Lease expires June 2034 (no breaks) (14.75 years unexpired)
June 2019 rent review outstanding
5 residential student flats above, all let on ASTs
Adjacent to Pitcher & Piano and close to other bars and restaurants including Zizzi and Bistrot Pierre
Opposite University of Derby Law School
Lot 37
Auction 24th October 2019
Rent
Status Withdrawn Post
Price
Sector Restaurant
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
15 miles east of Nottingham
21 miles north-west of Loughborough
Roads
A38, A50, A52, M1 (J25)
Rail
Derby Midland Station
Air
East Midlands Airport
Situation
The property is located in a prominent corner position, on the northern side of Friar Gate, at its junction with Ford Street and close to Stafford Street. The property is located opposite the Law School of the University of Derby (One Friar Gate Square campus) with several cafés, bars and restaurants nearby, including Pitcher & Piano, Zizzi, Bistrot Pierre, BEAN Caffé, The Orange Tree, Friary Derby, Fat Cat, The Spice Lounge and The Bishop Blaise.
Tenure
Freehold.
Location
Miles
15 miles east of Nottingham
21 miles north-west of Loughborough
Roads
A38, A50, A52, M1 (J25)
Rail
Derby Midland Station
Air
East Midlands Airport
Situation
The property is located in a prominent corner position, on the northern side of Friar Gate, at its junction with Ford Street and close to Stafford Street. The property is located opposite the Law School of the University of Derby (One Friar Gate Square campus) with several cafés, bars and restaurants nearby, including Pitcher & Piano, Zizzi, Bistrot Pierre, BEAN Caffé, The Orange Tree, Friary Derby, Fat Cat, The Spice Lounge and The Bishop Blaise.
Tenure
Freehold.
Description
The property, which is Grade II listed, comprises a triple-fronted restaurant on the ground, mezzanine, part first and second floors with a large beer garden and self-contained residential above arranged as four studio flats and 1 x four bedroom flat on part first and second floors, with a separate entrance.
VAT
VAT is applicable to this lot.
EPC
See legal pack at acuitus.co.uk
Description
The property, which is Grade II listed, comprises a triple-fronted restaurant on the ground, mezzanine, part first and second floors with a large beer garden and self-contained residential above arranged as four studio flats and 1 x four bedroom flat on part first and second floors, with a separate entrance.
VAT
VAT is applicable to this lot.
EPC
See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Mezzanine First Floor Second Floor Beer Garden
Restaurant (with ancillary bar, offices and plant room)
(1) For the year ending 27th May 2018, Las Iguanas Limited reported a turnover of £76,985,000, a pre-tax loss of £2,061,000 and a total net worth of £19,983,000 (Source: Experian Group 07/08/2019). Las Iguanas was founded in 1991 and now has over 50 restaurants across the UK, including five restaurants in London, as well as Bath, Brighton and Edinburgh amongst others (Source: iguanas.co.uk/ restaurants 07/08/2019). (2) This rent is paid as four payments: £5,200 on 24/06/2019, 24/10/2019 and 24/01/2020 and £3,600 on 24/04/2020.