March 2021: Tuesday 02 March 2021 - 9:00am
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    Key features

    • Long well regarded town centre restaurant premises
    • University town
    • High specification fit out
    • Character building with period features
    • Approximately 100 covers
    • Fully equipped catering kitchen, fixtures and fittings included
    • Parking to the rear
    • By order of the administrators

    Description

    The Browns Lane Bar & Restaurant is an attractive building of brick construction under a pitched slate tiled roof. It is configured to provide accommodation over ground and first floor levels.

    Externally there is a terrace to the front of the property, which is configured to provide customer seating for approximately 20 covers. To the rear, there is a yard area to provide up to 4 car parking spaces for staff.

    The property has the benefit of a Premises Licence in accordance with the Licensing Act 2003. We understand that the premises are permitted to operate at the following times:

    Sunday to Thursday - 11.00 to 00.30

    Friday and Saturday - 11.00 to 01.30

    The property is being sold with fixtures and fittings and is ready to trade.

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground floor - Bar area with servery and bar seating, loose tables and chairs for up to approximately 28 covers. The remainder of the ground floor includes customer WC's and a beer cellar, a small office area, storage space and staff WC.

    First floor - The main dining area which can accommodate up to approximately 72 covers. A well-equipped catering kitchen is also provided at this level.

    Tenancy

    Occupied via a tenancy at will dated 22nd June 2020 at a rent of £38,880 per annum (*not currently being paid).

    Notes

    VAT is applicable to this lot

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The Browns Lane Bar & Restaurant is located in the bustling university town of Loughborough, which lies approximately 11 miles north of Leicester and 16 miles south of Nottingham.

      A prominent corner position at the junctions with Browns Lane and Forest Road.

      The surrounding area is a mix of residential and commercial occupiers.

      The Blacksmiths public house is nearby and the town centre and Cattle Market are also a short walk away.

      Loughborough University campus is located approximately 1 mile to the west.

      Loughborough train station is approximately 1 mile to the north.

      Transport

      Loughborough - National Rail

      Legal documents

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      EPC rating

      The EPC rating for this property is C

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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