Entirely let to Ranimul 15 Limited (t/a Liquid & Envy) until 2026 with guarantee from The Luminar Group Limited
Town Centre Location within Main Leisure Area
Approximately 1,607 sq m (17,297 sq ft)
Lot 66
Auction 23rd October 2014
Rent £115,000 per Annum Exclusive
Status Sold
Price £700,000
Sector Leisure
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint Fixed Charge Receivers, JLL
Property Information
Location
Miles
6 miles south of Rochdale, 7 miles north-east of Manchester
Roads
A627, A62, M60, M62
Rail
Mills House Railway Station
Air
Manchester Airport
Situation
Oldham is situated some 7 miles north-east of Manchester city centre with good links being located close to the M60 and M62 motorways. The property is situated within the main leisure circuit in Oldham town centre, with frontage onto both Waterloo Street and Retiro Street.
Tenure
Freehold.
Location
Miles
6 miles south of Rochdale, 7 miles north-east of Manchester
Roads
A627, A62, M60, M62
Rail
Mills House Railway Station
Air
Manchester Airport
Situation
Oldham is situated some 7 miles north-east of Manchester city centre with good links being located close to the M60 and M62 motorways. The property is situated within the main leisure circuit in Oldham town centre, with frontage onto both Waterloo Street and Retiro Street.
Tenure
Freehold.
Description
The property comprises a large detached, purpose built two storey nightclub. The property benefits from a reception area, customer lift, external smoking area and refuse area and on-site parking for approximately four vehicles.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a large detached, purpose built two storey nightclub. The property benefits from a reception area, customer lift, external smoking area and refuse area and on-site parking for approximately four vehicles.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground/First
Nightclub/Bar
1,607 sq m
(17,298 sq ft)
RANIMUL 15 LIMITED (t/a Liquid & Envy) (1) with guarantee from The Luminar Group Limited (2)
25 years from 11/06/2001 until 10/06/2026 on a full repairing and insuring lease (3)
£115,000
11/06/2016 and 11/06/2021
Totals
1,607 sq m
(17,298 sq ft)
£115,000
(1) Liquid is the UK's leading nightclub brand combining state-of-the-art lighting, sound and laser technology with stunning 360-degree graphics and visuals to enhance the clubbing experience. (Source: www.liquidclubs.com 12/09/2014) (2) The Luminar Group trades 55 of the largest nightclubs in the UK with other brands including Oceana and Cameo. (Source: www.luminar.co.uk 12/09/2014) (3) The tenant occupies the building under two co terminous leases. The current total rent is £90,000 p.a.x. rising to £115,000 p.a.x. on 25th December 2014 until 10th June 2016. The seller has agreed to adjust the completion monies so that the property will effectively produce £115,000 p.a.x. from completion of the sale.
