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Luminar to sell four nightclubs for £4m

13 October 2010 by
Luminar to sell four nightclubs for £4m

Luminar is hoping to raise around £4m from the sale of four more nightclubs across the country.

Property agent Gerald Eve is to handle the sale of the four properties in Birmingham, Bolton, Kingston upon Thames and Romford, which are available individually or as a package.

The move follows the earlier sale of three clubs in York, Harlow and Shrewsbury, also by Gerald Eve.

The four clubs are:

Oceana nightclub, Hurst Street, Birmingham. It has a 5,220sq ft ground floor and a 40,622sq ft basement of which 34,261sq ft is laid out for club use. The tenure is leasehold by way of six separate leases/licenses with the main leases expiring in 2059. Guide price: £1m.

Ikon and Jaxx nightclub in Bolton, Bridge Street. The 26,791sq ft site was originally built as the Palais de Danse, Bolton in the 1920s. Freehold. Guide price: £1.5m.

The 40,000sq ft Hippodrome nightclub, St James Road, Kingston Upon Thames. On a full repairing and insuring 25-year lease, which commenced in May 2005. Guide price: £1.5m.

One Three One nightclub, South Street, Romford. An 11,034sq ft former post office arranged over ground and first floors with a mezzanine and basement areas. The premises are held on a full repairing and insuring lease, which expires in November 2022.

Luminar parts with finance director as profits slump >>

Luminar reports 10% fall in same-outlet annual sales >>

Luminar sales plummet 19.9% thanks to World Cup >>

By Neil Gerrard

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