restaurant boathouse, elvet ... - Gerald Eve
FOR SALE FREEHOLD / LONG LEASEHOLD Of interest to operators, developers and investors
On behalf of the joint administrators Peter Saville, Anne O’Keefe and Nick Cropper
E N I C TI O P R UC ED R
STUNNING RIVERSIDE BAR / RESTAURANT BOATHOUSE, ELVET RIVERSIDE, DURHAM DH1 3AF
BOATHOUSE ELVET RIVERSIDE, DURHAM DH1 3AF
OFFERS IN EXCESS OF £1,400,000 + VAT
• STUNNING RIVERSIDE LOCATION
Location This attractive property is situated within the heart of Durham city centre, located on the banks of the River Wear behind the Prince Bishops shopping centre and multi–storey car park. The property benefits from good visibility from Elvet Bridge. A boat hire business aimed at tourists is located immediately to the front of the premises on the river banks.
• A3 POTENTIAL • HISTORIC CITY • UNIVERSITY TRADE • STRONG TOURIST CENTRE
Description The property consists of a detached two storey part brick, part rendered property under a pitched slate roof. Part of the roof is flat with a glass lantern roof/atrium. The property benefits from good external trading areas with a large balcony at first floor and beer garden fronting the river.
• OUTSIDE TRADING AREA
Internal acommodation The property is arranged over two levels. The ground floor consists of three sections with a long bar servery in the centre and customer WCs at the far end. The first floor provides a large open area with a second servery, a small kitchen and customer WCs. Doors open to two external balconies. There is a substantial basement cellar. External areas There is a beer garden area alongside the riverbank with tables and seating for circa 50 people. A terraced area at first floor provides southern views overlooking the river. Subway 3 to
Tenure Part freehold, part long leasehold.
10
HIG H
ST RE ET
43
11
to
16
REET HIGH ST
17 to 19
20 to
32
© Crown Copyright 2013. Licence No.100020449
38
37
36
29 TO
New Elvet Bridge
28 8
Landing Stage
15 16 to
17
Riv er W ea r
13 14
12
18
26
32
35.1m
23
22 21
42.7m
22a
20
64
19
35
34 to
ET RE ST LER DD SA
21a
62
20a
37 38
Bank
61
39
40
Elvet Bridge
41
EL VE TB RID GE
42
Drury Lane
PH
57
96
55 to
95
© Crown Copyright 2013. Licence No.100020449
1:1250
92 93
45
Ordnance Survey © Crown Copyright 2012. All rights reserved. Licence number 100020449. Plotted Scale -
91
(site of)
90
St Andrew's Chapel
30m
88
20m 44
10m
43 to
0m
87
H
Ordnance Survey © Crown Copyright 2013. All rights reserved. Licence number 100020449. Plotted Scale - 1:35000
www.geraldeve.com
Rent/lease expiry Parts of the site are held on two leases expiring on 12 May 2838 at peppercorn rents. 2010 Rateable value £100,000 – public house and premises. Energy Performance Asset Rating “E” – 101 CO2 emissions – copy of full assessment on request. The Royal County Hotel
Planning Durham County Council (03000 261 397) Licensing The property has the benefit of a Premises Licence which allows the sale of alcohol for the consumption on or off the premises: Monday - Saturday: 11:00 to 01:30 Sunday: 12:00 to 01:30 Yr Ending Jul 11
Yr Ending Jul 12
Yr Ending Jul 13
Turnover incl AWPs
£ 907,842
£ 979,609
£ 983,841
EBITDA
£ 172,868
£ 195,763
£ 253,275
Please contact Chris Ford Ross Bettridge [email protected] [email protected] Tel. 020 7333 6366 Tel. 020 7333 6404 Mobile 07836 696530 Mobile 07919 015809
TERMS AND CONDITIONS Gerald Eve LLP (“Gerald Eve”) is pleased to offer for sale on behalf of the joint administrators Peter Saville, Anne O’Keefe and Nick Cropper (“administrators”) the freehold / long leasehold premises (‘the Property’) referred to within this brochure. The details contained within this document are believed to be correct, but they do not constitute an offer, or any part of a contract. All descriptions, details and plans are in general terms only and may be liable to variation or adjustment. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by carrying out the appropriate searches or otherwise to ascertain the correctness thereof. The joint administrators act as agents of PBR Leisure Limited without personal liability.
Gerald Eve’s marketing and subsequent sales will be subject to the following:
12. Names and trading style names are excluded from the sale as are all trademarks and domain names associated with them.
Conditions 1. All negotiations will be “subject to contract” and the administrator’s formal approval. 2. The sale will be structured as a property transaction and no warranties will be given within the sale contract. 3. The administrators reserve the right to withdraw the Property from the market at any stage without liability to any prospective purchaser, or third party. Financial information 4. Trading information has been supplied to Gerald Eve by the administrators. Turnover figures are net of VAT. Trading figures are for twelve (12) months ending in July each year. Employees 5. The Transfer of Undertaking’s (Protection of Employment) Regulations 2006 (“TUPE”) will apply if any properties are sold for their current licensed use. The purchaser will be required to continue the employment of all employees working at the Property being sold and to pay any liability arising of any TUPE related issues. Pensions 6. The purchaser will be required to fulfill any pension obligations owed to any employees acquired as part of the sale process if the Property is to be sold for its current licensed use. VAT 7. The purchaser shall be liable to the administrators for any VAT payable in connection with the sale. All prices quoted and offers made shall be deemed to be exclusive of VAT.
13. The administrators will remove all branded signage and other branded material from the Property on or before completion. Licences 14. The property has a Premises Licence and copies are available on request. For a trade sale the administrators will use their reasonable endeavours to procure the transfer of any applicable licences relating to a property, but shall not be held liable if a licence cannot be transferred. 15. It is a requirement of the Licensing Act 2003 that properties serving alcohol have a designated premises supervisor who must be the holder of a Personal Licence. Prospective purchasers are advised to take appropriate specialist advice. Sale Process & Offers 16. The property is being offered for sale by private treaty. A date may be set for the submission of informal tenders, details of which will be advised. 17. For trade sales the sale contract will apportion the sale price between Land & Buildings, Landlord’s Fixtures & Fittings and Trade Furnishings & Effects. The administrators will retain the benefit of any capital allowances. 18. Preference will be given to companies or LLPs able to confirm that they have secured their board approval for the bid being submitted. 19. A 10% non-refundable deposit will be required on exchange of contracts. 20. Purchasers will be required to provide appropriate proof of their ability to fund any acquisition. Please, therefore, submit letters from your banks and any equity partners with your bid. Preference will be given to companies or LLPs able to confirm that they have secured adequate funding. Viewing Arrangements
Trade Inventory 8. If applicable, a Trade Inventory will be prepared in accordance with normal trade practice. Leased or other items not owned by the administrators will be excluded, as will gaming machines, beer raising equipment, branded signage, computer equipment and cash tills. Certain other items bearing the corporate identity or any brand names will be removed from the premises at completion.
21. In the first instance interested parties are invited to carry out customer visits during trading hours. Prospective purchasers are asked not to approach or discuss details regarding the sale of any the Property with the unit manager or staff in any circumstances. More detailed inspections may be made by appointment by contacting Gerald Eve. Viewing days may be held. Searches
9. If applicable, wet & dry stock, glassware, crockery, cutlery and cleaning materials and fuel will be sold to the purchaser at valuation on completion. 10. Contracts for goods and services at the Property will not transfer on the completion date and the purchaser will need to make other arrangements in this regard. Customer Bookings 11. Trade purchasers will be required to honour any bookings taken prior to sale.
22. The purchaser will be expected to reimburse the administrators the full costs of Local Authority, Utility, Common Land and any other required searches that the administrator’s solicitors have been instructed to obtain to assist with the sales process and that are still valid at the point of exchange of contracts. Energy Performance Certificates 23. Please find attached the Energy Performance Certificate.
Conditions under which these particulars are issued All details in these particulars are given in good faith, but Gerald Eve LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that:-
Intellectual property and de-branding
1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Gerald Eve LLP have no authority to make or enter into any such offer or contract. 2. All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by Gerald Eve LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do Gerald Eve LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. This statement does not affect any statutory rights you may have nor does it intend to limit Gerald Eve’s liability which cannot be excluded or limited by law. Particulars issued November 2013
On behalf of the joint administrators Peter Saville, Anne O’Keefe and Nick Cropper
E N I C TI O P R UC ED R
STUNNING RIVERSIDE BAR / RESTAURANT BOATHOUSE, ELVET RIVERSIDE, DURHAM DH1 3AF
BOATHOUSE ELVET RIVERSIDE, DURHAM DH1 3AF
OFFERS IN EXCESS OF £1,400,000 + VAT
• STUNNING RIVERSIDE LOCATION
Location This attractive property is situated within the heart of Durham city centre, located on the banks of the River Wear behind the Prince Bishops shopping centre and multi–storey car park. The property benefits from good visibility from Elvet Bridge. A boat hire business aimed at tourists is located immediately to the front of the premises on the river banks.
• A3 POTENTIAL • HISTORIC CITY • UNIVERSITY TRADE • STRONG TOURIST CENTRE
Description The property consists of a detached two storey part brick, part rendered property under a pitched slate roof. Part of the roof is flat with a glass lantern roof/atrium. The property benefits from good external trading areas with a large balcony at first floor and beer garden fronting the river.
• OUTSIDE TRADING AREA
Internal acommodation The property is arranged over two levels. The ground floor consists of three sections with a long bar servery in the centre and customer WCs at the far end. The first floor provides a large open area with a second servery, a small kitchen and customer WCs. Doors open to two external balconies. There is a substantial basement cellar. External areas There is a beer garden area alongside the riverbank with tables and seating for circa 50 people. A terraced area at first floor provides southern views overlooking the river. Subway 3 to
Tenure Part freehold, part long leasehold.
10
HIG H
ST RE ET
43
11
to
16
REET HIGH ST
17 to 19
20 to
32
© Crown Copyright 2013. Licence No.100020449
38
37
36
29 TO
New Elvet Bridge
28 8
Landing Stage
15 16 to
17
Riv er W ea r
13 14
12
18
26
32
35.1m
23
22 21
42.7m
22a
20
64
19
35
34 to
ET RE ST LER DD SA
21a
62
20a
37 38
Bank
61
39
40
Elvet Bridge
41
EL VE TB RID GE
42
Drury Lane
PH
57
96
55 to
95
© Crown Copyright 2013. Licence No.100020449
1:1250
92 93
45
Ordnance Survey © Crown Copyright 2012. All rights reserved. Licence number 100020449. Plotted Scale -
91
(site of)
90
St Andrew's Chapel
30m
88
20m 44
10m
43 to
0m
87
H
Ordnance Survey © Crown Copyright 2013. All rights reserved. Licence number 100020449. Plotted Scale - 1:35000
www.geraldeve.com
Rent/lease expiry Parts of the site are held on two leases expiring on 12 May 2838 at peppercorn rents. 2010 Rateable value £100,000 – public house and premises. Energy Performance Asset Rating “E” – 101 CO2 emissions – copy of full assessment on request. The Royal County Hotel
Planning Durham County Council (03000 261 397) Licensing The property has the benefit of a Premises Licence which allows the sale of alcohol for the consumption on or off the premises: Monday - Saturday: 11:00 to 01:30 Sunday: 12:00 to 01:30 Yr Ending Jul 11
Yr Ending Jul 12
Yr Ending Jul 13
Turnover incl AWPs
£ 907,842
£ 979,609
£ 983,841
EBITDA
£ 172,868
£ 195,763
£ 253,275
Please contact Chris Ford Ross Bettridge [email protected] [email protected] Tel. 020 7333 6366 Tel. 020 7333 6404 Mobile 07836 696530 Mobile 07919 015809
TERMS AND CONDITIONS Gerald Eve LLP (“Gerald Eve”) is pleased to offer for sale on behalf of the joint administrators Peter Saville, Anne O’Keefe and Nick Cropper (“administrators”) the freehold / long leasehold premises (‘the Property’) referred to within this brochure. The details contained within this document are believed to be correct, but they do not constitute an offer, or any part of a contract. All descriptions, details and plans are in general terms only and may be liable to variation or adjustment. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by carrying out the appropriate searches or otherwise to ascertain the correctness thereof. The joint administrators act as agents of PBR Leisure Limited without personal liability.
Gerald Eve’s marketing and subsequent sales will be subject to the following:
12. Names and trading style names are excluded from the sale as are all trademarks and domain names associated with them.
Conditions 1. All negotiations will be “subject to contract” and the administrator’s formal approval. 2. The sale will be structured as a property transaction and no warranties will be given within the sale contract. 3. The administrators reserve the right to withdraw the Property from the market at any stage without liability to any prospective purchaser, or third party. Financial information 4. Trading information has been supplied to Gerald Eve by the administrators. Turnover figures are net of VAT. Trading figures are for twelve (12) months ending in July each year. Employees 5. The Transfer of Undertaking’s (Protection of Employment) Regulations 2006 (“TUPE”) will apply if any properties are sold for their current licensed use. The purchaser will be required to continue the employment of all employees working at the Property being sold and to pay any liability arising of any TUPE related issues. Pensions 6. The purchaser will be required to fulfill any pension obligations owed to any employees acquired as part of the sale process if the Property is to be sold for its current licensed use. VAT 7. The purchaser shall be liable to the administrators for any VAT payable in connection with the sale. All prices quoted and offers made shall be deemed to be exclusive of VAT.
13. The administrators will remove all branded signage and other branded material from the Property on or before completion. Licences 14. The property has a Premises Licence and copies are available on request. For a trade sale the administrators will use their reasonable endeavours to procure the transfer of any applicable licences relating to a property, but shall not be held liable if a licence cannot be transferred. 15. It is a requirement of the Licensing Act 2003 that properties serving alcohol have a designated premises supervisor who must be the holder of a Personal Licence. Prospective purchasers are advised to take appropriate specialist advice. Sale Process & Offers 16. The property is being offered for sale by private treaty. A date may be set for the submission of informal tenders, details of which will be advised. 17. For trade sales the sale contract will apportion the sale price between Land & Buildings, Landlord’s Fixtures & Fittings and Trade Furnishings & Effects. The administrators will retain the benefit of any capital allowances. 18. Preference will be given to companies or LLPs able to confirm that they have secured their board approval for the bid being submitted. 19. A 10% non-refundable deposit will be required on exchange of contracts. 20. Purchasers will be required to provide appropriate proof of their ability to fund any acquisition. Please, therefore, submit letters from your banks and any equity partners with your bid. Preference will be given to companies or LLPs able to confirm that they have secured adequate funding. Viewing Arrangements
Trade Inventory 8. If applicable, a Trade Inventory will be prepared in accordance with normal trade practice. Leased or other items not owned by the administrators will be excluded, as will gaming machines, beer raising equipment, branded signage, computer equipment and cash tills. Certain other items bearing the corporate identity or any brand names will be removed from the premises at completion.
21. In the first instance interested parties are invited to carry out customer visits during trading hours. Prospective purchasers are asked not to approach or discuss details regarding the sale of any the Property with the unit manager or staff in any circumstances. More detailed inspections may be made by appointment by contacting Gerald Eve. Viewing days may be held. Searches
9. If applicable, wet & dry stock, glassware, crockery, cutlery and cleaning materials and fuel will be sold to the purchaser at valuation on completion. 10. Contracts for goods and services at the Property will not transfer on the completion date and the purchaser will need to make other arrangements in this regard. Customer Bookings 11. Trade purchasers will be required to honour any bookings taken prior to sale.
22. The purchaser will be expected to reimburse the administrators the full costs of Local Authority, Utility, Common Land and any other required searches that the administrator’s solicitors have been instructed to obtain to assist with the sales process and that are still valid at the point of exchange of contracts. Energy Performance Certificates 23. Please find attached the Energy Performance Certificate.
Conditions under which these particulars are issued All details in these particulars are given in good faith, but Gerald Eve LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that:-
Intellectual property and de-branding
1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Gerald Eve LLP have no authority to make or enter into any such offer or contract. 2. All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by Gerald Eve LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do Gerald Eve LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. This statement does not affect any statutory rights you may have nor does it intend to limit Gerald Eve’s liability which cannot be excluded or limited by law. Particulars issued November 2013
