Pub chain Mitchells and Butlers is to close its All Bar One branch in Pavilion Gardens in late September.
The company refurbished the bar just two years ago after a fire in November 2020.
The premises is on the market with the estate agency Fleurets – as is the leasehold for the entire building which includes two floors of offices.
Anyone who takes on the ground floor bar with basement – free of tie – can expect to pay £150,000 a year while the rent for the entire building is £250,000 a year.
As well as the departing bar chain, the building includes two floors of offices. The first floor is occupied but the second floor is vacant and also on the market.
The first-floor offices are occupied by the international public policy consultancy Techopolis which pays £42,000 a year.
The building comes with 14 car parking spaces, six of them for the pub.
The freehold is owned by Brighton and Hove City Council which let the whole building on a 125-year lease 11 years ago.
The lease, with just under 114 years remaining, is being marketed for £2.65 million. With a rateable value of £77,800, the business rates for the entire building are understood to be just over £42,000 a year.
The bar is just off North Street and yards from the Royal Pavilion, with a drinks licence until midnight seven days a week.
The building is not listed, Fleurets said, but it is in a conservation area.
Fleurets said: “No trading information is available but this is a prime city centre site and has traded well for many years.”
Mitchells and Butlers (M&B) recently announced trading results for the quarter – or 13 weeks – to Saturday 20 July.
The company said that like-for-like sales were up 4.2 per cent across its entire estate, with the Euro 2024 football tournament believed to have boosted drink sales.
M&B runs a number of pubs and bars in the Brighton and Hove area including the Grenadier, in Hangleton, the Sussex, on Hove seafront, the Sportsman, at Withdean Stadium, Miller and Carter, in Patcham, and the pub at the Devil’s Dyke.
