A bar chain will close its city centre location.
All Bar One will vacate the recently refurbished unit in 2 to 3 Pavilion Gardens in Brighton on September 28.
Estate agents Fleurets said it has now been instructed to either sell the whole building, which also has offices and covers 1,075 m2 (11,580 ft2) arranged over the basement, ground and two upper floors, or let the area currently occupied by All Bar One.
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 per annum.
The entire building has been marketed at £2.65 million.
Elysia Wilson-Gunn, divisional director of Fleurets said: “Our clients have a long leasehold interest from May 1, 2013, on a 125-year lease from Brighton and Hove City Council.
“Mitchells and Butlers are the current tenants of the ground floor and basement but are vacating on September 28, 2024. Then the whole building can be acquired with vacant possession, for £2.65m including 14 car parking spaces.”
Fleurets said the first-floor offices are held on a lease to Techopolis which is a global consultancy company.
It is paying a rent of £42,000 per annum and is holding over as the lease expired in March 2024. The second-floor offices are vacant and are on the market with local agents Eightfold.
A new free of tie lease for the ground floor and basement unit can be granted, Fleurets said.
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.”The bar underwent a full refurbishment in the summer of 2022 following a fire.
A blaze in North Street in November 2020, which saw the whole road closed for nine and a half hours while firefighters battled to get the flames under control, significantly damaged the bustling establishment.
Mitchells and Butler, the parent company of All Bar One, was contacted for comment.For further information contact Fleurets on 020 7280 4700 or email london@fleurets.com
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel