For sale - trading nightclubs on behalf of Luminar Leisure

FOR SALE
TRADING NIGHTCLUBS
ON BEHALF OF LUMINAR LEISURE
Gerald Eve LLP is pleased to offer for sale four trading nightclubs
on behalf of Luminar Leisure. They are available individually, or as a
package and will be sold as transfers of going concerns.
The nightclubs on offer include one freehold property and three
leasehold properties. Guide prices are available on request.
Please contact Chris Ford, Daniel Anning or Fergus Jagger for
more information, or to discuss viewing arrangements.
Contact details
Chris Ford
cford@geraldeve.com
Tel. 020 7333 6366
Mobile 07836 696530
Daniel Anning
danning@geraldeve.com
Tel. 020 7333 6374
Mobile 07776 161821
Fergus Jagger
fjagger@geraldeve.com
Tel. 020 7653 6831
Mobile 07787 558756
PROSPECTIVE PURCHASERS SHOULD NOT APPROACH OR DISCUSS DETAILS REGARDING THE
SALE OF ANY PROPERTY WITH THE MANAGER OR CLUB STAFF.
BIRMINGHAM – OCEANA NIGHTCLUB
HURST STREET, B5 4AS
• within established club and bar area
Location
On the southern side of Birmingham city centre, on the edge of China Town, and close to
Birmingham Hippodrome. Opposite Circus Casino. An area predominantly occupied by
clubs, bars and restaurants. Approximately five minutes walk from New Street station and
the Bull Ring. Nearby hotels include Holiday Inn and Radisson Blu.
• close to Bull Ring and New Street station
• large modern multi room club
• large ground floor feeder bar
Description
The extensive premises are within part of the ground floor and basement of a large retail/
office building. The property is brick built with modern glazed and metal clad façade under
a flat roof. The main entrance to Oceana fronts on to Hurst Street. A second entrance to
the Disco is from Smallbrook Queensway. Servicing is via a yard to the rear of the front
ground floor part of the demised premises. Part of the roof area provides a smoking terrace
and houses air conditioning plant and equipment.
• close to China quarter
• 3,290 capacity
Accommodation
A multi-room nightclub. The front feeder bar on Hurst Street is arranged on ground and
upper floor levels with access to basement WCs and the main night club. A central corridor
through the basement provides circulation and access to six themed club rooms –
Wakyama, Ski Lodge, Monte Carlo, Boudoir, Ice House and Disco. In addition there are
three VIP suites. The club has good provision of customer toilets, staff rooms, offices,
kitchens, stores cellarage and other back of house facilities.
Floor areas
The ground floor extends to 5,220 sq ft (484.95 sq m) and the basement provides 40,622
sq ft (3,773.90 sq m) of which 34,261sq ft (3,182.95 sq m) is laid out for club use.
© Crown Copyright 2010. Licence No.100020449
Floor to ceiling heights
Ground floor front bar area 3.94 m max
Basement 2.41 m but Ice House dance floor 5.23 m, Disco 2.55 m
Tenure
Leasehold by way of six separate leases/ licences with the main leases expiring in 2059
and the next rent reviews in 2023 and 2024. Two other shorter leases of parts of the
premises expire in 2021.
Rent
The current passing rents total £347,169.92. Annual service charge and landlord’s
insurance premium to be confirmed.
2010 RV
Licensing
Opens Fridays and Saturdays plus Wednesdays and Thursdays during student term time.
Licensed for 24 hours. Late night refreshments from 23.00 to 05.00.
Trading
£
© Crown Copyright 2010. Licence No.100020449
£400,000
Sales
Y/E March 2008
Y/E March 2009
Y/E March 2010
MAT August 2010
4,239,636
3,540,490
2,293,467
1,993,599
Premium offers invited. Guide price on application
Please contact:
Chris Ford
cford@geraldeve.com
Tel. 020 7333 6366
Mobile 07836 696 530
BOLTON – IKON & JAXX NIGHTCLUB
BRIDGE STREET, BL1 2ED
Location
To the north of the town centre shopping area. The building fronts the pavement on two
sides at the traffic light junction of Bridge Street and St Georges Road and adjoins a public
multi storey car park and the Market Place Shopping Centre. There is a Holiday Inn
opposite and Mint casino.
• prominent corner site
• large venue over three levels
• unbranded Ikon nightclub
• Jaxx ready for investment
Description
A large corner property originally built as the Palais de Danse, Bolton in the 1920’s. It is
arranged on ground, mezzanine and basement levels. It is constructed of brick, part
rendered part clad under a pitched roof with certain areas of flat roofing
• 2,540 capacity
Accommodation
The main corner entrance leads to the main Ikon club with pay desk and cloakroom at the
entrance, a large drinking area with an island bar servery and gents toilets to the side.
The main dance floor and club occupies the rear half of the ground floor with ladies WCs
off to the right and a second bar servery down the left hand side. There is a stage at the far
end and access to the side through to a rear court yard for smokers. Stairs lead up to a
mezzanine level which overlooks the dance floor. There is a third bar servery at this level
and additional ladies WCs. Staff rooms and offices are at the front of the building.
At basement level with access from Bridge Street there is Jaxx nightclub. This – formerly
Jumping Jaks – comprises a pay desk, three bar serveries, ladies and gents WCs. There is
rear access to the external smoking area and delivery doors to the beer cellar accessed
from the side and rear of the property.
Floor areas
26,791 sq ft
(2,489 sq m)
© Crown Copyright 2010. Licence No.100020449
© Crown Copyright 2010. Licence No.100020449
Floor to ceiling heights
Ground floor front bar area 2.17 m
Dance floor 5.45 m
Mezzanine 2.63 m
Basment 2.8 m max
Tenure
Freehold, but subject to a five year lease of land for escape routes, smoking solutions and
beer storage and a Licence which expires in 2013 to use the side alley for access and fire
escape purposes.
Rent
Current rents and licence fees total £5,202 p.a.
2010 RV
£64,000
Licensing
Currently opens Thursday 10.30pm – 2.00am Friday 10.30pm – 3.30am and Saturday
10.30pm – 4.00am. Licensed seven days a week 11.00am to 04.00am. There are separate
Premises Licences for Ikon and for Jaxx.
Trading
£
Sales
Y/E March 2008
Y/E March 2009
Y/E March 2010
MAT August 2010
2,005,449
1,974,140
1,212,604
778,710
Offers Invited. Guide price on application
Please contact:
Chris Ford
cford@geraldeve.com
Tel. 020 7333 6366
Mobile 07836 696 530
ROMFORD – ONE THREE ONE NIGHTCLUB
131 SOUTH STREET RM1 1NX
• town centre location within entertainment circuit
• opposite to Romford railway station
• prominent corner building
Location
The club is located in a busy prime town centre pitch opposite the main line railway station.
The site benefits from significant pedestrian footfall and the club is positioned within
Romford’s evening entertainment circuit. Immediate occupiers include two Wetherspoon
outlets, McDonald’s and a substantial Liquid and Envy nightclub opposite.
• unbranded club arranged over two floors
Description
Originally a post office, the property has attractive brick built external elevations and is
highly visible given its corner position at the junction of Eastern Road and South Street.
Full height glazed folding doors are provided along the South Street frontage and there is a
lengthy return frontage to Eastern Road. Part of the return frontage benefits from full height
fenestration to the ground floor bar. The elevations have feature brick detailing under a part
pitched tiled roof.
• 600 capacity
Accommodation
The club is arranged principally over ground and first floors with mezzanine
accommodation providing washroom facilities and a rear basement area affording storage
facilities. There is cellar, storage and trade kitchen facilities provided at ground floor level at
the rear of the building. Two bars are situated at ground floor level and the first floor is
accessed via a feature staircase. A club room, dance floor and two bars are provided at
first floor level together with additional washroom facilities. Staff and office accommodation
is situated at first floor level at the front of the building. There are no external smoking
facilities.
Floor areas
11,034 sq ft
(1,025 sq m)
© Crown Copyright 2010. Licence No.100020449
Floor to ceiling heights
The ground floor bar has a floor to ceiling height of circa 3.95 m and the first floor club
room and dance floor has a floor to ceiling height of circa 2.50 m.
Tenure
The premises are held on full repairing and insuring lease terms expiring on 13 November
2022.
Rent
The current passing rental is £160,000 per annum.
2010 RV
Licensing
The club currently opens Tuesday, Friday and Saturday from 8.00pm to 1.30am. The Premises
Licence permitted opening hours are from 11.00am to 2.00am s.t.p.
Trading
£
Sales
© Crown Copyright 2010. Licence No.100020449
£142,000
Y/E March 2008
Y/E March 2009
Y/E March 2010
MAT August 2010
1,284,235
858,529
685,959
491,801
Premium and Rental Offers Invited
Please contact:
Chris Ford
cford@geraldeve.com
Tel. 020 7333 6366
Mobile 07836 696 530
Daniel Anning
danning@geraldeve.com
Tel. 020 7333 6374
Mobile 07776 161 821
KINGSTON – HIPPODROME NIGHTCLUB
1 ST JAMES ROAD, KINGSTON UPON THAMES, KT1 2AH
Location
Kingston upon Thames is situated to the southwest of London on the A308, accessible
from the M3 which links central London with the M25.
• university town
• affluent southwest London suburb
• modern purpose-built premises
The premises are located at the southern edge of the town centre, close to the Eden Walk
shopping centre and city centre bars and restaurants. There is public car parking nearby,
as is the railway station about five minutes to the north.
• town centre location
• capacity 2,250
Description
A large self contained property built in the late 1980s and arranged over ground and first
floors.
Accommodation
The main corner entrance leads to the main Hippodrome club on the ground floor with pay
‘island’ desk and cloakroom at the entrance. The main double height dance floor occupies
the centre of the floor with three bars, soft seating / standing areas and WC’s located
around the perimeter.
To the left of the main entrance at the front of the building is a second club entrance
leading to the ‘pre-bar’. which links to the main Hippodrome club. The outside area to
the front of the ‘pre-bar’ is currently sectioned off during trading hours and used as the
smoking area.
At first floor level viewing balconies over the central ground floor dance area are provided
with a hot food servery and kitchen, WCs, three bars and back office facilities located
around the perimeter. At the north end of the floor a segregated ‘VIP’ bar and dance floor
is located with separate stairs to the ground floor Hippodrome entrance.
© Crown Copyright 2010. Licence No.100020449
Floor areas
Approx
40,000 sq ft
(3,716 sq m)
Floor to ceiling heights
Double height ground floor dance area – 10 m.
Tenure
The property is held on a Full Repairing and Insuring 25 year lease commencing 26 May
2005 with a Landlord’s option to determine 26 May 2020.
Rent
The current passing rental is £300,000 per annum (subject to an outstanding rent review
May 2010). Annual service charge and landlord’s insurance premium to be confirmed.
2010 RV
£350,000
Licensing
Currently opens Thursday 9pm to 2am, Friday 9pm to 3am and Saturday 10pm to 3am.
Licensed seven days a week 11am to 4am
© Crown Copyright 2010. Licence No.100020449
Trading
£
Sales
Y/E March 2008
Y/E March 2009
Y/E March 2010
MAT August 2010
2,986,276
Full year
645,138
Part year
428,263
Part year
929,825
Part year
NB Previously traded as The Works. Closed 26 July 2008. Re-opened - November 2009.
Premium Offers Invited. Guide price on application.
Please contact:
Fergus Jagger
fjagger@geraldeve.com
Tel. 020 7653 6831
Mobile 07787 558756
Chris Ford
cford@geraldeve.com
Tel. 020 7333 6366
Mobile 07836 696530
Trading
£
Y/E March 2008
Y/E March 2009
Y/E March 2010
MAT August 2010
Oceana Nightclub,
Hurst Street,
Birmingham B5 4AS
4,239,636
3,540,490
2,293,467
1,993,599
Ikon & Jaxx Nightclub,
Bridge Street,
Bolton RM1 1NX
2,005,449
1,974,140
1,212,604
778,710
One Three One Nightclub,
131 South Street,
Romford RM1 1NX
1,284,235
858,529
685,959
491,801
Hippodrome Nightclub,
1 St James Road,
Kingston upon Thames,
Kingston KT1 2AH
2,986,276
Full year
645,138
Part year
428,263
Part year
929,825
Part year
Contact details
Chris Ford
cford@geraldeve.com
Tel. 020 7333 6366
Mobile. 07836 696530
Daniel Anning
danning@geraldeve.com
Tel. 020 7333 6374
Mobile. 07776 161821
Fergus Jagger
fjagger@geraldeve.com
Tel. 020 7653 6831
Mobile. 07787 558756
Conditions under which these particulars are issued
All details in these particulars are given in good faith, but Gerald Eve LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that:1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Gerald Eve LLP have no authority to make or enter into any such offer or contract.
2. All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by Gerald Eve LLP, for themselves or for the Vendors/Lessors.
3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by
whatever means as to the correctness of any statements made within these particulars.
4. The Vendors/Lessors do not make, give or imply, nor do Gerald Eve LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise,
any representation or warranty whatsoever in relation to the property.
5. The statement does not affect any potential liability under the Property Misdescriptions Act 1991.
Particulars issued October 2010
General Terms and Conditions
Gerald Eve LLP are pleased to offer for sale on behalf of Luminar Group Holdings PLC and its subsidiaries (“Luminar”) a number of freehold and leasehold
club premises within this brochure.
The details contained within this document are believed to be correct but they do not constitute an offer or any part of a contract.
All descriptions, details and plans are in general terms only and may be liable to variation or adjustment. Intending purchasers should not rely on them as
statements or representations of fact but must satisfy themselves by carrying out the appropriate searches or otherwise to
ascertain the correctness thereof.
Gerald Eve LLP’s marketing and subsequent sales will be subject to the following:
Conditions
1.
All negotiations will be ‘subject to contract’ and also to final formal
approval by the Luminar board.
13. Luminar will remove all branded signage and other branded material
from the property on or before completion.
2.
Any sales will be structured as property asset transactions and no
warranties will be given within the sale contract.
Licences
3.
Luminar reserves the right to withdraw any of the properties from the
market at any stage without liability to any prospective purchaser or third
party.
Financial Information
4.
Trading information has been supplied to Gerald Eve LLP by Luminar.
Turnover figures are net of VAT. Annual turnover is for the twelve (12)
months period ending in late February/ early March each year.
Employees
5.
Properties will be sold subject to the Transfer of Undertaking’s
(Protection of Employment) Regulations 2006 (“TUPE”). The purchaser
will be required to continue the employment of all employees working at
the acquired property on completion and to pay any liability arising in
respect of any TUPE related issues.
Pensions
6.
The purchaser will be required to fulfill any pension obligations owed to
any employees acquired as part of the sale process.
VAT
7.
The purchaser shall be liable to Luminar for any VAT payable in
connection with the sale.
Trade Inventory
8.
9.
This will be prepared in accordance with normal trade practice. Leased
or other items not owned by Luminar will be excluded, as will gaming
machines, beer raising equipment, Luminar signage, computer
equipment and cash tills. Certain other items bearing the corporate
identity or any brand names will be removed from the premises at
completion. The trade inventory will be included in the sale price.
Wet and dry stock, glassware, crockery, cutlery and cleaning materials
and fuel will be sold to the purchaser at valuation on completion.
10. Contracts for goods and services at the property will be terminated on
the completion date and the purchaser will need to make other
arrangements in this regard.
14. Luminar will use its reasonable endeavours to transfer any applicable
licences relating to the sold property but shall not be liable if a licence
cannot be transferred.
15. It is a requirement of the Licensing Act 2003 that properties serving
alcohol have a designated premises supervisor who must be the holder
of a Personal Licence. Prospective purchasers should seek appropriate
specialist advice.
Sale Process and Offers
16. The property is being offered for sale by private treaty. A date may be set
for the submission of informal tenders, details of which will be advised.
The sale contract will apportion the sale price between Land and
Buildings, Landlord's Fixtures and Fittings and Trade Furnishings and
Effects. Luminar will retain the benefit of any capital allowances.
Preference will be given to purchasers that are companies or LLP’s that
are able to confirm that they have secured their board approval for the
bid being submitted.
17. A 10% non-refundable deposit will be required on exchange of
contracts.
18. Purchasers will be required to provide appropriate proof of their ability to
fund any acquisition. Please, therefore, submit letters from your banks
and any equity partners with your bid. Preference will be given to
purchasers that are companies or LLP’s that are able to confirm that
they have secured adequate funding.
19. Purchasers will be required to provide company or similar financial
accounts, other financial details and business references in support of
applications for landlord's consent to assignment of the leasehold
interest.
In certain circumstances purchasers may be required to provide
guarantees or rent bonds of up to twelve (12) month's rent as part of the
assignment procedure.
Viewing Arrangements
Customer Bookings
20. By appointment by contacting Gerald Eve LLP . Prospective purchasers
shall not approach or discuss details regarding the sale of any property
with the manager or other staff at the venue.
11. Purchasers will be required to honour any bookings taken prior to sale.
Searches
Intellectual Property and De-branding
21. The purchaser will be expected to reimburse Luminar (or the appropriate
Luminar Group Company) the full costs of all Local Authority, Utility,
Common Land, any other required searches that Luminar's solicitors
have been instructed to obtain to assist with the sales process and that
are still valid at the point of exchange of contracts.
12. The properties have recently been trading as either Liquid, Lava, Ignite.
This and any other Luminar brand names and trading style names are
excluded from the sale as are all trademarks and domain names
associated with them. The purchaser will be obliged to operate these
venues under other brands that have no association with Luminar.