2 High Street (T/A Pi Pizza), Poole Quay, Poole, BH15 1BW

Description
The two-storey property occupies an end-terrace location on The Quay with a long return frontage to High Street. The property is of traditional brick construction with painted elevations and wood fenestration under a pitched slate roof with dormer windows. Pavement seating is available on both The Quay and High Street frontages (subject to licensing status).

The property has recently been reconfigured to provide an open plan ground floor customer area (30) with a bar servery and bespoke open plan pizza kitchen area with fitted Valoriani gas fired pizza oven. Ancillary space includes cellar, storage and accessible WCs. The first floor benefits from dual stairwell access to front and rear and is configured to provide a larger customer area (58) with the front section having waterside views. Located centrally is a second open kitchen with a separate service kitchen with storage behind.

The second floor is accessed internally and comprises four rooms and an office. There is scope to reconfigure, subject to the necessary consents.

With the exception of the second floor, the property has been extensively refurbished to a high standard and benefits from recent infrastructure and services improvements.

Location
Poole is a large coastal town and port located on the south coast of England. Poole has an estimated population of 151,500 (mid-2016 census); the wider BCP district has an estimated population of 465,000. The town has one of the world’s largest natural harbours, accommodating cross channel ferry services as well as proximity to numerous Blue Flag beaches. The property occupies a prominent location on the front of Poole Quay which is just south of the main commercial centre. Within close proximity is Poole Museum and a substantial number of pubs, restaurants, cafes and hotels including Rockfish, St TrOpez Lounge and Bistro Du Vin. Poole Harbour historically benefits from high increases in visitor numbers with the natural amenities of the Harbour being one of the areas most popular attractions.

The area is administered by Bournemouth, Christchurch and Poole Council.

The Business
The business has most recently been operated by Pi Pizza, an independent restaurant group. No financial information or warranties will be provided.

Premises Licence
The property benefits from a premises licence that permits various activities including the sale of alcohol 11.00 – 00.00 Monday to Sunday.

Fixtures & Fittings
We understand that the extensive inventory of fixtures and fittings may purchased subject to negotiation.

Tenure
Freehold. The property is available freehold with vacant possession.

The property was most recently held on the remainder of 10.5 year fully repairing and insuring lease expiring on 24th March 2032 outside of the provisions of the Landlord & Tenant Act 1954 (Part II). The rent passing is Year 1 £40,000 per annum exclusive (pax) with stepped increases at Year 2 £50,000 pax, Year 3 £60,000 pax, Year 4 £70,000 pax and Year 5 £80,000 pax. Rent review clauses provide for RPI indexation.

Price
£850,000 for the freehold interest. VAT and Stamp Duty Land Tax may apply.

Rating
The subject property is entered on the 2017 Rating List with a Rateable Value of £46,300 with a reduction to £31,400 from the effective date of 1 April 2023.
The small business 2022/2023 49.9p/£. Please refer to the Government website for the latest rates information.

Planning & Conservation
We understand the premises has historically traded as a public house and most recently as a restaurant and bar business. The building is Grade II listed and located in the Town Centre Heritage Conservation Area.

EPC
The property has an C-67 Energy Performance Asset Rating.

Viewings
Viewings can be arranged strictly by appointment via to sole selling agents, Savills. Please do not approach the business directly, particularly if visiting the property for a discreet customer visit in the first instance.