Pub/bar to let in Truth Nightclub, Friars Gate, Warrington WA1

Key Points

Description

We are delighted to offer for rent this stunning 4 storey landmark corner building in the centre of the town's night scene. It has feature brick elevations beneath a multi pitch slate roof.

Truth is a Nightclub premises and although it is currently closed, experienced operators will note that there is an opportunity to reopen very quickly and establish a successful late night trade. The property is in very good condition, benefitting from a comprehensive refurbishment in 2021. These fixtures and fittings are now the Landlord's and they are available to purchase for use as part of the lease, providing the opportunity to enable immediate trade from day one.

This was originally a cinema building, subsequently converting to a theatre and then later, a bingo hall. It was converted into a nightclub in the early 2000's and was substantially refurbished 3 years ago at a reported cost in the region of £300,000.

The main club room is located on the ground floor, together with a cocktail bar area to the rear. In addition, there is a further club room at the first floor. The Premises Licence states that the capacity to the ground floor is 900, with a further 500 capacity to the first floor.

Location

The property is situated just off Bridge Street, in the heart of Warrington Town Centre.

It is located within the main night time area of the Town and across the road from the Warrington arm of the University of Chester.

Warrington’s main attribute is the surrounding road and rail networks, with two main line stations, serving north to south and east to west.

Lease Terms & Rental

A new Free of Tie lease will be made available for a flexible term, on a full repairing and insuring basis, subject to periodic upward only rent reviews, at an initial rent of £90,000 per annum plus VAT.

Incentives available for proven operators.

Fixtures & Fittings

A one off premium of £100,000 plus VAT is payable for the business opportunity, use of fixtures and fittings and the valuable leasehold interest.

Anti-Money Laundering Regulations

In accordance with Anti-Money Laundering Regulations, two forms of Identification and confirmation of the source of funding will be required from the successful purchaser.

VAT

We are advised that VAT is applicable to the property.