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47 High Street

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 DE14 1JS StaffordshireWest Midlands
Ref: 8192

  • Size 4,819.00 ft² (447.70 m²)
  • Price: £450,000
  • Initial Yield 7.97
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Description

Description

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:-

DescriptionSq mSq ft
Ground Floor191.822,064
First Floor151.601,630
Second Floor104.261,125
Total Accommodation447.684,819

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:-

DescriptionSq mSq ft
First Floor
3 no 2 bedrooms, 1 bathroom apartments151.601,630
Second Floor
2 no 2 bedrooms, 1 bathroom apartments104.261,125
Total Upper Floor Accommodation255.862,755

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

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James Hemstock
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Lauren Baddeley
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JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:-
a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
c. no person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property;
d. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken.
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