Freehold City Centre Restaurant/Bar Investment
Freehold City Centre Restaurant/Bar Investment
The property is some 270 metres from the seafront and located on the corner of Ship Street and Duke Street, in the popular and busy Lanes area of central Brighton. This established retail area is made up of local and national traders, with nearby occupiers including Heals, Fat Face and TK Maxx.
Freehold.
The property is some 270 metres from the seafront and located on the corner of Ship Street and Duke Street, in the popular and busy Lanes area of central Brighton. This established retail area is made up of local and national traders, with nearby occupiers including Heals, Fat Face and TK Maxx.
Freehold.
This is a substantial and prominent property which comprises an established restaurant and bar, trading from the ground and lower ground floors, with self-contained office accommodation on the first, second and third floors.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
This is a substantial and prominent property which comprises an established restaurant and bar, trading from the ground and lower ground floors, with self-contained office accommodation on the first, second and third floors.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Lower Ground Ground Floor First Floor Second Floor Third Floor |
WC, Storage Bar, Restaurant and Kitchen Offices Offices Offices |
155.33 sq m 151.52 sq m 68.00 sq m 68.84 sq m 68.65 sq m |
(1,672 sq ft) (1,631 sq ft) (732 sq ft) (741 sq ft) (739 sq ft) |
MITCHELLS & BUTLERS RETAIL LTD (t/a Browns) (1) (2) (3) |
25 years, from 31/05/2010 until 2025 |
£75,000 | 31/0/2015 & 31/05/2020 |
| Totals | 512.34 sq m |
(5,515 sq ft) |
£75,000 | ||||
(1) For the year ending 25th October 2010 Mitchells & Butlers Retail Limited reported a turnover of £1,633,000,000, a pre-tax profit of minus £25,000,000 and a total net worth of £2,803,000,000. (Source: www.riskdisk.com 14/11/2011)
(2) Mitchells & Butlers Retail Ltd are a leading restaurant and pub chain in the UK and trade from approximately 1,600 outlets. Mitchells & Butlers operate some of the UK's most famous restaurant and pub brands, including All Bar One, Toby Carvery, Harvester and O'Neills. (Source: www.mbplc.com 14/11/2011)
(3) The tenant has sub-let the first, second and third floors to Carr Priddle Management Limited who are currently holding over.
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