 2 minute walk away, and two car parks located to the rear of the property accessed from the A49.

Tenure

Freehold.

Location

Miles: 18 miles north-west of Manchester, 20 miles north-east of Liverpool
Roads: A49, A577, M58 (junction 26)
Rail: Wigan Wallgate
Air: Liverpool John Lennon Airport, Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises a three storey public house currently trading as two units. Mortimer’s Bar comprises a ground floor only unit, whilst Jaks is arranged over part ground, first and second.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a three storey public house currently trading as two units. Mortimer’s Bar comprises a ground floor only unit, whilst Jaks is arranged over part ground, first and second.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit No.	Floor	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reviews
Mortimer’s Bar Jaks Bar	Ground Part Ground, First & Second	984.95 sq m 1,143.63 sq m	(10,602 sq ft) (12,310 sq ft)	BLACK CAT BARS (WIGAN) LTD (with personal guarantee)	15 years from 28/04/2015 until 27/04/2030 on a full repairing and insuring lease	£55,000 (1)	28/04/2020 and 28/04/2025
Total		2,128.59 sq m	(22,912 sq ft)			£55,000

(1) For the purposes of clarification, Black Cat Bars (Wigan) Ltd is currently paying £30,000 p.a.x. rising to £55,000 p.a.x. on 27th April 2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £55,000 p.a.x. from completion of the sale.