New York New York Nightclub 18-20 St Peter's Street Bedford Bedfordshire MK40 2NN

New York New York Nightclub
18-20 St Peter's Street
Bedford
Bedfordshire
MK40 2NN

Freehold Leisure Investment

Entirely let to Atmosphere Bars and Clubs Limited until 2037 (subject to option)
Current rent of ?109,000 p.a.x. with fixed increase to ?125,350 p.a.x. in 2015
Imminent rent review in July 2010
Nearby occupiers include Pizza Express and Attica Nightclub

Lot
34
Auction
27th May 2010
Rent
£109,000 per Annum
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Leisure Investment

Entirely let to Atmosphere Bars and Clubs Limited until 2037 (subject to option)
Current rent of ?109,000 p.a.x. with fixed increase to ?125,350 p.a.x. in 2015
Imminent rent review in July 2010
Nearby occupiers include Pizza Express and Attica Nightclub

Lot 34
Auction 27th May 2010
Rent £109,000 per Annum
Status Withdrawn Post
Price
Sector
Leisure
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Estimated District Population: 79,190 (Bedford); 255,000 (Central Bedfordshire)
Miles: ?20 miles north-east of Milton Keynes; 22 miles south-west of Northampton; 58 miles north of London
Roads: A6, M1
Rail: Bedford Railway Station
Air: Luton Airport

Situation

The property is situated next to Pizza Express, on the northern side of St Peter's Street which links directly onto the High Street (A6). Other nearby occupiers include Pizzeria Mamma Mia, Attica Nightclub and a number of independent retailers.

Tenure

Freehold.

Location

Estimated District Population: 79,190 (Bedford); 255,000 (Central Bedfordshire)
Miles: ?20 miles north-east of Milton Keynes; 22 miles south-west of Northampton; 58 miles north of London
Roads: A6, M1
Rail: Bedford Railway Station
Air: Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises a NIGHTCLUB on the ground floor, OFFICE AND CATERING ACCOMMODATION on the first floor and STORAGE/ANCILLARY ACCOMMODATION on the second floor. In addition the property has recently undergone a refurbishment programme and now benefits from OUTSIDE DRINKING AREAS to the rear and to the front of the property. The site extends to some 0.077 hectares (0.19 acres). VATVAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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 Second	Nightclub Office/Catering Storage	464.33 sq m 303.79 sq m 151.62 sq m	(4,998 sq ft) (3,270 sq ft) (1,632 sq ft)	ATMOSPHERE BARS AND CLUBS LIMITED (1) (guaranteed by ATMOSPHERE TOPCO LTD) (t/a NEW YORK NEW YORK)	30 years from 19/01/2007 until 18/01/2037 on a full repairing and insuring lease (2)	£109,000	26/02/2015 and 5 yearly thereafter (3)
Totals		919.74 sq m	(9,900 sq ft)			£109,000

(1) Atmosphere Bars and Clubs is one of the UK's leading operators of late night bars targeting the 25 to 40 year old market. Atmosphere's sites are located in medium to large towns throughout England and Wales and the company's main objective is to ensure that its customers enjoy the ultimate party atmosphere when they visit. The company operates 31 sites, 22 of which trade under the Chicago Rock Caf?? brand name and 9 of which are clubs trading under various brand names. (2) Please note the lease is subject to a schedule of condition and a mutual option to determine on 25th February 2035 subject to 6 months' prior written notice. (3) As to the rent review in 2015, the lease provides for a fixed increase in rent to ?125,350 p.a.x. The following reviews are upwards only to Open Market Rental Value.