Retail for sale - Revolución de Cuba, 26-28 Market Street, Nottingham, NG1 6HW

<strong>Description</strong><br>The five storey terrace building is arranged over lower ground, ground, first, second and third floors with exposed stone and brick elevations beneath a multi pitched tiled roof.<br><br><strong>Tenure</strong><br>The property is held freehold (Title number NT12906)<br><br><strong>Accommodation</strong><br>Cellar – The cellar comprises multiple storage rooms, a beer store, and a reserved stock area, ideal for back-of-house operations and inventory management.<br /> <br /> Lower Ground Floor – The lower ground floor offers further storage and preparation areas and features a commercial kitchen. This level also includes multiple male and female toilet facilities, as well as a staircase providing access to the upper floors.<br /> <br /> Ground Floor – The ground floor is split into two main sections. The primary area is a large open-plan space with a main bar running along one elevation, complemented by a spacious hall with high ceilings and multiple access points. The secondary area includes an additional room fitted with fixed booths and a disabled toilet.<br /> <br /> First Floor – The first floor features two bars, fixed seating throughout, and additional male and female toilet facilities.<br /> <br /> Second Floor – This level consists of several rooms of varying sizes, currently used as back of house for office, meeting and storage space.<br /> <br /> Third Floor – Again this space provides back of house accommodation and provides additional rooms including dedicated space for utilities and tanking system.<br><br><strong>Tenancy</strong><br>Freehold. The property is let to Revolucion De Cuba Limited with guarantee from Revolution Bars Group PLC on a 25 year FRI lease from 26th August 2015 to 28th August 2043 with a break on 27th August 2032. The rent passing is £185,000 p.a. and is subject to five yearly rent reviews on an upwards only basis in which are reviewed based on an open market rent.<br><br><strong>Covenant</strong><br>The Revel Collective Plc, formerly known as Revolution Bars Group Plc, is a prominent operator of premium bars and pubs across the United Kingdom. Established in 1991, the company has grown to encompass approximately 60 venues, employing around 2,300 individuals nationwide. <br /> <br /> In 2024, the company rebranded to The Revel Collective Plc, reflecting its expanded portfolio and diversified offerings. The group's estate comprises 62 sites, including 22 Peach Pubs, 15 Revolución de Cuba bars, 27 Revolution bars, and one Founders & Co. location.<br /> <br /> Website - https://www.therevelcollective.com/<br><br><strong>Planning</strong><br>This property is a Grade II listed building (1254782) and within the Nottingham Conservation Area.<br><br><strong>VAT</strong><br>It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.<br><br><strong>EPC</strong><br>C 57<br><br><strong>Terms</strong><br>Offers in excess of £1,950,000 are invited for the benefit of our clients freehold interest. A sale at this level would reflect a net initial yield of 8.93%.<br><br><strong>Fixture & Fittings</strong><br>The fixtures and fittings are currently owned by the occupational tenant.<br><br><strong>Viewings</strong><br>All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.<br /> <br /> For further information and all viewing requests please contact the sole selling agents Savills.<br><br><strong>Money Laundering</strong><br>Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.<br><br>