COUNTY DURHAM - TOWN CENTRE NIGHTCLUB, LEASEHOLD

LEASEHOLD£45,000 to include fixtures and fittings and goodwill. Stock at valuation in addition. TERMFor a term of 7 years with an option to extend. LANDLORD & TENANT ACT 1954Inside Part II Landlord & Tenant Act 1954. ASSIGNABILITYAssignable subject to Landlord’s consent. DEPOSITThe successful applicant will be required to lodge with the freeholder a deposit equivalent to 3 months’ rent in advance. RENTAnnual rent £20,000, paid monthly in advance. RENT REVIEWSubject to rent reviews every third year of the term. REPAIR LIABILITYPart repairing and insuring lease. This is not a full repairing and insuring lease with the freeholder retaining responsibility for the structure of the building. The lessee will be responsible for internal maintenance, repair and decoration as well as the decorative condition of the exterior of the property. TIEFree of all trade ties. INSURANCEThe Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent. VATPlease note that VAT will not be payable on the Premium and rental payments. No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.

Entrance from the street leading to the first floor. Spacious OPEN PLAN VENUE with modern lighting rig and sound system, DJ BOOTH, large dance floor and two VIP seating areas. There is a well-stocked bar servery with ample refrigeration for bottled drinks alongside draught beverages. LADIES’ and GENTLEMEN'S toilets are offset from the main trade area.