Buzz Bingo, Marine Road East, Morecambe, Lancashire, LA4
Size
26,651
Tenure
Leasehold
EPC
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Parking
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- Primary use
- Other leisure
Key features
- Prime long leasehold leisure investment let to Buzz Group Ltd
- FRI Lease to Buzz Group Ltd. Unexpired term in excess of 13 years. Expiry 18th December 2039
- Current rent of £279,000 p.a. (£10.47 psf). Annual RPI uplifts collared and capped at 1% and 4%
- The property is held on a long leasehold basis with 34 years unexpired and a head rent of £49,864 pa. This is paid directly by Buzz Bingo and not the long leaseholder.
- An opportunity to extend the long leasehold, subject to agreeing terms with the freeholder
- The property extends 26,651 sq ft (2,476 Sq m) on a 1.97 acre (0.8 hectares) site
Description
Buzz Bingo Morecambe is located at the northern end of Morecambe town centre, on Marine Road East. The property is surrounded by hotels, guesthouses and retirement homes, as well as several residential areas further driving frequent footfall to the site.
The club benefits from strong connectivity given its location on Marine Road East, providing accessibility by foot, bus and car, along with having an extensive on-site car park. Additionally, Morecambe railway station is located walking distance from the property.
SITUATION
The property is situated in a prime town centre location and is within walking distance to attractions such as the promenade and local beaches. Additionally, the property benefits from being near demand drivers including Central Retail Park and Arndale Shopping Centre with an array of retail and food outlets such as Boots, Poundstretcher and Iceland.
PROPERTY DESCRIPTION
A purpose-built bingo club that extends 26,651 sq ft (2,476 sq m) on a 1.97-acre site. The property is of steel frame construction with a large ground floor bingo hall and AWP area, with ancillary accommodation above. There is also dedicated, on-site customer parking with capacity for 84 vehicles.
ASSET MANAGEMENT OPPORTUNITY
There is an opportunity to extend the long leasehold, subject to agreeing terms with the freeholder.
- Service charge
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- Business rates
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- Use class
- Sui Generis
- Listed building
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- Floors in building
- 2
- Tenure
- Leasehold
- Length of lease
- 37 years left
An Energy Performance certificate helps you understand the current energy efficiency of a property.
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- BREEAM rating
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- Environmental description
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Brochure
Buzz Bingo, Marine Road East, Morecambe, Lancashire, LA4
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Disclaimer - Property reference Buzz_Bingo_Morecombe. 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 CBRE Pubs, London (Licensed, Leisure & Hotel Property). 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.