Liverpool cinema building up for sale

29 Sep 2009, 15:21

Michael Hunt

A vacant former cinema and bingo hall at the junction of Park Road and Dingle Lane has been brought onto the market for investment opportunities.

The 13,544 sq ft building is currently subject to agreements with Orange, T Mobile, O2 and City Outdoor which produce a combined rental income of £51,079.33 per annum.

Orange has a 20-year agreement from 1 July 2002 at a passing rent of £11,765.04 per annum subject to five yearly rent reviews.

T Mobile also has 20-year agreement from 4 March 2003 at a passing rent of £11,790.30 per annum subject to five yearly rent reviews.

O2 has 15-year lease from 9 August 2003 at a passing rent of £15,523.99 per annum subject to five yearly rent reviews.

City Outdoor has agreed a three-year licence from 1 October this year at a passing rent of £12,000 per annum.

Paul Parker, a principal surveyor at the Liverpool office for selling agents Edward Symmons, said: "Our client is seeking offers for the freehold interest or the rights to the rental income at a guide price of £500,000."

The property was built in 1937 and includes a basement, ground and four upper floors.

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