Addington, the investment and asset manager has secured The Burning Night company for the former Brannigan’s site in Broad Street, Birmingham, creating a prime leisure venue.
The Burning Night company has agreed to bring its leading leisure brands to the the site in Broad Street and will open as a giant bierkeller and sports bar in a major boost for a key leisure and entertainment area of the city.
The Leeds-based leisure group, which operates Bierkeller, Around the World, and Shooters Sports Bar, has agreed a 15-year lease at an annual rent of £190,000 for the 22,000 sq. ft. site. National commercial property consultancy Lambert Smith Hampton (LSH), acting on behalf of the landlord helped to attract the company to the city for the first time.
The building is owned by EPI Special Situations 3 (EPISO3), a fund advised by Tristan Capital Partners, and Addington Capital. EPISO 3 and Addington acquired the building in 2014 as part of Project Tree, a £150 million portfolio of high street retail, office and residential, which Addington has subsequently been actively asset managing.
The venue has been vacant since Branningans closed its doors in 2013 and Addington has since stripped the property back to the shell so that it is ready for fit out. The Burning Night Group is now making a major investment in refurbishing the venue, ready for opening later this year.
Alex Wagstaff, partner at Addington, said: “We are very pleased to welcome The Burning Night Group to Birmingham. It is a superb venue for any ambitious leisure group and it promises to provide something new and vibrant to the already busy Broad Street night life experience.
We have worked hard to provide an attractive site to this exciting new company, which is making its first investment in the city.”
The Burning Night Group, which runs pubs and bars in Leeds, Liverpool, Manchester and Cardiff, will accommodate all three of its brands under one roof at its new Birmingham home.
National commercial property consultancy Lambert Smith Hampton (LSH) and Fleurets, acted on behalf of the owners to help attract the company.
The agents commented: “This is a premium venue in a very popular nightspot in the city centre. The night-time economy is vital and with the footfall in the area calculated at many millions of people each year, opening a new venue of this calibre is a major boost to the leisure offering in Broad Street.”
