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Buzz Bingo, Marine Road East, Morecambe, Lancashire, LA4

Offers in Excess of
£1,740,000

£65.29 per sq ft

Business rates & charges may apply

CBRE Ltd, London (Licensed, Leisure & Hotel Property)
SIZE AVAILABLE

26,651 sq ft

2,476 sq m

SECTOR

Leisure facility for sale

USE CLASSUse class orders: Sui Generis

sui_generis_3

Floor/Site plan 1
1

Key features

  • Prime long leasehold leisure Investment let to Buzz Group Ltd
  • FRI Lease to Buzz Group Ltd. Unexpired term of 15.25 years. Expiry 18th December 2039
  • Current rent of £259,533.53 p.a. (£9.74 psf). Annual December RPI uplifts collared and capped at 1% and 4%
  • The property is held in a long leasehold basis with 36.5 years unexpired and a head rent of £38,565 pa. This is paid directly by Buzz Bingo and not the Leaseholder.
  • An opportunity to extend the long leasehold, subject to agreeing terms with the freeholder
  • The property extends 26,651 Sq ft (2,476 Sq m) on a 1.97 acre (0.8 hectares) site

Description

LOCATION

Buzz Bingo Morecambe is located at the northern end of Morecambe town centre, on Marine Road East. The property is surrounded by hotels, guesthouses and retirement homes, as well as several residential areas further driving frequent footfall to the site.

The club benefits from strong connectivity given its location on Marine Road East, providing accessibility by foot, bus and car, along with having an extensive on-site car park. Additionally, Morecambe railway station is located walking distance from the property.

SITUATION

The property is situated in a prime town centre location and is within walking distance to attractions such as the promenade and local beaches. Additionally, the property benefits from being near demand drivers including Central Retail Park and Arndale Shopping Centre with an array of retail and food outlets such as Boots, Poundstretcher and Iceland.

PROPERTY DESCRIPTION

A purpose-built bingo club that extends 26,651 sq ft (2,476 sq m) on a 1.97-acre site. The property is of steel frame construction with a large ground floor bingo hall and AWP area, with ancillary accommodation above. There is also dedicated, on-site customer parking with capacity for 84 vehicles.

ASSET MANAGEMENT OPPORTUNITY

There is an opportunity to extend the long leasehold, subject to agreeing terms with the freeholder.

Brochures

Buzz Bingo, Marine Road East, Morecambe, Lancashire, LA4

Approximate location
Open map

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Morecambe Station0.6 miles
  • Bare Lane Station1.0 miles
  • Lancaster Station2.8 miles

About CBRE Ltd, London (Licensed, Leisure & Hotel Property)

Henrietta House Henrietta Place, London, W1G 0NB

With an integrated network of over 300 wholly owned offices in more than 50 countries, our commercial property consultants advise more clients globally than any other commercial property adviser.

We work with occupiers, investors and developers of office, industrial, residential, retail and hotel property, providing strategic advice and execution for sales and leasing; tenant representation; corporate services; facilities, property and project management; appraisal and valuation; development services; investment management; energy and sustainability services, and research and consulting. To provide this service in the UK alone we have approximately 1,600 people with offices in Aberdeen, Belfast, Birmingham, Bristol, Edinburgh, Glasgow, Jersey, Leeds, Liverpool, London, Manchester, Sheffield and Southampton.

Notes

These notes are private, only you can see them.

Disclaimer - Property reference Buzz_Bingo_Morecombe. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by CBRE Ltd, London (Licensed, Leisure & Hotel Property). Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.

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