Athenaeum Building

Athenaeum Building
£ 35K/£40K/annum

Published on March 6, 2015

Building:
5-9
Address:
Union Street
Postcode / City:
AB11 5BU Aberdeen
Type:
SOLD
Info PDF:
Download
Square Feet:
6,417

Description

NIGHTCLUB AND BAR/RESTAURANT

The property comprises a ground floor lounge bar/restaurant with a separate basement nightclub within a substantial four storey basement and mansard attic building of granite and slate construction.

LOCATION

The property occupies a prominent corner site on the south side of Union Street at its junction with Exchequer Row.

Union Street is Aberdeen’s principal shopping thoroughfare and other licensed operators within the immediate vicinity include, Archibald Simpsons (J D Wetherspoon), Blackfriars (Belhaven), Henry’s Café Bar, Vue Cinema and G Casino.

Aberdeen is Scotland’s third largest city with a population in the region of 215,000 and a catchment of around 500,000. The city is known as the Oil Capital of Europe with a higher than average disposable income and unemployment currently stands at approximately 3.1%.

ACCOMMODATION

The following accommodation is provided:

  Net Internal Area

a) LOUNGE BAR

Ground Floor
Public area, male, female and
disabled toilets, kitchen,
prep area; office, cellar ,bin store 

b) NIGHTCLUB   

Ground Floor
Entrance, ticket desk, cloakroom

Basement
Public area, male & female
toilets, storage, cellar                                         

 257.26 m2 (2,796 sq ft)

 

 

 

33.95 m2 (365 sq ft)
 

 

304.96 m2 (3,283 sq ft)

Total


506.17 m2 (6,417 sq ft) or thereby

 

RATING ASSESSMENT

The property is entered in the valuation roll as follows:

Net & Rateable Value for Lounge Bar/Restaurant – £35,000

Net & Rateable Value for Nightclub – £30,000

The Uniform Business Rate for the year 2014/2015 is 0.47p in the £.

LEASE TERMS

The property is offered as a whole or separately on a new full repairing insuring lease for a period to be agreed incorporating upward only rent reviews at the appropriate intervals.

RENTAL

(a)   Restaurant/Bar – £40,000 per annum

(b)   Nightclub – £35,000 per annum

VAT

All figures quoted are exclusive of Value Added Tax.

ENTRY

On completion of legal formalities.

EPC

An energy performance certificate can be provided on request.

LEGAL COSTS

Each party will be responsible for their own legal costs incurred in the preparation of the lease with the tenant being responsible for SDLT and registration dues. 

OFFERS & VIEWINGS

All offers should be submitted in writing to the sole agents who will also make arrangements to view.

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