The subjects are located immediately to the south of Hamilton Street, at its junction with Windmill Street and within the town centre of Saltcoats.  Hamilton Street forms one of the main retailing areas within the town and also contains a mix of other occupiers including hot food take-aways, cafes and licensed operators.

“The Metro” is an imposing building formed to the southern end of Hamilton Street and is located immediately opposite a substantial public house operated by J D Wetherspoon.

The subjects comprise a substantial 2/3 storey terraced property which originally comprised a cinema but which was converted some time ago to its current use as a night club.  The building is generally constructed of brick, rendered externally and we understand that the roof is of traditional pitched design, incorporating flat roofed sections.

Internally, the subjects have been fitted out as a night club operation with, at ground floor level, entrance foyer, ticket booth, main bar area, dance floor, DJ booth, seating area, male and female toilets, male and female staff toilets and various other beer stores and ancillary accommodation. 

There is a further dance floor at mezzanine level with, at balcony level, balcony bar, seating area, and separate diner incorporating male and female toilets, but which are currently unused by the current operator.

There is further storage and ancillary accommodation at upper levels.

“The Metro” night club is a long established venue within Saltcoats and was formed from a former picture house/cinema, some years ago.  It is the main night club within the town and serves Saltcoats itself, as well as a number of outlying areas, including Ardrossan, West Kilbride etc.

The current operator, Jacbecca Limited, has been operating the venue for a period of three years.

The club has a capacity of 700 persons with, we understand, current admission numbers being as follows:-

Thursday   75 – 100
Friday 200 – 225
Saturday 400 – 450

Indicative turnover figures can be provided to interested parties, upon request.

The subjects are let to Jacbecca Limited for an initial period of three years from 4 April 2005 to April 2008. The current passing rent is £109,200 (paid on a weekly basis at £2,100pw).  The lease contains a rolling tenant’s break option, exercisable on serving 6 months written notice.

The lease has been extended via a Minute of Agreement for a further eight years, expiring in April 2016. Whilst the original lease stated that repairs were to be on a shared basis, this has been updated to a Full Repairing and Insuring lease by the Minute of Agreement.  Rent reviews are to be on a three yearly basis in an upwards only direction to full rack rental market value, the next rent review being April 2011.

Full copies of the lease documentation can be provided to interested parties upon written request from the sole selling agents.