FOR SALE BY PRIVATE TREATY C. 9,770 sq ft / 900 sq m Washington Bar and Restaurant
Investment Highlights Long established business Prime location in Belfast City Centre Includes both bar and restaurant facilities Opportunity to purchase, goodwill, freehold, fixtures and fittings Potential for nine storey hotel development or alternative mixed use scheme Approximately 700-1,000 hotel rooms opening in the surrounding area within the next 18 months
Location Belfast, the capital of Northern Ireland is the 15th largest city in the United Kingdom. The City is located approximately 103 miles north of Dublin and 75 miles south east of Londonderry. Northern Ireland has seen a rise in tourism, with 417 million spent between January June 2017, a 16% rise in previous year. In addition to this, 4,422,128 nights where spent in Belfast City Centre in 2016, a 5% rise on the previous year. The property occupies a prime location within Belfast City Centre, approximately 100 meters from Belfast City Hall. The area is undergoing extensive development at present with a number of new hotels currently on site. Opening in April 2018,The Maldron Hotel will feature 237 beds, followed by the 303 bed Grand Central Hotel in June 2018 and 80 beds in The George Best Hotel are planned for May 2018. Ten Square Hotel has recently opened phase 1 of its extension to add 71 beds. New student accommodation located nearby includes McClintock Street which will provide 476 student beds, along with the 413 bed John Bell House and the 71 bed Queen s Court development. The property is situated within a few minutes walk of the city s transport links including the proposed new Belfast Transport Hub and the main retail pitch. Nearby occupiers include the BBC, Danske Bank, Deloitte and Invest NI.
Description The property features consist of a three storey terrace fronting onto Howard Street. The bar and restaurant was extensively refurbished in 2010. Internally the property is split over 3 floors, ground floor comprises of a bar, lounge and restaurant space, first floor comprises of a restaurant, bar, dance floor and external patio. Toilet facilities and office accommodation are located on the second floor. The Business The sale offers an opportunity to acquire the freehold, goodwill, fixtures and fittings of this well established business within a prime location. Accommodation Ground floor 3,890 sq ft 361 sq m First floor 3,890 sq ft 361 sq m First floor balcony 420 sq ft 40 sq m Second floor 1,570 sq ft 145 sq m Total 9,770 sq ft 907 sq m * All areas being approximate
Information & Contact The TUPE The bar and restaurant is offered for sale as a going concern and purchase will be required to comply with the current TUPE legislation and employment. Licence Further information is available in the dataroom. Contents An inventory of contents included in the sale will be available. Price Inviting offers in excess of 2.5 Million, exclusive. Title We are advised that the property is held freehold or long leasehold subject to nominal ground rent. Contact VAT All prices are quoted exclusive of VAT, which may be payable. EPC Rating A copy of the EPC Certificate can be made available on request. Lisa McAteer T: 028 9043 6753 E: lisa.mcateer@cbre.com Brian Lavery T: 028 9043 8555 E: brian.lavery@cbre.com CBRE The Linenhall 32-38 Linenhall Street Belfast, BT2 8BG T: 028 9043 8555 W: www.cbre.co.uk/ni @CBRE_NI These particulars are issued by CBRE on the understanding that any negotiations relating to the property are conducted through them. Whilst every care is taken in preparing them, CBRE for themselves and for the vendor/ lessor whose agents they are, give notice that:- (i) the particulars are set out as a general outline for guiding potential purchasers/tenants and do not constitute any part of an offer or contract, (ii) any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation, access or any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness, (iii) neither CBRE, nor any of their employees have any authority to make any or give any representation or warranty in relation to the property. Note: All plans and photographs are for identification purposes only. Subject to contract. November 2017.