30/07/2024 10:51:00
Fleurets is delighted to bring to market 2-3 Pavilion Buildings in Brighton.
Located beside The Royal Pavilion, in the heart of Brighton's cultural quarter just off the main throughfare of North Street close to The Lanes and a short walk to the seafront, the extensively refurbished unit, comprises a bar/restaurant with offices above totalling 1,075 m2 (11,580 ft2) arranged over basement, ground and two upper floors. There is a versatile area of outside seating by way of a separate agreement with Brighton & Hove City Council.
All Bar One has been brought to the market as a long leasehold opportunity with 114 years remaining, and is also being offered on a new Free of Tie lease at a guide rent of £150,000 p.a.
Elysia Wilson-Gunn, Divisional Director of Fleurets said, "Our clients have a long leasehold interest from 1st May 2013 on a 125 lease, from Brighton & Hove City Council. Mitchells & Butlers are the current tenants of the ground floor and basement but are vacating on 28th September 2024. Then the whole building can be acquired with vacant possession, for £2.65m including 14 car parking spaces."
Currently the first-floor offices are held on a lease to Techopolis which is a global consultancy company. They are paying a rent of £42,000 p.a. and are holding over as the lease expired in March 2024. The second-floor offices are vacant and are on the market with local agents; Eightfold.
In addition, a new Free of Tie Lease for the ground floor and basement unit can be granted. Nick Earee, Divisional Director of Fleurets, said "Having been based in Brighton and knowing the site for many years I am delighted to have been instructed to either sell the whole building or let the area currently occupied by All Bar One. It's a prime city centre site and we expect a lot of interest from a wide range of expanding and new operators. "
Click here to view the property details. For further information contact Fleurets at 020 7280 4700 or email london@fleurets.com.