Luminar puts Bolton club up for sale

LUMINAR Leisure has put a nightclub complex up in Bolton town centre up for sale with an asking price of £1.5m.

The property, which houses the Jaxx bar and the Ikon nightclub, is one of four being sold by surveyor Gerald Even on behalf of Aim-listed Luminar. The 26,791 sq ft building was originally built in the 1920s as a dance hall. The other clubs up for sale are in Birmingham, Romford and Kingston-upon-Thames, and it hopes to raise a total of £4m through the disposals.

Luminar is attempting to cut its debt pile of £100m after reporting a pre-tax loss of £123.1m earlier this year following the collapse of 3D Entertainment Group in which it had a 49% stake.

Last month, the firm announced that sales for the first half of 2010 are likely to be 20% lower than in 2009.