7911L

HIGHLY DESIRABLE RESTAURANT/WINE BAR/CAFÉ FOR SALE

7911L

  • Excellent High Street position within this sought after Hampshire seaside village.
  • Restaurant/Café/Bar/Bistro Area (circa 40 covers) offering solid wood floors, log burner and bar area.
  • Upper Dining Area (circa 16) with tiled floors and open kitchen area.
  • Lovely Sun Room (circa 16) with access to the garden.
  • Courtyard Terrace Area (circa 20 covers).
  • 1 Bedroom Living Accommodation available on separate negotiation.
  • We are advised that the turnover over the past few years has averaged at £4-5,000 pw (inc VAT).
  • Freehold or Lucrative 'Free of Tie' Lease with an option to purchase and a rent of £25k pa.
SUPERB HAMPSHIRE FREEHOLD VILLAGE RESTAURANT/WINE BAR AVAILABLE AS A LEASE IF REQUIRED

ASKING PRICE £450,000 FREEHOLD or £15,000 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This superbly positioned Restaurant / Bistro / Café / Bar is located on the High Street of Milford On Sea.

Milford On Sea is a large seaside village and civil parish on the South Coast of England, within the county of Hampshire.

This highly desirable village sits on the banks of the Solent and on a clear day offers views of the Needles on the Isle of Wight along with Christchurch and Bournemouth.

According to the 2011 census the village has a population of 4,660 residents that is greatly swelled during the summer months with a huge number of holiday makers.

THE PROPERTY

This freehold multi-purpose High Street property is of brick construction, under a pitched, tiled roof, occupying an excellent prominent High Street position in the heart of this desirable seaside village.

The Restaurant/Bistro/Café/Bar (circa 40 covers) is a lovely room with a warm and friendly feel offering a bar servery, solid wood floors, log burner fireplace and wood panelling.

The Upper Dining Area - 4 steps (circa 16) benefits from tiled flooring and an open kitchen giving it a unique feel.

The Sun Room (circa 16) is an independent room that is located next to the Courtyard Garden and is ideal for private parties.

Ladies and Gents W.C.'s.

There is a Commercial Catering Kitchen with stainless steel appliances and work surfaces (appliances not tested) along with a Walk In Fridge.

OWNERS ACCOMMODATION

There is currently no living accommodation with the property although our vendor has planning consent for a Studio Flat that could be built for the new lessees. Our vendor owns the property above and would allow the vendors to rent a Double En-Suite Room on separate negotiation if necessary.

EXTERNAL

To the rear of the property is a Courtyard Terrace Garden Area with seating for 20.

There are storage sheds and a utility area.

TRADING HOURS

We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:

7 days per week 11am - Midday

Current opening hours are:

Thurs - Sat 6pm - 10pm

Sunday Midday - 4pm

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the NCPLH Qualification in readiness for their intended operation of the Public House.

GENERAL REMARKS

The business is offered for sale as a freehold (although we have not had sight of the title deeds) or as a new highly favourable 10 year Private FRI Lease Agreement as follows:

1. The asking premium will be £15,000.

2. The initial rent will be £25,000.

3. The annual rent is simply RPI linked to inflation every 3 years, hence no market rent reviews.

4. Rent payable quarterly in advance.

5. Lease assignable after initial 2 year period.

6. Free of all brewery and supply ties.

7. Each party responsible for own legal fees relating to the transaction.

8. We are advised that our vendor client would be agreeable to insert an 'Option to Purchase' clause within the lease agreement, to enable the lessee to subsequently purchase the freehold element at a price to be mutually agreed.

We are advised that the inn benefits from all mains services and is heated by gas central heating. (no services seen or tested). Business rates are advised as currently being £6,000 payable.

THE BUSINESS

The current owner bought the business 9 years ago and after trading the business for a short time has leased the business for the past 5 years.

This business has many possible uses with a restaurant, bar, café, bistro or retail to name but a few.

We are informed that the previous lessee averaged approx. £4-5,000 turnover per week but no accounts are available.

This business was viewed by Marc Blackford who would be delighted to discuss further details and can be contacted on 07812 753014.

Viewing appointments must be made by contacting Guy Simmonds on 01332 865112.

ADDITIONAL IMAGES

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