Savills jointly with Fisher Hargreaves Proctor, will be selling 26-28 St James’s Street in Nottingham at the next Savills regional auction being held atNottingham Race Course on 1st September 2016. The freehold property is available at a guide price of £475,000 to £500,000.
The lot comprises two properties, 26 St James’s Street, which includes a ground floor bar and cellar totalling 1,241 sq ft (115 sq m) and 26-28 St James’s Street, a bar and nightclub, which totals 5,773 sq ft (534 sq m). Trading as Bar Schnapps and Arriba Bar respectively, the combined properties generate an annual rental income of £71,625.
Situated on the northern side of St James’s Street, an established leisure destination in Nottingham city centre, the premises benefits from footfall generated by the nearby Old Market Square.
Victor Ktori, head of office at Savills Nottingham, comments: “This is a rare opportunity to acquire a high quality leisure venue in a top city centre location. Providing good rental income and the possibility for future asset management, 26-28 St James’s Street is likely to be extremely popular in the room.”