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SOLD STC

Reef, 96 Bridge Street, Warrington, WA1 2RF

Offers in Excess of
£510,000

£292.77 per sq. ft.

Business rates & charges may apply

Savills, Manchester - Licensed Leisure
SIZE AVAILABLE

1,742 sq. ft.

(162 sq. m.)

SECTOR

Pub for sale

Key features

  • Freehold Nightclub Investment
  • Let to Dv8 Bars Ltd
  • Current rent £45,504 per annum
  • Let on a lease until 2027
  • Business unaffected by sale
  • Site area of approximately 0.04 acres
  • We are seeking offers in excess of £510,000 (8.92% Gross Initial Yield)

Property description

Tenure: Freehold

Description
The Property comprises a three storey end terraced building of brick elevations beneath a pitched slate covered roof.
The are no associated external trading areas.

Viewings
All viewings must be arranged strictly by appointment with the sole selling agents Savills.

Location
The Property is located in the town of Warrington, Cheshire. Warrington is 18 miles south west of Manchester and 20 miles east of Liverpool. The M6, M56 and M62 motorways surround the town.

Reef is situated upon Bridge Street in Warrington town centre. Bridge Street is known as the main leisure circuit in the town centre. The locality is commercial in nature with a variety of licensed and late night operators.

Terms
We are instructed to invite offers in excess of £510,000 (8.92% Gross Initial Yield). The business will continue to trade unaffected from the premises during the marketing of the Property and post completion of the sale.

Accommodation
Ground floor main entrance leading to an open plan trading area. Single bar servery and dancefloor with a capacity for 200 patrons. First floor customer toilets and offices. Former two bed flat to the second floor. Beer cellar to the basement.

Tenure
The Property is held freehold. The entire Property is let on a 10 year lease to Dv8 Bars Ltd commencing 24th May 2017. Current rental of £45,504 per annum, subject to annual RPI linked rental increases and five yearly open market reviews.

VAT
It is envisaged that the Property will be sold as a TOGC so the transaction should therefore be exempt from VAT.

Planning
Our enquiries of the local authority have revealed that the Property is not listed nor within a Conservation Area.

Rateable Value
The subject Property is listed within the 2017 Rating List with a rateable value of £19,250.

Brochures

Reef, 96 Bridge Street, Warrington, WA1 2RF

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Warrington Central Station0.3 miles
  • Warrington Bank Quay Station0.4 miles
  • Warrington West Station1.9 miles

Notes

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Disclaimer - Property reference 24302-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills, Manchester - Licensed Leisure. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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