10-14 HAMMERTON STREET, BURNLEY, BB11 1NA

Quick Summary

Property ID
5383
For sale:
£395,000
Category:
Leisure, Investment
Area:
13705 sq ft
Location:
Burnley

Property Files

Map

Contact Agent


Property Description

LOCATION

The property is situated in the heart of the “circuit” with a number of bars and nightclubs in the immediate surrounding area. Located on the corner of Hargreaves Street and Hammerton Street the property has an excellent double frontage in this busy night time location.

Burnley is located to the north of Manchester a five minute drive from Junction 10 of the M65 motorway and with a population of 227,274 (2001 Census).

 

DESCRIPTION

This substantial stone built property has been used as a leisure outlet for a number of years and comprises on the ground floor of a substantial open plan bar with two raised seating areas, dance floor and DJ booth.

To the rear of the bar is a glass wash area, there is an electric goods hoist and disabled toilet and lift to the upper floors.

The first floor comprises of a nightclub with both

separate and joint access from the bar below. The accommodation is generally open plan with DJ booth, dance floor, full length bar, glass wash facility, disabled toilets and lift.

The second floor provides toilets for the club, a series of plant rooms, office, staff changing facilities and two one bedroomed self-contained flats.

The basement provides refurbished gents and ladies toilet facilities, an extensive kitchen that is partially fitted but hasn’t been used for a number of years, beer cellar, stores and various plant rooms.

 

ACCOMMODATION

Lower Ground Floor     318.2 sq.m  (3,426 sq.ft)

Ground Floor          318.2 sq.m (3,426 sq.ft) First Floor                  318.2 sq.m  (3,426 sq.ft) Second Floor                318.2 sq.m (3,426 sq.ft)

 

LEASE

The property is let by way of a 20 year full repairing and insuring lease from 2nd November 2016 between Riu Rau Ltd and Macdonald Leisure Ltd. The rent is phased over the first 6 years as follows:

 

Years 1 to 3 :         £25,000 per annum.

Years 4 and 5:       £30,000 per annum.

Year 6:                   £35,000 per annum.

 

There are rent reviews thereafter at 3 yearly intervals. There is a tenant break clause at the expiration of every 5 years with 6 months notice.

 

BUSINESS

The tenant Macdonald Leisure Ltd (Company Number 09721110) is an established nightclub operator with other venues in Accrington and a second associated venue in Burnley. They have been operating within this type of business for the last 10 years.

 

PRICE

£395,000  (three hundred and ninety-five thousand pounds).

 

LEGAL FEES

Each party is to be responsible for their own legal fees.

 

VIEWING

Strictly by appointment.

 

Petty Chartered Surveyors

Imperial Chambers, Manchester Road

Burnley, BB11 1HH

 

Tel. 01282 456677

commercial@petty.co.uk

www.pettycommercial.co.uk