Seafront casino on sale for £1.1m
- Credit: Eastern Daily Press © 2016
A seafront casino has been put up for sale for more than £1m.
Grosvenor Casino, on Marine Parade in Great Yarmouth, is due to reopen on May 17, in line with government guidance.
The venue, a three-storey period building opposite Wellington Pier, has been put on the market by estate agents, Savills, who are seeking offers in excess of £1.1m.
There will be a new lease in place to Grosvenor Casinos for a term of ten years, with the tenants paying an annual rent of £95,000.
According to a document published by Savills, turnover in 2018/19 was £215,832, while in 2019/20, it was £180,977.
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A spokesperson for Grosvenor Casinos said: “We are fully committed to keeping our casino open in Great Yarmouth which is a valuable part of the Grosvenor estate.
"As part of an ongoing review of various sites, we are exploring ways to optimise our property portfolio mix, but would like to reassure customers and colleagues that the casino is here to stay and we’re excited about the prospect of reopening when lockdown restrictions are eased in a few weeks time.”
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