Parr Street Sales Brochure 2012 - Version 2

Full Income Hotel & PodZzz
2 Tenanted Bars
Full Income Offices
Tenanted Recording Studios
Iconic Liverpool Recording Studios and Hotel Up For Sale
Parr Street Studios has been helping create top 10 albums and singles here in the UK
and overseas since 1992. Amazon Studios was purchased by the Genesis Pension
Fund in the early 90’s and moved from Kirby to Parr Street to create 5 recording
studios in 1992. These recording studios still exist with Studio 1 and Studio 3 now
being the busiest. Many big names have recorded at Parr Street. Here are a few: 808 State, Act of Faith, Alfie, Alterkicks, Amorphis, Anathema, Andy Prior, Aswad, Apes Pigs & Spacemen, Atomic Kitten, Atonal, Aquarius Baby
Mother, Badly Drawn Boy, Bandit Queen, The Bandits, Belly , Barry Manilow, Basement, Beautiful South, Berri, Beyond, The, Big Circus, Big
Yoga Muffin, Bizaar Inc, Bjork, Black Sabbath, Black Star, The Black Velvets, Blaze, Blue Amazon, Blueseed, Boa, Bolt Thrower, The Boo
Radleys, Bottom Dollar, Boutique, Burn, Buzzcocks, Brian Jacques, Brianna Corrigan, Brotherhood, Bullyrag, Brutal Truth, Butterfly Child,
Carcass, Carla Werner, Carmel, Cassidy, CAST, Cat Scratch Fever, Cecil, The Charlatans, Chelsea, China Crisis, Christians, The, Chris
Norman, Cleopatra, The Clint Boon Experience, Clinic, Copacabana, Coldplay, Coral, Crackout, Cradle of Faith, Crane Builders, Crescent, Daisy
Hicks, Dave Hughes, DBH, Dead 60's, Deadline, Deadly Living Sins, Dearly Beheaded, Demon, Departure, Diablo, Diana Ross, Disincarnate,
Dodgy, Dogs, Dom Rowlet, Doves, Drop Science, Dr Phibes, Dubwar, Echo & the Bunnymen, Eden, Edsel, Elbow, Electrafixion, Elvischrist,
Embrace, Emily Remic, Energy 26, Everton Football Club, The Farm, Feeder, Fish Monkey Man, Foobar, Formula One, Frank & Walters,
Fudgetunel, Gheko, Girlfriends, Glass, Gluebound, God Boy, Gomez, Good Earth, Gorky’s Zygotic Mynci, Grace Jones, Hankypark, Hayley
Westenra, Headswim, Heartland, Herbert Gronemeyer, High Brass, Howard Jones, Howling Bells, Hurricane, I am Kloot, Ian Asbury, Ian Gillan,
Ian McNabb, If I Were King, The Infections, Inspiral Carpets, Jack Roberts, Jan Johnson, Jazz Kooner, Jimmy Rae, Joanna McGreggor, Jill Jones,
John Butler, John Martyn, John Murphy, Jo Cang, Keiko, Killing Joke, K-Klass, Kings of Convienience, Kings of Infinite Space, L20, The Laze,
Lightning Seeds, Lionrock, Listening Pool, Liverpool Football Club, Liverpool MVC, Lobster, Longview, Love Like Blood, Llanddulas M.V.C.,
Lucid, MN8, Machinehead, Manbreak, Manmade, Mansun, Marillion, Mike Marconi, Mark Owen, The Master Singers, Mat Turner, Medusa’s Spite,
Maya, Mew, Michelle Gayle, Mike Peters, Miriam Lamen, Moby, Monoco, MULU, My Red Cell, Mystic Meg, My Vitriol, Molly Half Head, Napalm
Death, Neville Skelly, New England, New Model Army, New Order, The North, Nowhere Near the Garden, N-Trance, N-Trust, Oceanic, Oleta
Adams, OMD, One Minute Silence, Ooberman, Osun Arts Foundation, Other Side of Sound, Paolo Nutini, Paul Cooper, Pele, Pete Wylie,
Pinhole, Pitchshifters, Power Junkies, Pride, Pulp, Pure Essence, The Quarrymen, Q-Stix, Quest, Rail Town Bottlers, Rain, Real People, Ricky
Thomlinson, River City People, Roberto DaNova, Rooster, Royal Philharmonic Orchestra, Roy "Chubby" Brown, Russell Watson, Ryan Carter,
Sandi Thom, Saxon, Scaffold, Scorpio Rising, The Sessions, 747's, Shed Seven, Simon Wilcox , Simply Red, Sister Soleil, Skin, Skinlab,
Skyscraper, Sleeper, Small, Snow Patrol, Sophie Ellis Baxter, Soul Symphony, Space, Speedball, Spice Girls, Space Monkeys, Starsailor,
Stephen Triffet, Stick Boy, Straight Jacket Fits, The Stands, Super Furry Animals, Sussed, Stereolabs, Stereophonics, Stone Roses, The
Stranglers, Supernaturals, Take That, Terror Vision, Thea Gilmore, The Embassy, Teenage Fanclub, ThisWay, Gavin Thorpe, Total Chaos, Tour
De Force, Uncut, Vanessa Brown, Velvet Jones, Verve, Voy, Waikiki, The Wedding Present, Wireless, Witness, Whatever, Wildhearts, Year Zero
and many more...
2
Recorded at Parr Street…
Mixed Use Investment Opportunity
Business Unaffected
Freehold together with Hotel Business & Tenant Rental
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20,000 sq ft /1,858 sq m
18 bedroom hotel
2 award winning bars & event venues
10 offices
7 space car park
2 fully equipped recording studios
Collector items
Prominent City Centre Position
Potential to Expand
Close to Liverpool ONE, Chinatown, Restaurants, Bars,
Colleges and Universities
For sales enquiries please contact:
The sale of the freehold of Parr Street Studios is being handled
by joint sales agents:-
parr street studios
and hotel
the home of coldplay’s first 3 albums
Hotel
….............................
Bars
….............................
Offices
….............................
Recording Studios
Parr Street Studios Limited
33-45 Parr Street
Liverpool
United Kingdom
L1 4JN
www.parrstreet.co.uk
Online Sales info: www.parrstreet.co.uk/ParrSt/Preview.htm
Freehold for Sale
Andrew Moore, GVA Hotels and Leisure
81 Fountain Street, Manchester, M2 2EE
Direct Dial: +44(0)161 956 4024
Mobile:
+44(0)7920 824280
Email:
andrew.moore@gva.co.uk
Reference: 4704
Andrew Owen of Mason Owen
Gladstone House, Union Court, Liverpool L2 4UQ
Direct Dial: +44(0)151 242 3120
Mobile:
+44(0)7798 576789
Email:
andrew.owen@masonowen.com
For press enquiries please contact:
For all media enquiries relating to the sale of Parr Street
Studios, please contact Jayne Moore on +44 (0)7773 846962
or by email at jayne.moore@gmail.com
3
Parr Street Studios
Sales Particulars
22
Index…..
5
Sales Summary
7
Hotel
Parr Street Studios is still a thriving recording studio, but has
been expanded to include a boutique 12-bedroom hotel - 3
twins, 8 doubles and a 1 triple.
10
PodZzz
A concept developed by Gary Millar, PodZzz offer inventive,
futuristic accommodation within Liverpool’s Parr Street
Studios. Compact and stylish, each pod features an LED TV.
There are 5 single PodZzz and 1 double Love PodZzz. The
Hotel is operated by Parr Street Studios Ltd.
15
The Attic Bar
Previously called 3345 the Attic lounge bar and restaurant is
a central social oasis designed for creative's and their
friends..
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19
4
STUDIO2
Independent Magazine's "Top 50 Best Bar" and Theme
Magazine "Best Bar Design" finalist. Has been bar of the
month twice in the BBC Good Food Guide's OLIVE Magazine
and ESQUIRE Magazine. Also hosts ParrJazz - the region’s
best known jazz night residency.
Offices for Rental
Parr Street Studios has 10 offices rented on a month to month
basis. From 2 small offices on the ground floor, to the famous
“Lock Stock & Two Smoking Barrels” Studio 4 on the first floor
and 7 offices on the top floor there is something to suit all
budgets and dimensions.
24
26
Studio 1
Studio 1 is based around a Neve VR60 Legend, recording to
Studer 2” or Pro Tools HD. It’s fully equipped with an exquisite
selection of outboard and microphones, but what makes it
stand out from the crowd is the huge live room with natural
light, great sounding stone room, amp room with boutique
guitar amps, Yamaha C3 grand piano, Hammond B3 and
EMT 140 plate reverb. Studio 1 has its own lounge and kitchen.
Studio 3
Studio 3 is famous for being the room where Chris Martin
wrote ‘The Scientist’, and Coldplay recorded most of their
debut album ‘Parachutes’. It’s got a fantastic creative vibe
and quick workflow, making it ideal for writing and demo-ing
new songs. The upright piano and selection of vintage instruments definitely make it the musicians choice - and with a full
Pro Tools HD system, huge mic collection, and newly installed
British-built Audient ASP8024-24 console - engineers and
producers love it to.
About The Area/Location
Parr Street Studios and Hotel is located at 33-45 Parr Street
in Liverpool's up-and-coming Ropewalks area. Positioned
close to Liverpool Lime Street Station, Central Stations and
Liverpool John Lennon Airport and just over two hours from
London by train
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Core Income & Overheads
28
Terms/Viewing
Table of Contents
parr street studios
and hotel
the home of coldplay’s first 3 albums
Hotel
….............................
Bars
….............................
Offices
….............................
Recording Studios
Iconic Liverpool Recording Studios and Hotel Up For Sale
Of all UK cities, Liverpool has generated the most number one hit records on the pop charts and, now, an
important part of its musical heritage – the iconic Parr Street Studios and Hotel - is up for sale. With a
fascinating history, the studios have been frequented by a plethora of famous recording artists, and Phil
Collins was once a part-owner of the building. The current investment opportunity will enable the legacy of
Parr Street to continue into the future, under new ownership. It is being sold as an entire unit with existing
long-term leases in place for the two recording studios and two bars. Its value as an investment can be
increased by expanding the hotel part of the building without affecting the bars or studios. As you can see
on page 2 and during the last few decades, Parr Street Studios have been used by an impressive list of
recording artists.
Despite the continuing grip of the recession, Parr Street Studios and Hotel is being sold as a successful,
on-going concern. Back in 2005, plans were afoot to convert the building into luxury apartments when the
then owners – including Phil Collins – decided to sell it. In 2006, the building was rescued by Gary Millar,
Steve Macfarlane and Thomas Lang but now it’s time for this trio to move on, as part of an agreed five-year
plan which involved the successful introduction of new office space, the hotel, the PodZzz and the second
bar.
Size. Offering over 20,000 square feet/1,858 square metres, freehold, the property brings a ready-made
business with a renowned brand; a cool city centre creative and music venue, two Grammy Award-winning,
fully-equipped recording studios; two award-winning bars and event venues (namely The Attic and
STUDIO2); 10 offices; a car park; an 18-bedroom ‘hip’ hotel; and serious music based collector items.
Location. Built as commercial premises in the 1930s, Parr Street Studios and Hotel is located at 33-45
Parr Street in Liverpool's up-and-coming Ropewalks area. Positioned close to Liverpool Lime Street
Station, Central Stations and Liverpool John Lennon Airport and just over two hours from London by train,
the property presents considerable commercial potential as a venue, accommodation option and creative
space.
Offers in excess of £1.9 million will be considered and interest is expected from the UK, US, China,
Hong Kong and the Middle East.
For viewing and agency details please read page 3
Sale Overview
5
parr street studios
and hotel
the home of coldplay’s first 3 albums
Hotel
….............................
Bars
….............................
Offices
….............................
Recording Studios
Iconic Liverpool Recording Studios and Hotel Up For Sale
Music Heritage. It has a long history associated with Liverpool’s thriving music scene. Known for its
musical heritage, Liverpool is the commercial, educational and cultural capital of the Merseyside sub-region
and is the second largest city in the North West of England. It was awarded the accolade of ‘European
Capital of Culture’ for 2008. Liverpool is home to Sound City, Mathew Street Festival, Liverpool Music
Week, Beatles Story, The Cavern Club, Elevator Studios, Deltasonic, Cream, Epstein Theatre and is being
considered by UNESCO for its Creative Cities title, ‘City of Music’.
Collectors will enjoy the fact that the sale includes the piano used to compose and record Coldplay’s
’Trouble’ track – complete with Chris Martin graffiti. Also included are four original prototype Quested main
system monitors in Studio 1 and Studio 2.
CEO Gary Millar says: “We are seeking buyers who, like us, will be sympathetic to the nature of the building
and its tenants. We have done what we can in the last six years and now it’s time for someone else to take
Parr Street Studios to its next exciting level.”
Commenting on the sale, Andrew Moore, Associate, Hotels and Leisure, GVA, said: “To be involved in the
sale of Parr Street Studios and Hotel is an exciting opportunity for GVA. Alongside the interesting collectors’
items included in the sale, the purchaser will benefit from an investment income together with an opportunity to run the hotel or lease it out for further investment income, and a piece of Liverpool’s musical heritage
in what is an eclectic mix of uses within the property.”
Andrew Owen, head of Business Space at property agency, Mason Owen, adds: “The purchaser has an
outstanding opportunity to expand Parr Street Studio’s hotel, hospitality and office business - or simply to
walk into a ready-made, multi-faceted and well-known business.”
Offers in excess of £1.9 million will be considered and interest is expected from the UK, US, China,
Hong Kong and the Middle East.
For viewing and agency details please read page 3
6
Sales Overview
Although Parr Street Studios is still a thriving recording studio it has since expanded
to include a boutique 12-bedroom hotel (the bedrooms are large and include twins,
doubles and one triple). All 12 bedrooms are funky, warm & modern. Each room has
plates, bowls, cups, cutlery and a paid mini-bar. To keep rates low we do not offer offer
breakfast but are more than happy to organise a breakfast tray.
The hotel has been designed by co-owner Gary Millar and is described by the press
as 4 star. First impressions are "WOW" and the beds, NASA inspired memory
mattresses and funky showers have been a unanimous and resounding success!
Hotel
7
The hotel has one triple bedroom that sleeps up to 3 people. There are also 3 twin rooms sleeping up to 2 people in each and 8 double rooms
sleeping up to 2 in each. The hotel sleeps up to 25 people at any one time - plus 5 in the single PodZzz and up to 2 in the double PodZzz on the
lower Mezzanine Floor of Parr Street Studios.
The hotel bathrooms are fitted with showers
and have either dual or single wash basins.
The design is predominantly white with
chrome fittings and black and white tiled
flooring.
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Hotel
9
Hotel Floorplan
PodZzz offer inventive, futuristic accommodation within Liverpool’s Parr Street Studios
(just above the ground floor), with our award-winning bars, restaurant, and recording
studio. Compact and stylish, each pod features an LED TV. Each colourful pod is fully
soundproofed and comes with free Wi-Fi access and tea/coffee facilities. 5 funky
single mini-bedrooms (these are about the same dimensions as a caravan bedroom).
The 1 double mini-bedroom - called the Love PodZzz is larger and contains a double
bed, clothes hangers and a small table.
PodZzz is fully operated by Parr Street Studios Ltd with an estimated income of
between £18,000 and £60,000 a year (plus VAT and subject to occupancy levels).
PodZzz - Sleepovers Welcome
10
PodZzz offer inventive, futuristic accommodation within Liverpool’s Parr Street Studios (just above the ground floor), with our award-winning bars,
restaurant, and recording studio. Compact and stylish, each pod features an LED TV. Each colourful pod is fully soundproofed and comes with
free Wi-Fi access and tea/coffee facilities. 5 funky single mini-bedrooms (these are about the same dimensions as a caravan bedroom). The 1
double mini-bedroom - called the Love PodZzz is larger and contains a double bed, clothes hangers and a small table.
PodZzz is fully operated by Parr Street Studios Ltd with an estimated income of between £18,000 and £60,000 a year (plus VAT and
subject to occupancy levels).
Single PodZzz Details
Love PodZzz Details
Room Facilities: Air Circulation, Carpeted
Floor, Small Desk, Soundproofing, Shared
Bathroom, Shared Toilet, LCD Flat-screen TV
& Electric Kettle
Room Facilities: as per the single PodZzz
● Room Size: 3.75 square metres
● Bed Size: 1 Single (sleeps 1)
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● Room Size: 5 square metres
● Bed Size: 1 Double (sleeps 1 or 2)
PodZzz Showers
There are 2 separate showers and washing
facilities for the use of the 6 pods. They are
located directly opposite the 5 single PodZzz
and 1 double Love PodZzz
PodZzz - Sleepovers Welcome
12
PodZzz - Sleepovers Welcome
PodZzz - Sleepovers Welcome
13
There are 2 award winning tenant run bars within Parr Street Studios. The newest is the fantastically laid back and relaxed “The Attic” - the
exciting recreation of a bigger 3345 re-opened in March 2012. The other is STUDIO2 open from noon until late 7 days a week. Independent
Magazine's "Top 50 Best Bar" and Theme Magazine "Best Bar Design" finalist.
STUDIO2 at Parr Street is still Liverpool's best kept secret. Yet, its been bar of the month twice in the BBC Good Food Guide's OLIVE Magazine
and ESQUIRE Magazine.
Also, the Independent Magazine twice reported that STUDIO2 is one of the UK's "Top 50 Bars". STUDIO2 was also finalist for Theme Magazine's
"Best Bar Design" - a design by co-owner Gary Millar.
14
Tenanted Bars
There are 2 award winning tenant run bars within Parr Street Studios. The newest is the fantastically laid back and relaxed “The Attic” - the
exciting recreation of a bigger 3345 re-opened in March 2012.
The Attic lounge bar and restaurant is a central social oasis designed for creative's and situated in the heart of Liverpool city centre and housed
inside the famous Parr street recording studios. Previously called 3345 and regularly referred to as the epicentre of the Liverpool music scene
they see themselves as a warm, welcoming and intimate establishment .
The Attic is based on the first floor of Parr Street Studios and access is via its own entrance or by using a lift accessed via the main reception of
Parr Street Studios.
The Attic is a tenant business bringing in an income of £34,000 plus VAT a year.
The Attic is the exciting recreation of a bigger 3345 re-opened following a major refurbishment in March 2012.
This bar and also STUDIO2 on the ground floor of Parr Street Studios are both tenanted bars. The Attic has over 9 years remaining on its FRI
lease and brings in an annual rental income of £34,000 (excluding VAT). The tenancy is protected and unaffected by any sale of the freehold of
Parr Street Studios. The tenant is responsible for their own non-domestic rates “business rates”.
Bars - The Attic Liverpool
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STUDIO2 is open from noon until late 7 days a week. Independent Magazine's "Top 50 Best Bar" and Theme Magazine "Best Bar Design" finalist.
STUDIO2 at Parr Street is still Liverpool's best kept secret. Yet, its been bar of the month twice in the BBC Good Food Guide's OLIVE Magazine
and ESQUIRE Magazine.
Also, the Independent Magazine twice reported that STUDIO2 is one of the UK's "Top 50 Bars". STUDIO2 was also finalist for Theme Magazine's
"Best Bar Design" - a design by co-owner Gary Millar.
STUDIO2 is a tenant business bringing in an income of £41,600 plus VAT a year.
STUDIO2 is the exciting refurbishment of what was a large and surplus recording studio opened in October 2008. Parr Street co-owner Gary
Millar is responsible for the bars design and concept.
This bar and also The Attic on the first floor of Parr Street Studios are both tenanted bars. The FRI lease on STUDIO2 is currently being
renegotiated and brings in an annual rental income of £41,600 (excluding VAT). Once the lease is in place the tenancy will be protected and
unaffected by any sale of the freehold of Parr Street Studios. The tenant is responsible for their own non-domestic rates “business rates”.
STUDIO2 is based on the ground floor of Parr Street Studios and access is via its own entrance or via the main reception of Parr Street Studios.
It has a main room, a bar (the Mixing Room), the stone room, the squishy squashy room (shown here), a kitchen, upstairs storage and “cellar”
16
Bars - STUDIO2
STUDIO2 is a large space of over 3300 square feet on the ground floor of Parr Street
Studios and also has in excess another 600 square feet of storage and drinks cooler
space on its own Mezzanine Floor with access via the kitchen area and directly above
the bar and kitchen.
Bars - STUDIO2
17
Layout of STUDIO2
Rental Income £41,600 per annum
18
Bars - STUDIO2 Floorplan
Parr Street Studios has 10 offices rented on a month to month basis. From 2 small offices on the ground floor, to the famous “Lock Stock & Two
Smoking Barrels” Studio 4 on the first floor and 7 offices on the top floor there is something to suit all budgets and dimensions.
Offices for Rental
19
Parr Street Studios has 10 offices rented on a
month to month basis. From 2 small offices on the
ground floor, to the famous “Lock Stock & Two
Smoking Barrels” Studio 4 on the first floor and 7
offices on the top floor there is something to suit all
budgets and dimensions.
24/7 Access
Unusually for a city centre office base, secure access
is available 24 hours a day, 7 days a week for most of
the year. Most other offices limit access to 8am to
6pm so you have the added bonus of double the
availability for a low cost rental price.
Offices
3rd Floor
3F1
3F2
3F3
3F5
3F6
3F7
3F8
Ground
GF1
GF2
First
Studio 4
Rent PA
Suit Desks
Tenant
Type
Vacant
SSE
Parr Street Music School
3Beat Music
Vacant
Plast-c Design
Vacant
License
License
License
License
License
License
License
4 or 5
4 or 5
3
3
4 or 5
4 or 5
3
£4,800
£4,800
£4,200
£4,800
£5,400
£5,200
£4,560
Rooftop Audio
Vacant
License
License
2
2
£2,400
£2,640
Ace Films
License
6 or 7
£5,400
£44,200
Total
Plus VAT
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Offices for Rental
Studio 4 on the first floor has 3 adjoining offices that suits up to 7 desks, whilst all other
single unit offices suit 1 to 5 desks. Each are rented on an “easy-in easy-out” month
to month license basis - each attracts an additional service charge fee of 10%.
Offices to Rent
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Studio 1 is based around a Neve VR60 Legend, recording to Studer 2” or Protools HD. It’s fully equipped with an exquisite selection of outboard
and microphones, but what makes it stand out from the crowd is the huge live room with natural light, great sounding stone room, amp room with
boutique guitar amps, Yamaha C3 grand piano, Hammond B3 and EMT 140 plate reverb. Studio 1 has its own lounge and kitchen and is just 20
yards from the nearest bar - the converted and iconic Studio 2.
Studio 1 is a tenant business bringing in an income of £35,000 plus VAT a year. The rent includes the recording studios equipment,
most of which is owned by Parr Street Studios Limited.
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Recording Studio 1
Equipment & Layout of Studio 1
Console:
Neve VR60 Legend
Monitoring:
Quested HM415
Genelec 1031A
Yamaha NS10
Auratone
Beyer DT100’s
Recording:
2 x Studer A827 24-track 2” tape machines
Studer A800 1/4” mastering machine
Protools HD system
Apogee Rosetta 800 AD & DA conversion
Dynamics/EQ:
dBx 160A (x2)
Drawmer 1960
Drawmer DS201 (x2)
GML 8200
TLA C1
Tubetech CL1B
Tubetech PE1C
Tubetech ME1B
Urei 1176
Urei 1178
Urei LA-4A
23
Reverb/FX:
Alesis Quadreverb
AMS RMX16
AMS DMX1580S
Bel Flanger
EMT 140 plate reverb
Lexicon 480L
Lexicon PCM81
The Panscan
Roland SDE-300
Roland Chorus Echo
Roland Space Echo
Selection of Radial & EMO DI Boxes
Microphones:
AKG D12
AKG D112
AKG C414 - EB
AKG C414B - ULS
AKG 451E
AKG 451C
Audix D6
Coles 4038
DPA 4006
Earthworks QTC1 (matched pair)
Neumann U47 FET
Neumann U87
Neumann M269
Neumann KM84
Neumann KM184
Neumann KM86
Neumann TLM49
Sennheiser MD421
Shure SM58
Shure SM57
Instruments:
Yamaha C3 Grand
Hammond B3
Selection of Leslie Speakers
Fender Rhodes
Wurlitzer
Marshall JCM800 stack
Vox AC30
Vox AC15
Kustom amp
Percussion Box
Ludwig (endorsed) drum kit
Yamaha Stage Custom drum kit
Rental Income £35,000 per annum
Recording Studio 1
Studio 3 is famous for being the room where Chris Martin wrote ‘The Scientist’, and Coldplay recorded most of their debut album ‘Parachutes’.
It’s got a fantastic creative vibe and quick workflow, making it ideal for writing and demo-ing new songs. The upright piano and selection of vintage
instruments definitely make it the musicians choice - and with a full Pro Tools HD system, huge mic collection, and newly installed British-built
Audient ASP8024-24 console - engineers and producers love it too.
Studio 3 is a tenant business bringing in an income of £16,000 plus VAT a year. The rent includes the recording studios equipment,
most of which is owned by Parr Street Studios Limited.
Recording Studio 3
24
Equipment & Layout of Studio 3
Console:
Audient ASP 8024-24
Monitoring:
Quested VH3208
Genelec 1031A
Yamaha NS10
Beyer DT100’s
Recording:
Protools HD System
Pre’s/Dynamics/EQ:
Avalon 737
dBx 160A (x2)
Drawmer DL221 (x1)
Drawmer DS201 (x3)
Focusrite Red 8
GML Compressor
TLA C1
TLA 2001
Urei 1178
Selection of Radial & EMO DI Boxes
Microphones:
AKG D12
AKG D112
AKG C414 - EB
AKG C414B - ULS
AKG 451E
AKG 451C
Audix D6
Coles 4038
DPA 4006
Earthworks QTC1 (matched pair)
Neumann U47 FET
Neumann U87
Neumann M269
Neumann KM84
Neumann KM184
Neumann KM86
Sennheiser MD421
Sennheiser E604
Shure SM58
Shure SM57
Instruments:
Bachmann Upright Piano
Roland VK8
Fender Rhodes ’73
Marshall JCM800 stack
Vox AC30
Vox AC15
Percussion Box
Ludwig (endorsed) drum kit
Yamaha Stage Custom drum kit
Vintage premier drum kit
Recording Studio 1
Rental Income £16,000 per annum
25
Liverpool is the commercial, educational and cultural capital of the
Merseyside sub-region with a residential population in the Merseyside
area of 1.4 million people and a City population in excess of 430,000
people. Liverpool is the second largest City in the North West of
England located 56km (35 miles) west of Manchester and 31 km (19
miles) north of Chester. The City was awarded European Capital of
Culture for 2008 and is a UNESCO World Heritage Site as a Maritime
Mercantile City sharing this status with 850 other cultural and natural
World Heritage sites which include The Great Wall of China and the
Pyramids of Giza. Liverpool has a glorious maritime history, worldbeating musical heritage, two of the Premiership’s biggest football
teams in Liverpool FC and Everton FC and not one, but two majestically
different Cathedrals. The surrounding City region is also home to
England’s Golf Coast, the finest stretch of championship golf in the
world, with no fewer than three Royal Links courses which have hosted
numerous Open Championships and Ryder Cups. These include Royal
Birkdale in Southport and Royal Liverpool at Hoylake on the Wirral only
a few miles from Liverpool City Centre. In addition to soccer and golf,
Liverpool hosts the world-famous John Smith’s Grand National each
year at its Aintree Racecourse, with another first class race course at
Haydock Park. The Liverpool sport scene also includes rugby, with a
strong Rugby League following for St Helens Rugby and the Widnes
Vikings, two of the sport’s oldest teams. Liverpool has one of the most
famous and instantly recognisable waterfronts in the World and waterskiing and sailing is available at Queen’s Dock right beside the River
Mersey and top-flight tennis can be seen at Liverpool’s Annual
International Tennis Tournament.
26
In the past decade there has been considerable diversity in industrial,
manufacturing and service sectors within the City and major companies
with Headquarter buildings in the City include Royal & Sun Alliance,
KPMG, Ford/Jaguar, Pilkington, Bibby Lyon, Royal Liver and QVC.
Major call centre companies such as BT, US Airways, Swiss Life and
Capital Bank are based in the area. The Port of Liverpool handles circa
30 million tonnes of freight per annum and is a major UK Port for trade
with North America. The City has three Universities within its’
boundaries and another within a few miles and several colleges of
further education have swelled the student population of Liverpool to
53,000 and this represents a growing economic sector within the City.
The John Lennon Airport at Speke is located 10km South East of the
City Centre providing national and international destinations with over
5million passengers using the airport in 2010. Manchester Airport is 56
km West of Liverpool City Centre. Major Motorways, M62, M58, M57
and M53 link the City to the national motorway network to the North East
and West of the City Centre and are all accessible within 9 km.
About the Area/Location
Tenancy Agreements
Parr Street Studios Limited is a landlord and also a
hotel operator. As landlord there are 10 offices for
rent, plus 2 bars & 2 recording studios.
Full Repairing & Insured Leases
There are 4 FRI leases in place - including the Attic
Bar & Restaurant, STUDIO2 Bar & Live Music Venue
& two of the remaining and largest of the recording
studios (Studios 1 and 3). The total annual rental
income for these FRI Leases is £126,600 (plus VAT)
Licences
There are 10 offices where a licence applies rather
than an FRI lease. When all offices are rented the
total annual Licence income would be £44,200.
Hotel
The average annual Hotel income is £150,000 (plus
VAT) with capacity to increase the hotel income by
another £60,000 to £100,000. Therefore, a purchaser
could except the Hotel to achieve a sales turnover of
£210,000 to £250,000 per annum based on full
occupancy levels.
PodZzz
The PodZzz were built as an experimental concept in
March 2011 to replace 2 under used offices on the
mezzanine floor. Instead of achieving an office rent of
less than £400 a month the same space is now
achieving an average income of £1500 (plus VAT)
each month. However, the PodZzz have the capacity
to achieve a sales turnover of up to £5000 a month at
full occupancy levels.
Core Income
Start Date End Date
Type
FRI Lease 01/08/2006 31/07/2021
FRI Lease 01/05/2012 30/04/2022
Bars
Annual
£34,000
£41,600
£75,600
FRI Lease 01/06/2009 31/05/2014
FRI Lease 10/06/2009 31/05/2014
Studios
Suit Desks
4 or 5
License
Vacant
4 or 5
License
SSE
3
Parr Street Music School License
3
License
3Beat Music
4 or 5
License
Vacant
4 or 5
License
Plast-c Design
3
License
Vacant
2
License
Rooftop Audio
2
License
Vacant
6 or 7
License
Ace Films
Offices
Total Rent
£35,000
£16,000
£51,000
Company
Bars
The Attic The Attic
STUDIO2 The Unwind Lounge
Studios
Studio 1
Studio 3
Offices
SF1
SF2
SF3
SF5
SF6
SF7
SF8
GF1
GF2
Studio 4
Beatmatch Productions
Beatmatch Productions
Hotel
PodZzz
£4,800
£4,800
£4,200
£4,800
£5,400
£5,200
£4,560
£2,400
£2,640
£5,400
£44,200
£170,800
plus
£150-250,000
£18-60,000
sales turnover
per annum
27
Mixed Use Investment Opportunity
Business Unaffected
Freehold together with Hotel Business & Tenant Rental
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20,000 sq ft / 1,858 sq m
18 bedroom hotel
2 award winning bars & event venues
10 offices
7 space car park
2 fully equipped recording studios
Collector items
Prominent City Centre Position
Potential to Expand
Close to Liverpool ONE, Chinatown, Restaurants, Bars,
Colleges and Universities
For sales enquiries please contact:
The sale of the freehold of Parr Street Studios is being handled
by joint sales agents:-
parr street studios
and hotel
the home of coldplay’s first 3 albums
Hotel
….............................
Bars
….............................
Offices
….............................
Recording Studios
Misrepresentation Act 1967
These details are provided only as a general
guide to what is being offered subject to
contract and subject to lease being available
and are not intended to be construed as
containing any representation of fact upon
which any interested party is entitled to rely.
Other than this general guide neither we nor
any person in our employ has any authority to
make, give or imply any representation or
warranty whatsoever relating to the properties
in these details. April 2012
VAT
All figures quoted are exclusive of but may be
liable to VAT.
Viewing
Strictly by appointment only with the agents.
Online Sales info: www.parrstreet.co.uk/ParrSt/Preview.htm
28
Andrew Moore, GVA Hotels and Leisure
81 Fountain Street, Manchester, M2 2EE
Direct Dial: +44(0)161 956 4024
Mobile:
+44(0)7920 824280
Email:
andrew.moore@gva.co.uk
Reference: 4704
Andrew Owen of Mason Owen
Gladstone House, Union Court, Liverpool L2 4UQ
Direct Dial: +44(0)151 242 3120
Mobile:
+44(0)7798 576789
Email:
andrew.owen@masonowen.com
For press enquiries please contact:
For all media enquiries relating to the sale of Parr Street
Studios, please contact Jayne Moore on +44 (0)7773 846962
or by email at jayne.moore@gmail.com
Freehold for Sale: Terms