Landmark Blackpool bar and restaurant investment to be auctioned
A well-known Blackpool bar and restaurant property let to national operator Stonegate Pubs is to go under the hammer later this month with a guide price of £595,000.
The 5,500 sq ft building at 8–14 Queen Street in Blackpool town centre is currently occupied by the Slug and Lettuce and generates an annual rental income of £80,000, with around 12 years remaining on the lease.
The property will appear in the multi-lot auction held by BTG Eddisons Property Auctions on 26 February.
BTG Eddisons Property Auctions is the new name for regional auction businesses Pugh, SDL Property Auctions and Mark Jenkinson, which have come together to operate as a single national brand.
According to the auctioneers, the property, which was fully refurbished internally five years ago, represents an attractive investment opportunity due to its prominent town centre location and established trading history as a hospitality venue.
Edward Feather, director at BTG Eddisons Property Auctions, said: “This is a great property that’s something of a Blackpool institution and is very well known as a food and drink destination. The location could hardly be better, with a wide frontage onto Queen Street, the busy route from Blackpool North railway station to the North Pier.
“It’s also within walking distance of the town’s main tourist attractions and surrounded by a strong mix of bars, restaurants, nightclubs, hotels and guest houses.”
He added: “Investment opportunities of this quality and security do not come to market very often, and we’ve already had significant interest from potential buyers.”
For more details, viewing and bidding information on 8-14 Queen Street or to view the full auction catalogue visit www.btgeddisonspropertyauctions.com