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Buzz Bingo, Savoy Buildings, Radford Road, Coventry

Offer in excess of

£3,300,000

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Size

28,659

Tenure

Freehold

EPC

Parking

Ask agent

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Primary use: Other leisure

No floor / site plan

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Key features

Prime Freehold Leisure Investment let to Buzz Group Ltd.
Prominently positioned on a local shopping parade on Radford Road with onsite parking and separate additional 1.37-acre plot.
FRI Lease to Buzz Group Ltd. Unexpired term in excess of13 years. Expiry 18thDecember 2039.
Current rent of £298,122 p.a. (£10.40 psf). Annual December RPI uplifts collared and capped at 1% and 4%.
The property comrprises28,659 sqft (2,663 sqm) GIA on a 0.98-acre (0.4 hectares) site.
Offers a residential development opportunity on surplus, separately titled land, supported by a positive Coventry City Council pre-application response confirming the principle of development.
Offers are invited in excess of £3,300,000. Subject to contract and exclusive of VAT for the asset. This reflects a NIY of 8.46% and a low capital price per square foot of £115.

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Description

The property is a converted cinema of steel frame and brick construction that extends 28,659 sq ft on a 0.98- acre site. The property is arranged over ground and first floor and has been externally redeveloped to the rear. The main building fronts Radford Road with access to the entrance foyer to the rear.

The property benefits from a separate customer car park directly adjacent to the building, extending to an additional 1.37 acres. A pre-application submission has been obtained, indicating the potential for a residential development of 55 apartments on this site. Buzz Bingo has agreed terms in principle to surrender this element of the site in exchange for a release premium, with further details available upon request.

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Additional information

Service charge: Ask agent
Business rates: Ask agent
Use class: Ask agent
Listed building: Ask agent

Energy performance certificate: B

An Energy Performance certificate helps you understand the current energy efficiency of a property.

Buzz Bingo, Savoy Buildings, Radford Road, Coventry

NEAREST STATIONS

Coventry Station

1.5 miles

Canley Station

1.98 miles

Coventry Arena Station

1.99 miles

About CBRE Pubs, London (Licensed, Leisure & Hotel Property)

With an integrated network of over 300 wholly owned offices in more than 50 countries, our commercial property consultants advise more clients globally than any other commercial property adviser.

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Disclaimer - Property reference Buzz_Bingo_Coventry. 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.

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Buzz Bingo, Savoy Buildings, Radford Road, Coventry

28,659

Freehold

Key features

Description

Buzz Bingo, Savoy Buildings, Radford Road, Coventry

About CBRE Pubs, London (Licensed, Leisure & Hotel Property)

Your search history

Buzz Bingo, Savoy Buildings, Radford Road, Coventry

28,659

Freehold

Key features

Description

About CBRE Pubs, London (Licensed, Leisure & Hotel Property)

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