GREEN AYRE PUBLIC HOUSE & DW SPORTS 61/63 NORTH ROAD LANCASTER LANCASHIRE LA1 1LU SUBSTANTIAL FREEHOLD FORMER PUBLIC HOUSE WITH VACANT POSSESSION AND RETAIL INVESTMENT LET TO DW SPORTS UNTIL 2027 FOR SALE
Freehold Prominent position in a popular market town Substantial vacant public house over ground and basement Part let to DW Sports Limited until November 2027 at a passing rent of 71,765 per annum Accommodation arranged over basement, ground and two upper floors Offers in excess of 1,150,000 are invited for the benefit of our clients freehold interest The Property Location Lancaster is a large historic market town located approximately 21 miles to the north of Preston, 44 miles to the north of Manchester and 18 miles to the south of Kendal. The property occupies a prominent central position within the town a short walk from St Nicholas Arcades Shopping Centre. Occupiers nearby include Bella Italia, Topshop, Costa Coffee and Boots. Description & Accommodation The property comprises a detached three storey building of traditional stone construction beneath a slate mansard roof. A modern three storey extension has been added to the northern elevation, providing further accommodation. Internally the property is configured to provide a ground and basement public house with the upper floors accessed from a separate ground floor entrance and occupied by DW Sports. Public House Ground floor: Trading accommodation with bar servery to the rear. When trading the property was laid out to provide a variety of tables and seating. A disabled toilet is also provided at this level. Basement: Currently in shell condition, however when trading it comprised ladies and gents toilets, commercial kitchen, beer cellar, office and ancillary storage.
DW Sport Ground Floor: Access to the unit is at ground floor level from North Road with escalators leading to the first floor. First Floor: The first floor comprises the main retail trading area for DW Sport. Second Floor: The second floor is currently used for storage. Approximate Floor Areas Floor Description Sq.m Sq.ft Ground Trading & Ancillary - Pub 409.3 4,406 Ground Ancillary - DW Sports 20.4 219 Basement Ancillary - Pub 498.4 5,365 First Trading - DW Sports 450.8 4,851 Second Ancillary - DW Sports 456.2 4,910 Total 1835.1 19,751 Purchasers are advised to check these areas which are indicative only and show a best estimate under the current configuration. Tenure Freehold. Tenancy Part of the ground floor and the entire first and second floors are let to Dave Whelan Sports Limited (Company Number 06846128) expiring 6 November 2027 at a current rent of 71,765 per annum subject to a fixed uplift to the greater of 79,234 per annum or the market rent on 7 November 2022.
Covenant Dave Whelan Sports Limited is a leading leisure and retail business which currently operates 90 retail stores and over 120 gyms throughout the United Kingdom under its DW Sport and DW Fitness First brands. DW were established in 2009, when Dave Whelan purchased 42 fitness clubs and retail stores from JJB Sports Plc. More recently in September 2017 Dave Whelan Sports acquired 62 health and fitness clubs from Fitness First UK, to make it the second largest gym operator in the UK. Dave Whelan Sports has published the following financial information: Year End 31/03/2017 27/03/2016 Turnover 203,528,304 159,585,620 Gross Profit 150,974,041 114,205,494 EBITDA Adjusted* 18,582,215 14,753,942 *excludes an onerous lease provision, acquisition and restructuring costs impairment and loss on disposal of fixed assets Rateable Value & EPC 2017 Rateable Value: Former Green Ayre - 115,000 DW Sports - 93,000 EPC in course of preparation. Premises licence The public house benefits from a premises licence permitting the sale of alcohol from 07:00 to 02:00 Monday to Sunday. Planning Our verbal enquiries of the local authority have revealed that the property is not listed but it is situated within the Lancaster Conservation Area. Trading Information Historic trading information for the public house may be made available to interested parties upon written request. Fixtures and Fittings The majority of the fixtures and fittings have been removed from the public house.
Viewing and Terms No formal viewing will be permitted unless arranged through the joint selling agent CBRE and Savills. Offers are invited in excess of 1,150,000 for the benefit of our clients freehold interest. To see further available JD Wetherspoon Public Houses across England, Scotland and Wales please visit: Nick Huddleston T: 0161 233 5672 M: 07791 251745 nick.huddleston@cbre.com Toby Hall T: 020 7182 2259 M: 07785 253055 toby.hall@cbre.com James Brindley T: 020 7182 2651 M: 07827 356616 james.brindley@cbre.com www.jdwdisposals.com Peter Scholes T: 0161 277 7227 M: 07807 999654 pscholes@savills.com Paul Breen T: 020 7877 4555 M: 07767 873353 pbreen@savills.com Stuart Stares T: 020 7299 3088 M: 07807 999841 sstares@savills.com Disclaimer: February 2018 CBRE Limited and Savills on its behalf and for the Vendors or Lessors of this property whose Agents they are, give notice that: 1. These particulars are set out as a general outline only for guidance to intending Purchasers or Lessees, and do not constitute any part of an offer or contract. 2. Details are given without any responsibility and any intending Purchasers, Lessees or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of CBRE Limited or Savills plc has any authority to make any representation or warranty whatsoever in relation to this property. 4. Unless otherwise stated, all prices and rents are quoted exclusive of VAT.