Friday, September 16, 2011

News: Rotherham nightclub up for sale


The 22,000 sq ft, 2,000 capacity, Liquid & Envy nightclub in Rotherham town centre has been put up for sale.

Chartered surveyors & property consultants, Gerald Eve, has been instructed to sell the Main Street venue by operators Luminar Leisure.

The 1.965 acre site also includes 150 car-park spaces and is being advertised as an investment and a development opportunity. The site is located in the heart of the £2bn Rotherham Renaissance regeneration initiative, close to the council's Riverside House and the new community stadium for Rotherham United.

The agents state that "subject to the necessary consents the site has potential for redevelopment for small scale retail, restaurant, hotel, office and lesiure uses. The site could also hold potential for an element of residential development."

Luminar may also consider taking back a short term lease of the nightclub on terms to be agreed.

Chris Ford, leisure partner at Gerald Eve, said: "We expect interest both from operators who want to continue running the venue as a club and also from developers looking to participate in Rotherham's ambitious rejuvenation plans. The vendor has said it may consider taking back a short term lease of the nightclub if that would be of interest to developers."

Luminar has a branded estate of over 70 nightclubs and bars and the largest square footage of nightclub capacity in the country. They posted a loss before tax for the year ended 26 February 2011 of £1.1m compared to a profit of £5.5m in 2010. They are in discussion with its banks on the restructuring of the group's debt arrangement and has disposed of four properties in recent months which have generated a net cash inflow of £3.7m.

Luminar website
Gerald Eve website



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