Loose Lucee’s Let to Numa Bar in Wolverhampton
October 17, 2011
Leisure property adviser, Davis Coffer Lyons has let the former pub, Loose Lucees in Wolverhampton City Centre to Numa Bar, led by Rob Henery. A rent of £25,000 per annum was agreed at the 3,200 sq ft unit for a new 10 year lease.
Davis Coffer Lyons advised the landlord, the Route Organisation, who has tied the tenant to draught beer and cider with a substantial discount enabling the operator to trade at a very competitive free of tie prices. The Route Organisation is able, through their buying power, to source discounts and provide a one-stop shop for purchasing solutions; contract management; marketing and promotion; and training and compliance.
Dan Mackernan, Associate Director at Davis Coffer Lyons, said: This transaction shows that the beer tie can work with most effect when acting in partnership with the landlord. This allows the new business to spend more time on operational matters rather than worrying about the smaller issues, which if left alone could become larger problems. Both parties will gain from this partnership which we hope to see increasing beer volumes.
There was a good level of interest in this property but it is pleasing to be able to let a public house to a bar operator who will re-establish the venue as a contemporary wet-led public house with live entertainment which will appeal to the towns strong student population.