Freehold Restaurant Investment and Retail Opportunity
Majority Let to Bella Italia Restaurants Ltd until 2023
Active Management Potential
Principle Town Centre Retailing Pitch
Approximately 100m from the world famous Winter Gardens Theatre, Blackpool Tower and Blackpool Pier
Nearby occupiers include Santander, The Orange Shop, Carphone Warehouse and Lloyds TSB
Six Week Completion Period Available
Lot 25
Auction 21st March 2013
Rent £66,600 per Annum Exclusive
Status Sold Prior
Price
Sector Leisure
Auction Venue The Dorchester Hotel Park Lane Entrance Mayfair London W1K 1QA
On behalf of a Major Pension Fund
Property Information
Location
Miles
18 miles west of Preston, 28 miles west of Blackburn, 56 miles north of Liverpool
Roads
A583, A584, M6, M55
Rail
Blackpool North
Air
Blackpool International Airport, Liverpool John Lennon Airport, Manchester Airport
Situation
Blackpool, famous for the iconic Blackpool Tower, beach, pier and illuminations, benefits from some 11 million tourist visitors each year. The property is situated on a retail position on one of the town’s principal retailing thoroughfares and is approximately 100m equidistant from Blackpool Tower and the Winter Gardens Theatre and Blackpool Pier.
Tenure
Freehold.
Location
Miles
18 miles west of Preston, 28 miles west of Blackburn, 56 miles north of Liverpool
Roads
A583, A584, M6, M55
Rail
Blackpool North
Air
Blackpool International Airport, Liverpool John Lennon Airport, Manchester Airport
Situation
Blackpool, famous for the iconic Blackpool Tower, beach, pier and illuminations, benefits from some 11 million tourist visitors each year. The property is situated on a retail position on one of the town’s principal retailing thoroughfares and is approximately 100m equidistant from Blackpool Tower and the Winter Gardens Theatre and Blackpool Pier.
Tenure
Freehold.
Description
The property, a substantial traditional retail building comprises a self-contained retail unit on part of the ground floor, restaurant accommodation on the part ground and first floor and ancillary accommodation on the second and third floors. Nearby occupiers include Nando’s, M&S, BHS, Santander, The Orange Shop, Carphone Warehouse and Lloyds TSB.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a substantial traditional retail building comprises a self-contained retail unit on part of the ground floor, restaurant accommodation on the part ground and first floor and ancillary accommodation on the second and third floors. Nearby occupiers include Nando’s, M&S, BHS, Santander, The Orange Shop, Carphone Warehouse and Lloyds TSB.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
25
Ground First Second Third
Restaurant Restaurant Ancillary Storage
87.33 sq m 124.02 sq m 76.64 sq m 23.69 sq m
(940 sq ft) (1,335 sq ft) (825 sq ft) (255 sq ft)
BELLA ITALIA RESTAURANTS LIMITED (1)
11 years from 18/01/2012 until 2023
£66,600
27
Ground
Retail
80.36 sq m
(865 sq ft)
VACANT POSSESSION
Nil
Totals
392.04 sq m
(4,220 sq ft)
£66,600
(1) For the year ending 27th May 2012, Bella Italia Restaurants Limited reported a turnover of £68,078,000, pre-tax profits of £13,004,000 and a net worth of £69,187,000. (Source: www.riskdisk.com 22/02/2013) Bella Italia Restaurants Limited are a subsidiary of Tragus Group Limited, who operate from over 295 sites in the UK with their brands being Café Rouge, Strada, Bella Italia and the Brasseries.
