Luminar instructs Gerald Eve to sell five sites

Nightclub company Luminar has appointed agent Gerald Eve to sell five sites.

The sites include the freehold of 150-154 Church Street, a 65,475 sq ft block in Preston with predominantly vacant possession, which is on the market for £1.5m.

The agent has also been instructed to sell nightclubs for Luminar in Birmingham, Bolton, Kingston-upon-Thames and Romford.

The Preston land is expected to receive a lot of interest following a Lend Lease-led partnership in November gaining consent from the Government, for its Tithebarn mixed-use regeneration of more than half of Lancashire city's centre.

The site contains a number of uses and is dominated by the former Odeon Cinema which has been vacant for over 18 years, and the 22,783 sq ft Lava & Ignite Nightclub which has a current capacity of 1,850 people and is set predominantly underneath the 40,000 sq ft cinema.

"This property will appeal to a wide range of developers, investors and owner occupiers given the Tithebarn inspired buzz of excitement," said Gerald Eve leisure partner Chris Ford.

"Consideration will also be given to a short term leaseback of the Night Club premises, currently trading as Lava & Ignite and the first and second floor offices at 153 / 154 Church Street.