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26-28 Market St 23,186 SF Retail Building Nottingham NG1 6HW $3,632,365 CAD ($156.66 CAD/SF) 8.93% Cap Rate
Investment Highlights
- Freehold public house investment.
- Property arranged over four levels extending to 23,186 sq ft (2,154 sq m).
- Rent review in 28 August 2025.
- Recent tenant investment of £150,000.
- The rent is subject to 5 yearly rent reviews in line with open market rent.
- Entire property let to Revolucion De Cuba Limited with The Revel Collective Plc as Guarantor.
- Current Rent of £185,000 per annum.
- Lease expiring 2043.
- Low Capital value rate of £84.07 per sq.ft.
- Offers in excess of £1,950,000 (8.93% NIY) based upon the rent passing of £185,000pa.
Executive Summary
Prime Investment In The Centre of Nottingham, Freehold Guide Price of £1.95 Million, representing an 8.93% NIY. The property is held freehold (Title number NT12906).
Accommodation
Cellar – The cellar comprises multiple storage rooms, a beer store, and a reserved stock area, ideal for back-of-house operations and inventory management.
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.
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.
First Floor – The first floor features two bars, fixed seating throughout, and additional male and female toilet facilities.
Second Floor – This level consists of several rooms of varying sizes, currently used as back of house for office, meeting and storage space.
Third Floor – Again this space provides back of house accommodation and provides additional rooms including dedicated space for utilities and tanking system.
Tenancy
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.
Covenant
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.
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.
Website - https://www.therevelcollective.com/
Planning
This property is a Grade II listed building (1254782) and within the Nottingham Conservation Area.
Accommodation
Cellar – The cellar comprises multiple storage rooms, a beer store, and a reserved stock area, ideal for back-of-house operations and inventory management.
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.
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.
First Floor – The first floor features two bars, fixed seating throughout, and additional male and female toilet facilities.
Second Floor – This level consists of several rooms of varying sizes, currently used as back of house for office, meeting and storage space.
Third Floor – Again this space provides back of house accommodation and provides additional rooms including dedicated space for utilities and tanking system.
Tenancy
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.
Covenant
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.
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.
Website - https://www.therevelcollective.com/
Planning
This property is a Grade II listed building (1254782) and within the Nottingham Conservation Area.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Bar
Building Size
23,186 SF
Building Class
B
Year Built
1990
Price
$3,632,365 CAD
Price Per SF
$156.66 CAD
Cap Rate
8.93%
NOI
$324,370 CAD
Tenancy
Single
Building Height
5 Stories
Building FAR
3.98
Lot Size
0.13 AC
Frontage
40’ on Market St
Amenities
- Bus Line
1 1
Nearby Major Retailers
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26-28 Market St
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