A live music venue in Manchester which has played host to the Beatles and the Smiths is to be sold.
Belfast-based property company Benmore has instructed Savills to find a buyer for the HMV Ritz on Whitworth Street in Manchester city centre.
Benmore is seeking £3.4m for the nightclub, reflecting a net initial yield of 7%.
The Ritz will continue to be used as a music venue. In July, Benmore agreed a 25-year lease on the 23,000 sq ft club to live music operator Mean Fiddler Group. Mean Fiddler is a subsidiary of MAMA Group, which was bought by retailer HMV in 2009 in a £46m deal.
The Ritz began life in the 1920s as a ballroom, and is well known for its original, springy dancefloor. It was managed during the 1960s by the late Jimmy Savile, and bands including the Stone Roses, REM, Happy Mondays and Arctic Monkeys have played concerts at the venue.
daniel.cunningham@estatesgazette.com
