JLL Residential

Ref No. 8192
47 High Street, Burton upon Trent, DE14 1JS

For Sale

    Freehold Leisure Investment Opportunity

    Specification

    47 High Street comprises a three-storey period building located in the heart of Burton-Upon-Trent's pedestrianised town centre.  The property is arranged over ground and two upper floors and is accessed at ground floor level.  The existing ground floor area, trading as 'Fever', incorporates three bars, two serveries and a dance floor area with access to an outside paved yard and seating area protected from the street via a high wall.  At ground floor is cellar storage space with access to the rear car park.  The ground floor also provides both male, female and disabled toilet facilities.

    At first floor level there is a further bar area named 'Boutique' comprising a bar area and toilet facilities.

    The second floor level provides storage space, staff areas and the bar manager's office. 

    • The property benefits from a prominent and enviable position at the junction of High Street and Worthington Way, placing it at the heart of the town’s established retail and leisure trading pitch.
    • Let in its entirety to Fever Bar (Burton) Ltd on FRI terms, for a term of 20 years from 26 October 2012 with 5 yearly open RPI linked rent reviews. Accordingly, there are 15.75 years remaining providing long term indexed linked income.
    • A residential conversion scheme has also been designed to convert the property into 5 apartments providing a future development opportunity at lease expiry.
    • Freehold.
    • Current passing rent of £37,500 per annum. Based on an RPI figure of 2% per annum the passing rent will increase to £41,250 per annum in October this year.

    Accommodation

    The property provides a total Net Internal Floor Area of 447.68 sq m (4,819 sq ft), arranged over three floors as indicated below:-

    Description Sq m Sq ft
    Ground Floor 191.82 2,064
    First Floor 151.60 1,630
    Second Floor 104.26 1,125
    Total Accommodation 447.68 4,819

    Alternative Residential Use

    Whilst the ground floor is eminently suitable for use as a bar, extensive upper floor accommodation presents the development opportunity for conversion into residential accommodation.   The Vendor has drawn up plans for a potential residential conversion equating to five appartments.  The plans propose upper floor accommodation could be as ancillary residential accommodation as follows:-

    Description Sq m Sq ft
    First Floor    
    3 no 2 bedrooms, 1 bathroom apartments 151.60 1,630
    Second Floor    
    2 no 2 bedrooms, 1 bathroom apartments 104.26 1,125
    Total Upper Floor Accommodation 255.86 2,755

    Alternative uses to Use Class A4 (Drinking Establishments) will be subject to planning consent.