for sale - trading nightclubs on behalf of luminar leisure · gerald eve llp is pleased to offer...
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TRADING NIGHTCLUBSON BEHALF OF LUMINAR LEISUREFOR SALE
Gerald Eve LLP is pleased to offer for sale four trading nightclubson behalf of Luminar Leisure. They are available individually, or as apackage and will be sold as transfers of going concerns. The nightclubs on offer include one freehold property and threeleasehold properties. Guide prices are available on request.
Please contact Chris Ford, Daniel Anning or Fergus Jagger formore information, or to discuss viewing arrangements.
Contact details
Chris [email protected]. 020 7333 6366Mobile 07836 696530
Daniel [email protected]. 020 7333 6374Mobile 07776 161821
Fergus [email protected]. 020 7653 6831Mobile 07787 558756
PROSPECTIVE PURCHASERS SHOULD NOT APPROACH OR DISCUSS DETAILS REGARDING THESALE OF ANY PROPERTY WITH THE MANAGER OR CLUB STAFF.
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LocationOn the southern side of Birmingham city centre, on the edge of China Town, and close toBirmingham Hippodrome. Opposite Circus Casino. An area predominantly occupied byclubs, bars and restaurants. Approximately five minutes walk from New Street station andthe Bull Ring. Nearby hotels include Holiday Inn and Radisson Blu.
DescriptionThe 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 undera flat roof. The main entrance to Oceana fronts on to Hurst Street. A second entrance tothe Disco is from Smallbrook Queensway. Servicing is via a yard to the rear of the frontground floor part of the demised premises. Part of the roof area provides a smoking terraceand houses air conditioning plant and equipment.
AccommodationA multi-room nightclub. The front feeder bar on Hurst Street is arranged on ground andupper floor levels with access to basement WCs and the main night club. A central corridorthrough the basement provides circulation and access to six themed club rooms –Wakyama, Ski Lodge, Monte Carlo, Boudoir, Ice House and Disco. In addition there arethree VIP suites. The club has good provision of customer toilets, staff rooms, offices,kitchens, stores cellarage and other back of house facilities.
Floor areasThe ground floor extends to 5,220 sq ft (484.95 sq m) and the basement provides 40,622sq ft (3,773.90 sq m) of which 34,261sq ft (3,182.95 sq m) is laid out for club use.
Floor to ceiling heightsGround floor front bar area 3.94 m maxBasement 2.41 m but Ice House dance floor 5.23 m, Disco 2.55 m
TenureLeasehold by way of six separate leases/ licences with the main leases expiring in 2059and the next rent reviews in 2023 and 2024. Two other shorter leases of parts of thepremises expire in 2021.
RentThe current passing rents total £347,169.92. Annual service charge and landlord’sinsurance premium to be confirmed.
2010 RV £400,000
LicensingOpens 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
£ Y/E March 2008 Y/E March 2009 Y/E March 2010 MAT August 2010
Sales 4,239,636 3,540,490 2,293,467 1,993,599
Premium offers invited. Guide price on application
Please contact:
Chris [email protected]. 020 7333 6366 Mobile 07836 696 530
• within established club and bar area
• close to Bull Ring and New Street station
• large modern multi room club
• large ground floor feeder bar
• close to China quarter
• 3,290 capacity
BIRMINGHAM – OCEANA NIGHTCLUB
HURST STREET, B5 4AS
LocationTo the north of the town centre shopping area. The building fronts the pavement on twosides at the traffic light junction of Bridge Street and St Georges Road and adjoins a publicmulti storey car park and the Market Place Shopping Centre. There is a Holiday Innopposite and Mint casino.
DescriptionA large corner property originally built as the Palais de Danse, Bolton in the 1920’s. It isarranged on ground, mezzanine and basement levels. It is constructed of brick, partrendered part clad under a pitched roof with certain areas of flat roofing
AccommodationThe main corner entrance leads to the main Ikon club with pay desk and cloakroom at theentrance, 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 WCsoff to the right and a second bar servery down the left hand side. There is a stage at the farend and access to the side through to a rear court yard for smokers. Stairs lead up to amezzanine level which overlooks the dance floor. There is a third bar servery at this leveland 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 – formerlyJumping Jaks – comprises a pay desk, three bar serveries, ladies and gents WCs. There isrear access to the external smoking area and delivery doors to the beer cellar accessedfrom the side and rear of the property.
Floor areas 26,791 sq ft (2,489 sq m)
Floor to ceiling heightsGround floor front bar area 2.17 m Dance floor 5.45 mMezzanine 2.63 mBasment 2.8 m max
TenureFreehold, but subject to a five year lease of land for escape routes, smoking solutions andbeer storage and a Licence which expires in 2013 to use the side alley for access and fireescape purposes.
RentCurrent rents and licence fees total £5,202 p.a.
2010 RV £64,000
LicensingCurrently opens Thursday 10.30pm – 2.00am Friday 10.30pm – 3.30am and Saturday10.30pm – 4.00am. Licensed seven days a week 11.00am to 04.00am. There are separatePremises Licences for Ikon and for Jaxx.
Trading
£ Y/E March 2008 Y/E March 2009 Y/E March 2010 MAT August 2010
Sales 2,005,449 1,974,140 1,212,604 778,710
Offers Invited. Guide price on application
Please contact:
Chris [email protected]. 020 7333 6366 Mobile 07836 696 530
• prominent corner site
• large venue over three levels
• unbranded Ikon nightclub
• Jaxx ready for investment
• 2,540 capacity
BOLTON – IKON & JAXX NIGHTCLUB
BRIDGE STREET, BL1 2ED
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LocationThe 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 withinRomford’s evening entertainment circuit. Immediate occupiers include two Wetherspoonoutlets, McDonald’s and a substantial Liquid and Envy nightclub opposite.
DescriptionOriginally a post office, the property has attractive brick built external elevations and ishighly 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 alengthy return frontage to Eastern Road. Part of the return frontage benefits from full heightfenestration to the ground floor bar. The elevations have feature brick detailing under a partpitched tiled roof.
AccommodationThe club is arranged principally over ground and first floors with mezzanineaccommodation providing washroom facilities and a rear basement area affording storagefacilities. There is cellar, storage and trade kitchen facilities provided at ground floor level atthe rear of the building. Two bars are situated at ground floor level and the first floor isaccessed via a feature staircase. A club room, dance floor and two bars are provided atfirst floor level together with additional washroom facilities. Staff and office accommodationis situated at first floor level at the front of the building. There are no external smokingfacilities.
Floor areas 11,034 sq ft (1,025 sq m)
Floor to ceiling heightsThe ground floor bar has a floor to ceiling height of circa 3.95 m and the first floor clubroom and dance floor has a floor to ceiling height of circa 2.50 m.
TenureThe premises are held on full repairing and insuring lease terms expiring on 13 November2022.
RentThe current passing rental is £160,000 per annum.
2010 RV £142,000
LicensingThe club currently opens Tuesday, Friday and Saturday from 8.00pm to 1.30am. The PremisesLicence permitted opening hours are from 11.00am to 2.00am s.t.p.
Trading
£ Y/E March 2008 Y/E March 2009 Y/E March 2010 MAT August 2010
Sales 1,284,235 858,529 685,959 491,801
Premium and Rental Offers Invited
Please contact:
Chris Ford Daniel [email protected] [email protected]. 020 7333 6366 Tel. 020 7333 6374Mobile 07836 696 530 Mobile 07776 161 821
• town centre location within entertainment circuit
• opposite to Romford railway station
• prominent corner building
• unbranded club arranged over two floors
• 600 capacity
ROMFORD – ONE THREE ONE NIGHTCLUB
131 SOUTH STREET RM1 1NX
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LocationKingston upon Thames is situated to the southwest of London on the A308, accessiblefrom the M3 which links central London with the M25.
The premises are located at the southern edge of the town centre, close to the Eden Walkshopping centre and city centre bars and restaurants. There is public car parking nearby,as is the railway station about five minutes to the north.
DescriptionA large self contained property built in the late 1980s and arranged over ground and firstfloors.
AccommodationThe 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 occupiesthe centre of the floor with three bars, soft seating / standing areas and WC’s locatedaround the perimeter.
To the left of the main entrance at the front of the building is a second club entranceleading 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 thesmoking area.
At first floor level viewing balconies over the central ground floor dance area are providedwith a hot food servery and kitchen, WCs, three bars and back office facilities locatedaround 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.
Floor areasApprox 40,000 sq ft (3,716 sq m)
Floor to ceiling heightsDouble height ground floor dance area – 10 m.
TenureThe property is held on a Full Repairing and Insuring 25 year lease commencing 26 May2005 with a Landlord’s option to determine 26 May 2020.
RentThe current passing rental is £300,000 per annum (subject to an outstanding rent reviewMay 2010). Annual service charge and landlord’s insurance premium to be confirmed.
2010 RV £350,000
LicensingCurrently opens Thursday 9pm to 2am, Friday 9pm to 3am and Saturday 10pm to 3am.Licensed seven days a week 11am to 4am
Trading
£ Y/E March 2008 Y/E March 2009 Y/E March 2010 MAT August 2010
Sales 2,986,276 645,138 428,263 929,825Full year Part year Part year 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 Chris [email protected] [email protected]. 020 7653 6831 Tel. 020 7333 6366 Mobile 07787 558756 Mobile 07836 696530
• university town
• affluent southwest London suburb
• modern purpose-built premises
• town centre location
• capacity 2,250
KINGSTON – HIPPODROME NIGHTCLUB
1 ST JAMES ROAD, KINGSTON UPON THAMES, KT1 2AH
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Trading
£ Y/E March 2008 Y/E March 2009 Y/E March 2010 MAT August 2010
Oceana Nightclub, 4,239,636 3,540,490 2,293,467 1,993,599Hurst Street,Birmingham B5 4AS
Ikon & Jaxx Nightclub, 2,005,449 1,974,140 1,212,604 778,710Bridge Street, Bolton RM1 1NX
One Three One Nightclub, 1,284,235 858,529 685,959 491,801131 South Street, Romford RM1 1NX
Hippodrome Nightclub, 2,986,276 645,138 428,263 929,8251 St James Road, Full year Part year Part year Part yearKingston upon Thames, Kingston KT1 2AH
Contact details
Chris [email protected]. 020 7333 6366 Mobile. 07836 696530
Daniel [email protected]. 020 7333 6374 Mobile. 07776 161821
Fergus [email protected]. 020 7653 6831 Mobile. 07787 558756
Conditions under which these particulars are issuedAll 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
Conditions
1. All negotiations will be ‘subject to contract’ and also to final formal approval by the Luminar board.
2. Any sales will be structured as property asset transactions and no warranties will be given within the sale contract.
3. Luminar reserves the right to withdraw any of the properties from the market at any stage without liability to any prospective purchaser or thirdparty.
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 purchaserwill be required to continue the employment of all employees working atthe acquired property on completion and to pay any liability arising inrespect of any TUPE related issues.
Pensions
6. The purchaser will be required to fulfill any pension obligations owed toany employees acquired as part of the sale process.
VAT
7. The purchaser shall be liable to Luminar for any VAT payable inconnection with the sale.
Trade Inventory
8. This will be prepared in accordance with normal trade practice. Leasedor other items not owned by Luminar will be excluded, as will gamingmachines, beer raising equipment, Luminar signage, computerequipment and cash tills. Certain other items bearing the corporateidentity or any brand names will be removed from the premises atcompletion. The trade inventory will be included in the sale price.
9. Wet and dry stock, glassware, crockery, cutlery and cleaning materialsand fuel will be sold to the purchaser at valuation on completion.
10. Contracts for goods and services at the property will be terminated onthe completion date and the purchaser will need to make otherarrangements in this regard.
Customer Bookings
11. Purchasers will be required to honour any bookings taken prior to sale.
Intellectual Property and De-branding
12. The properties have recently been trading as either Liquid, Lava, Ignite.This and any other Luminar brand names and trading style names areexcluded from the sale as are all trademarks and domain namesassociated with them. The purchaser will be obliged to operate thesevenues under other brands that have no association with Luminar.
13. Luminar will remove all branded signage and other branded materialfrom the property on or before completion.
Licences
14. Luminar will use its reasonable endeavours to transfer any applicablelicences relating to the sold property but shall not be liable if a licencecannot be transferred.
15. It is a requirement of the Licensing Act 2003 that properties servingalcohol have a designated premises supervisor who must be the holderof a Personal Licence. Prospective purchasers should seek appropriatespecialist advice.
Sale Process and Offers
16. The property is being offered for sale by private treaty. A date may be setfor the submission of informal tenders, details of which will be advised.
The sale contract will apportion the sale price between Land andBuildings, Landlord's Fixtures and Fittings and Trade Furnishings andEffects. Luminar will retain the benefit of any capital allowances.
Preference will be given to purchasers that are companies or LLP’s thatare able to confirm that they have secured their board approval for thebid being submitted.
17. A 10% non-refundable deposit will be required on exchange ofcontracts.
18. Purchasers will be required to provide appropriate proof of their ability tofund any acquisition. Please, therefore, submit letters from your banksand any equity partners with your bid. Preference will be given topurchasers that are companies or LLP’s that are able to confirm thatthey have secured adequate funding.
19. Purchasers will be required to provide company or similar financialaccounts, other financial details and business references in support ofapplications for landlord's consent to assignment of the leaseholdinterest.
In certain circumstances purchasers may be required to provideguarantees or rent bonds of up to twelve (12) month's rent as part of theassignment procedure.
Viewing Arrangements
20. By appointment by contacting Gerald Eve LLP . Prospective purchasersshall not approach or discuss details regarding the sale of any propertywith the manager or other staff at the venue.
Searches
21. The purchaser will be expected to reimburse Luminar (or the appropriateLuminar Group Company) the full costs of all Local Authority, Utility,Common Land, any other required searches that Luminar's solicitorshave been instructed to obtain to assist with the sales process and thatare still valid at the point of exchange of contracts.
General Terms and ConditionsGerald Eve LLP are pleased to offer for sale on behalf of Luminar Group Holdings PLC and its subsidiaries (“Luminar”) a number of freehold and leaseholdclub 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 asstatements or representations of fact but must satisfy themselves by carrying out the appropriate searches or otherwise toascertain the correctness thereof.
Gerald Eve LLP’s marketing and subsequent sales will be subject to the following: