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Established Leisure Complex In Coatbridge For Sale

Coatbridge, North Lanarkshire, UK
Freehold Price:
Undisclosed Furniture / Fixtures included
Leasehold:
Undisclosed Furniture / Fixtures included
Turnover:
On request
Net Profit:
On request

OFFERS INVITED for the Freehold & Leasehold Interest

Substantial 21,000+ sq/ft property, comprised of an established public house, bar, nightclub, former nightclub and office space.

Innishmohr is a 250 capacity bar on the ground floor.
Adjacent, the Community Hub is a former function space, attached to the pub.

30’s & Sugar is a 500 capacity bar/nightclub/function space at lower ground/basement level.

First floor & mezzanine are currently un-used and in a ‘shell’ condition. Previously operated as a 784 capacity nightclub with its own dedicated entrance from ground/street level.

Significant opportunity for developing the current established business and re-developing the first floor space. One of the most prominent pieces of real-estate in Coatbridge. On Main Street with permitted use of the adjacent car park.

Huge investment potential with 5/6 separate areas which could be split and tenanted. Suitable for multiple types of hospitality/leisure business such as a function space, gym, studio, offices or retail.

For Sale, MAY LEASE to the right operator with potential for a purchase option.

Viewings by appointment, full financial information will be shared upon viewing.

Property Information

Property:

Available as freehold and leasehold

Leasehold Type:
New
Location:

144-146 Main Street, Coatbridge.

The subjects occupy a prominent position on the south side of Main Street, opposite its junction with Dunbeth Road (B804) at the eastern end of the main pedestrianised shopping precinct serving Coatbridge town centre.

Premises Details:

The premises is in an area of mature and established commercial character, with a good range of town centre amenities in easy walking distance, although a number of retail operations have ceased trading such as The Quadrant indoor shopping mall and associated car park. The subjects comprise a substantial leisure complex built in the mid to late 1990s, featuring traditional design and construction. The complex is arranged over ground, basement, and first floors, with the basement accessible from the rear due to the site’s slope. The building has brick and concrete blockwork elevations and a pitched tiled roof with a flat section.
The accommodation includes a nightclub and smaller club room at the basement level, a bar/lounge, and a separate Community Hub on the ground floor. The first and mezzanine levels are currently unused. Part of the ground floor is occupied by a William Hill bookmaker and is not included in this sale. The interior features solid floors with various coverings such as vinyl, carpet, and tile, and walls and ceilings in plaster or plasterboard with painted finishes.
Natural light comes from double-glazed windows. The Irish-themed ground floor bar, Innishmohr, includes a main door access, traditional style bar counter, fixed booth seating, and a capacity of up to 225 patrons with dedicated toilet
facilities. The adjacent unit is currently set up as a the landlord’s Community Hub, Providing
a warm and safe space for locals - it offers them books, games, hot drinks, and a bite to eat - giving access to some life essentials that many people struggle to afford during these challenging times. toilets at the basement level.
The lower ground 400-capacity nightclub, Thirties, features a bar, dance floor, stage, and DJ booth, linked to the smaller 100-capacity cocktail bar, Sugar.
The basement includes patron toilets, a cash kiosk, cloakroom, security room, and beer cellar with delivery access. The first and mezzanine floors are currently unused, stripped to a shell specification with a concrete floor and blockwork walls. The mezzanine, accessed by a cast iron spiral staircase, includes basic administration offices. The adjacent car park, although not owned by the property, is permitted to for use at lower ground level, accessible to the rear of the building.

Size in square feet:
21,000

Business Operation

Expansion Potential:

6,700 sq/ft space currently unused on the first floor, could be segregated and utilised for investment. The community hub is currently operated by the landlord's charity foundation however it is licensed as it was previously used as a function suite.

Reasons for selling:

The landlord operates a multi-venue wedding business with multiple sites across Scotland. This portion of their estate is no longer their core business focus, which provides a fantastic opportunity for someone to develop.

Trading hours:

Bar & Nightclub Friday-Sunday, Community Hub is open all week

Employees:
10
Years established:
25

Other Information

Financing available:

We can introduce you to our network of finance brokers to assist with funding where required

Related Documents:
Leasehold asking price:
Undisclosed - Furniture / Fixtures included