600 capacity
4am licence
Split-level nightclub
Additional chillout/lounge bar
External trade area
Favourable lease terms
SELLER REF 96488
The town of Bromsgrove has a population of 35,000 and is possibly the most sought-after rural location in Worcestershire and possibly the South Midlands. It has excellent communication links via both the M5 and M42 motorways.
It has a vibrant and desirable town centre lined with historic Georgian buildings and is the home of a very renowned public school. At the very centre of the town is the subject property which is the town's principal nightclub venue and one of only two such outlets in the whole of the town. It benefits from the greatest capacity and the latest licensing hours.
It has been long established as the town's main nightclub, previously named the Hyde Club, 57 Monkeys and Truth. We are now assigning a favourable lease on free-of-tie terms with the freeholder being a private landlord.
TRADE AREAS
ENTRANCE HALLWAY with CLOAKROOMS and OFFICE off with reception desk and STAFF WC.
Double door access into the main bar area which is in two principal sections being the MAIN BAR which is a good size area and has some seating for up to 30 customers and a fully equipped bar servery with 7 metres in length of serving counter. The main DANCE FLOOR AREA is beyond with raised seating to rear and side and there is also a raised stage area. To the rear of the main bar area is a large STOREROOM which leads onto a good size on level BEER CELLAR.
At upper ground floor level is a further BAR/CHILLOUT LOUNGE which hasn't been utilised recently but is 10 m x 8 m and has its own fully equipped bar servery with WASH-UP/KITCHEN area to the rear. Also at first floor is a seating area overlooking the main dance floor.
EXTERNAL
To the rear is an enclosed and covered TRADE GARDEN which has fixed seating and beyond which is a further area utilised for bin storage and having 2 CAR PARKING SPACES for staff.
The property is owned by an investment company and the business has recently been operated by independent tenants and therefore no trading figures are available.
Prospective purchasers will need to reach their own conclusions as to the potential trade and profitability which can be enjoyed at this outlet.
LEASEHOLD:£25,000 to include fixtures and fittings. Stock, glassware, loose catering effects and linen at valuation in addition.
TERM:Six years.
LANDLORD & TENANT ACT 1954:Inside Part II Landlord & Tenant Act 1954.
ASSIGNABILITY:Fully assignable subject to Landlord's consent.
BOND:A bond equivalent to three months' rent in advance.
RENT:£40,000 per annum, paid monthly in advance.
RENT REVIEW:Subject to rent reviews every third year of the term.
REPAIR LIABILITY:Part repairing and insuring lease. This is not a full repairing and insuring lease with the Landlord retaining responsibility for the structure of the building. The Tenant will be responsible for internal maintenance, repair and decoration as well as the decorative condition of the exterior of the property.
TIE:Free-of-tie.
INSURANCE:The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent.
VAT:VAT will be payable on the Premium and rental payments.
A full Premises Licence is held permitting the retail of alcohol:
7 days a week: 10:00 - 04:00
All mains services are connected.
Rateable value: £19,250
Local Authority: Worcestershire County Council
