Bar / Nightclub for saleIvy Leaf Club, 38a Suffolk Street, Sunderland, SR2 8JZ
Guide Price* £165,000
- Freehold investment opportunity
- Rental income of £25,000 per annum with scope for increase
- Approximately 11,000 sq ft over three floors
- Situated within a popular residential location
- EPC Rating: D
For sale by auction on Thursday 24th November 2016
At Leicester City Football Club, King Power Stadium, Filbert Way, Leicester, LE2 7FL
Commencing at 11:30 am
A large three storey detached social club.
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.
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.
By arrangement with the auctioneer 0116 254 9654 or can be booked online at www.sdlgrahampenny.co.uk
Conditions of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to the auction day. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash deposits.
The sale of each lot is subject to a buyers fee of £750 (inc VAT) payable on exchange of contracts.
*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of Guide Price and Reserve Price go to www.sdlgrahampenny.co.uk/glossary.
Energy Performance Certificates
EPCs can be viewed in full on our website www.sdlgrahampenny.co.uk on the sales details page or in the legal pack.
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*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call SDL Auctions Graham Penny, Nottingham on 01159 588702.
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