FOR SALE - London - Realla
IGLU NIGHTCLUB, 3E LOWER HOLYHEAD ROAD, COVENTRY, CV1 3AX
FOR SALE City Centre Nightclub Investment 3,628 sq ft (337.11 sq m )
One of Coventry’s most popular nightclubs.
Rental of £78,000 per annum
Full Repairing and Insuring 6 year lease from 30th October 2014, personally guaranteed
Reflecting an Initial Net Internal Yield of 9.22% following addition of standard purchaser’s costs at 5.80%
£800,000 1 The Cobalt Centre Siskin Parkway East Middlemarch Business Park Coventry, CV3 4PE
IGLU NIGHTCLUB, 3E LOWER HOLYHEAD ROAD, COVENTRY, CV1 3AX Location
Sale Terms
The property is located with entrances on to Lower
The nightclub is available freehold, but with the benefit of the lease
Holyhead Road and Spon Street, in the heart of Coventry
to ASJ Leisure Limited.
City Central and close to the leisure hubs of the SkyDome and Belgrade Plaza. Iglu has formed one of the principal parts of Coventry’s late night circuit for some years and is a popular destination. The property is in short walking distance to the city’s central retail offers and also the train
Rating Rateable value = £23,500 U.B.R (2015/16) 49.3p in £ Rates Payable = £11,585.50
station, giving direct access to Birmingham and London in under an hour.
Services
Description
Mains electricity, gas, water and
The accommodation is spread over two floors, each having
premises. There is a three phase
a lengthy bar and numerous booths for seating . To the
electrical supply. None of the
ground floor is a V.I.P area, male, female and disabled WCs,
services however have been tested.
Viewing Viewing strictly by appointment through sole agent
drainage are connected to the
along with a ticket booth to the front. At first floor are further dance areas, with a large DJ booth and substantial sound system. There is access to the beer storage cellar behind the ground floor bar and a number of office/ storage rooms to the rear of the property. Externally there
V.A.T. V.A.T. will be payable on the rent.
is a ‘chill out’/ smoking area with a food service booth and
Legal Costs
barbeque, with at first floor level a further smoking area.
Each party to bear their own costs
Lease Terms
incurred in this transaction.
The property is subject to a six year lease from 30th
EPC
October 2014 to ASJ Leisure Limited, with a current
Rating - F130
David Penn or James M Brookes T:02476 308900 [email protected] [email protected]
rental of £78,000 per annum on full insuring and repairing terms and a rent review at the end of the 5th year. The lease is also personally guaranteed by Mr. Ali Askar and Mr Joseph Heggarty. The tenant is not permitted to sublet and may only assign with landlord’s consent.
Price Offers are invited in the region of £800,000 Misrepresentation Act 1967. Unfair Contract Terms 1977. The property Misdescription Act 1991. These particulars are issued without any responsibility on the part of the agent and are not to be construed as containing any representation or fact upon which any person is entitled to relay. Neither the agent or any person in their employ has any authority to make or give any representation or warranty whatsoever in relation to the property. November 2014
FOR SALE City Centre Nightclub Investment 3,628 sq ft (337.11 sq m )
One of Coventry’s most popular nightclubs.
Rental of £78,000 per annum
Full Repairing and Insuring 6 year lease from 30th October 2014, personally guaranteed
Reflecting an Initial Net Internal Yield of 9.22% following addition of standard purchaser’s costs at 5.80%
£800,000 1 The Cobalt Centre Siskin Parkway East Middlemarch Business Park Coventry, CV3 4PE
IGLU NIGHTCLUB, 3E LOWER HOLYHEAD ROAD, COVENTRY, CV1 3AX Location
Sale Terms
The property is located with entrances on to Lower
The nightclub is available freehold, but with the benefit of the lease
Holyhead Road and Spon Street, in the heart of Coventry
to ASJ Leisure Limited.
City Central and close to the leisure hubs of the SkyDome and Belgrade Plaza. Iglu has formed one of the principal parts of Coventry’s late night circuit for some years and is a popular destination. The property is in short walking distance to the city’s central retail offers and also the train
Rating Rateable value = £23,500 U.B.R (2015/16) 49.3p in £ Rates Payable = £11,585.50
station, giving direct access to Birmingham and London in under an hour.
Services
Description
Mains electricity, gas, water and
The accommodation is spread over two floors, each having
premises. There is a three phase
a lengthy bar and numerous booths for seating . To the
electrical supply. None of the
ground floor is a V.I.P area, male, female and disabled WCs,
services however have been tested.
Viewing Viewing strictly by appointment through sole agent
drainage are connected to the
along with a ticket booth to the front. At first floor are further dance areas, with a large DJ booth and substantial sound system. There is access to the beer storage cellar behind the ground floor bar and a number of office/ storage rooms to the rear of the property. Externally there
V.A.T. V.A.T. will be payable on the rent.
is a ‘chill out’/ smoking area with a food service booth and
Legal Costs
barbeque, with at first floor level a further smoking area.
Each party to bear their own costs
Lease Terms
incurred in this transaction.
The property is subject to a six year lease from 30th
EPC
October 2014 to ASJ Leisure Limited, with a current
Rating - F130
David Penn or James M Brookes T:02476 308900 [email protected] [email protected]
rental of £78,000 per annum on full insuring and repairing terms and a rent review at the end of the 5th year. The lease is also personally guaranteed by Mr. Ali Askar and Mr Joseph Heggarty. The tenant is not permitted to sublet and may only assign with landlord’s consent.
Price Offers are invited in the region of £800,000 Misrepresentation Act 1967. Unfair Contract Terms 1977. The property Misdescription Act 1991. These particulars are issued without any responsibility on the part of the agent and are not to be construed as containing any representation or fact upon which any person is entitled to relay. Neither the agent or any person in their employ has any authority to make or give any representation or warranty whatsoever in relation to the property. November 2014
