On behalf of a private client, national property consultancy Carter Jonas has sold the site of Bristol’s popular Mbargo nightclub in the Clifton Triangle area of the city. Following a competitive bidding process, the 8,401 sq ft freehold property, arranged over four levels, was sold for £1,360,000 against a £925,000 guide price.
Located at 38-40 Triangle West, the property has operated as a licenced premises for more than 25 years. Its prime location in the heart of the fashionable Queen’s Road shopping and leisure area has made it a desirable destination for students and locals. In recent years, the area has become synonymous with the University of Bristol’s extensive city campus.
Carter Jonas’ Bristol commercial team was instructed to sell the property in April this year. The firm’s successful marketing campaign attracted a large volume of interest and viewings. Following the best bids process the property was sold to Matterhorn Investments Ltd, advised by Street Property Consultants. It is understood that Matterhorn Investments plans to continue running the premises as a nightclub under the same name.
Stuart Williams, Partner, Commercial, Carter Jonas Bristol, said: “Triangle West, with its’ Clifton address, is one of the most popular locations in Bristol’s night-time economy, and its neighbouring streets are some of its most iconic and recognisable shopping locations. These factors meant the site presented a great opportunity to investors looking for a visible presence in the city. We received a huge amount of interest from potential buyers, and we are pleased to have secured a sale over the guide price with the purchase completing in just four weeks.”