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3E Lower Holyhead Road, Coventry, CV1 3AX

For sale: £820,000.00|3628 Sq Ft|Other, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£820,000.00
SIZE3628 Sq Ft
ADDRESS3E Lower Holyhead Road, Coventry, CV1 3AX
TYPEOther, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON27th July 2020

DESCRIPTION

The property has formed one of the principal parts of Coventry's late night circuit for some years and is a popular destination, the main entrance off Spon Street. The accommodation is spread over two floors, each having a lengthy bar, seating and amenities. The ground floor has a generous reception area and ticket booth. 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 is a "chill out"/smoking area with a further smoking area at first floor level.

Trading as That CLUB/The Belaire Lounge, the venue has established a strong reputation as the City's most stylish late nightspot.

The property is situated between Spon Street and Lower Holyhead Road in the heart of Coventry City Centre in an area of significant investment. Spon Street is popular for bars, restaurants and clubs and nearby are significant developments such as Belgrade Plaza, the Co-operative, the former Coventry Telegraph major redevelopment and a number of major new student developments.

Offers are invited for the freehold interest, subject to the new lease. in excess of £820,000. A sale at that level would reflect a net initial yield of 9.01% after allowing for purchaser's costs at 5.52%.

EPC rating of F-130.

By appointment with agent David Penn.

Each party are to bear their own legal costs incurred in this transaction.

City Centre Nightclub Investment

Trading as That CLUB/Belaire Lounge; one of Coventry's most popular Nightclubs

Let on new lease for a 10 year term

Rent of £78,000 per annum

Full recent fit-out


( Agency Pilot Software Ref: 746 )

LOCATION

Location: 3E Lower Holyhead Road, Coventry, CV1 3AX

Coventry (0.5 miles)

Canley (1.3 miles)

Tile Hill (3.6 miles)

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