icons_size_white icons_size

Level, 2 Rylands Street

For sale: £425,000.00|0.06 Acre|Pubs/Bars/Clubs, Licensed & Leisure

PROPERTY DETAILS

FOR SALE£425,000.00
SIZE0.06 Acre
ADDRESSLevel, 2 Rylands Street, Warrington, WA1 1EN
TYPEPubs/Bars/Clubs, Licensed & Leisure
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON8th September 2020

DESCRIPTION

Key Points

  • Freehold Bar Investment
  • Let to Priory Inns Northwest Ltd
  • Current rent £37,120 per annum
  • Let on a lease until 2027
  • Business unaffected by sale
  • Site area of approximately 0.06 acres
  • We are seeking offers in excess of £425,000 (8.73% Gross Initial Yield)
  • Summary

    Freehold Bar Investment

    Description

    The Property comprises a three storey semi detached building of brick elevations, partially rendered, beneath a pitched slate covered roof. The are no associated external trading areas.

    Viewings

    All viewings must be arranged strictly by appointment with the sole selling agents Savills.

    Location

    The Property is located in the town of Warrington, Cheshire. Warrington is 18 miles south west of Manchester and 20 miles east of Liverpool. The M6, M56 and M62 motorways surround the town. Level is situated fronting Rylands Street, off Bridge Street, in Warrington town centre. Bridge Street is known as the main leisure circuit in the town centre. The locality is commercial in nature with a variety of licensed and late night operators.

    Terms

    We are instructed to invite offers in excess of £425,000 (8.73% Gross Initial Yield). The business will continue to trade unaffected from the premises during the marketing of the Property and post completion of the sale.

    Accomodation

    The trading accommodation is over ground and first floor levels providing a late night bar. There are customer toilets on both floors so the trading areas can be separated for functions. The second floor is unused except for storage.

    Tenure

    The Property is held freehold. The entire Property is let on a 10 year lease to Priory Inns Northwest Ltd commencing 29th September 2017. Current rental of £37,120 per annum, subject to annual RPI linked rental increases and five yearly open market reviews.

    VAT

    It is envisaged that the Property will be sold as a TOGC so the transaction should therefore be exempt from VAT.

    Planning

    Our enquiries of the local authority have revealed that the Property is not listed nor within a Conservation Area.

    Rateable Value

    The subject Property is listed within the 2017 Rating List with a rateable value of £40,000.

    LOCATION

    Location: Level, 2 Rylands Street, Warrington, WA1 1EN

    Warrington Central (0.3 miles)

    Warrington Bank Quay (0.4 miles)

    Padgate (2.0 miles)

    close
    What do you think of our website?
    Complete our survey and
    you could win £1000
    Start here