10 bedroom hotel for saleHAMPSHIRE
REF: 7820 LEASEHOLD
SUPERBLY POSITIONED AND PRESENTED 10 BEDROOM 'FREE OF TIE' HOTEL WITH BAR, RESTAURANT AND FUNCTION FACILITIES LOCATED WITHIN A LEAFY SUBURB OF SOUTHAMPTON, HAMPSHIRE
• Pleasant and quiet location in a leafy suburb of Southampton, albeit within easy reach of the city and port.
• Modern Lounge Bar/Dining Area (circa 50) offering bar servery, feature fireplace and carpets.
• Delightful Restaurant/Breakfast Room/Function Room (circa 40) with access to the Patio Garden.
• 10 En-Suite Letting Bedrooms - excellently presented.
• Mature and enclosed Patio Courtyard Garden with seating for 60 customers.
• Popular Wedding and Function Venue!
• Advised turnover circa £381,908 (incl. VAT) for year ending 09/15 with a trade split of 50% letting, 25% wet and 25% food with a recon net profit of £58,777. On target to match y/e 09/16.
• 9 years remaining on a free of tie renewable lease with a rent of £40,000.
AN EXCELLENT OPPORTUNITY TO ACQUIRE A THRIVING 10 BEDROOM HOTEL
This outstanding business is located on Northlands Rd, a leafy and quiet suburb of Southampton, Hampshire.
Southampton is located on the south coast of England and is the largest city in the county of Hampshire.
It is 75 miles south-west of London and 19 miles north-west of Portsmouth.
Southampton is a major port for both commercial and leisure and many cruise ships start their journey from the port.
This city is the closest one to The New Forest and lies at the northernmost point of the Southampton Water.
As most cities, Southampton is a bustling and lively destination and houses the University of Southampton along with the Premiership Football Team.
The population according to the 2011 census is in the region of 250,000.
This lovely Hotel with Restaurant and Bar is of brick construction, with partial rendering, under a pitched, tiled roof, occupying a quiet position on Northlands Rd.
A pleasant Entrance Lobby greets the guests as they enter this imposing property.
The Lounge Bar/Dining Area (circa 50) is a modern and well-presented room benefitting from a bar servery area, carpeted flooring and feature fireplace. There is also a small Stage Area.
The Restaurant/Breakfast Room/Function Room (circa 40) offers direct access to the Patio Courtyard Garden and has a bar server and carpeted flooring. This room along with the garden has hosted a wide range of weddings, parties and functions.
Ladies and Gents W.C.'s + disabled facilities.
There is a well-equipped Commercial Catering Kitchen with stainless steel appliances (not tested) and work surfaces along with a dry store.
The current operators do not live on the premises but there are opportunities to create living accommodation within the premises.
Situated on the 1st and 2nd floors are 10 En-Suite Letting Bedrooms all being offered in excellent condition. The 10 rooms offer 7 Double/Twins, 2 family Rooms and a Single Room. The prices range from £64 to £84 per room per night.
To the rear of the building is a lovely Mature and Enclosed Patio Courtyard Garden for 60 customers.
To the front of the property is a car Park for 10 cars.
TRADING & LICENSING
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 10am - Midnight
Current opening hours are:
Sun - Thursday Midday 11pm
Fri - Sat Midday - Midnight
NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House.
The business is offered for sale as a lease assignment with approximately 9 years remaining of the Enterprise Inns' full repairing and insuring, renewable agreement. We are advised that the inn is free of tie and the annual rent is £40,000 to be reviewed in 2020. We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium - subject to the provision of the Landlord & Tenant Act 1954. We are advised that the inn benefits from mains services (no services seen or tested). Business rates payable are advised as currently being circa £9,240 per annum.
The current owners purchased the business in May 2012 and have made significant improvements throughout the property which is now presented to a very high standard. Our clients have just started a young family and are looking to sell the business due to family commitments. Our vendors have a thriving business that already offers approx. £25k of letting turnover for next year already booked in and is a popular function venue. We are advised that accounts declare takings of circa £381,908 inclusive of VAT for year ending 09/15 with a trade split of 50% letting, 25% wet and 25% food.
Accounting information will be made available to interested parties after viewing.
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.
VIEWING: All appointments must be made through Guy Simmonds. Please note that these Sales Particulars are issued on the strict basis that all negotiations, viewings and contacts in connection with this business are conducted through Guy Simmonds who are appointed by the vendor to act under a Sole Selling Rights agreement with total confidentiality. Any breach of these terms may make you liable in law to litigation and damages. Under no circumstances must you approach the owner direct without a formal appointment or disclose to other customers and staff that the Premises are for sale.
FINANCE FOR PURCHASING A LICENSED PROPERTY: We are in constant touch with a leading finance broker who specialises in arranging Business Finance for Licensed Properties. Whether you are purchasing a Licensed Property through ourselves, or another agent, we will be pleased to contact on your behalf our specialist who can arrange the necessary Finance Package for you at preferential rates. Please telephone for free and no obligation advice with regards to financing a Business.
Guy Simmonds for themselves and for the vendors or lessors of this property and/or business whose agents they are give notice that:-
(I) These particulars are a general outline for the guidance of intending purchasers (or lessees) and do not constitute an offer or contract, nor any part of an offer or contract.
(II) All descriptions, dimensions, distances, maps/plans, references to condition, trading figures and other items in these particulars are given as a guide and no responsibility is assumed by Guy Simmonds for the accuracy of individual items. Intending purchasers (or lessees) should not rely on them as statements of representations of fact and should satisfy themselves as to the correctness of each item by making independent enquiries.
(III) Intending purchasers (or lessees) should make their own independent enquiries regarding the use of the property, necessary permissions for use and occupations, potential uses and any other matters affecting the property prior to purchase.
(IV) Guy Simmonds do not make or give whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to this property. No responsibility is taken by Guy Simmonds for any error, omission or mis-statement in these particulars. Guy Simmonds do not warrant the accuracy of any accountancy information supplied and purchasers are advised to take independent advice in order to satisfy themselves.
(V) Guy Simmonds are unable to give any warranty as to the working order of any apparatus, equipment, fittings or services associated with the premises and therefore, cannot verify they are in full working order. Purchasers are strongly advised to obtain specialist reports prior to exchange of contracts in order to satisfy themselves.
(VI) All statements and descriptions are made without responsibility or warranty by Guy Simmonds, the vendors or lessees. Neither do Guy Simmonds nor the vendors/lessees hold ourselves responsible for any expenses whatsoever incurred by applicants inspecting Businesses which may be sold or withdrawn, to include travelling, valuation/survey, legal fees etc.
(VII) No person in the employment of Guy Simmonds has any authority to make or give any representation or warranty whatever in relation to this property.
(VIII) It should not be assumed that the contents of any photographs are included in the sale.
(IX) All prices quoted are excluding stock at valuation.
Energy Performance Certificates (EPCs)
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