Restaurant for sale

HAMPSHIRE

£65,000

Property Description

Full description

Tenure: Leasehold

Ref 7830 LEASEHOLD

IMPOSING MODERN CONTEMPORARY RESTAURANT AND BAR OFFERED ON A HIGHLY DESIRABLE PRIVATE 'FREE OF TIE' LEASE SITUATED IN THE AFFLUENT AND HISTORIC MARKET TOWN OF ALTON, HAMPSHIRE


Attractive and substantial Restaurant and Bar located in the highly sought after and historic market town of Alton, Hampshire.

Inviting Lounge Bar (circa 15+) and a versatile and multi-functional Restaurant (circa 50+ covers).

Wealth of charm and character and presented in excellent decorative order throughout.

Highly impressive 5 Bedroomed Family Accommodation.

Well-equipped Commercial Catering Kitchen.

Advised sales for Y/E May 2016 circa 230,000 (incl. VAT).

Trade split circa 70% food and 30% wet sales.

Operating on dramatically reduced hours.

Private FREE OF TIE renewable lease with approximately 15 years remaining.

IDEAL FIRST TIME BUY.

AN INCREDIBLE OPPORTUNITY TO ACQUIRE A SUCCESSFUL AND WELL ESTABLISHED BUSINESS AND FAMILY HOME OFFERING IMMENSE POTENTIAL


LOCATION
This outstanding business is situated in the highly sought after and historic market town of Alton in the glorious county of Hampshire and can be easily reached from the A31/A32 near Alton.
Situated within the commuter belt being approximately ONLY 40 miles from the capital city of London and also having excellent road communications, providing easy access to the M25, M3 and M1 motorways making this superb location an extremely popular commuter area for the major motorways and the major international airports of Heathrow and Gatwick. This delightful bar and restaurant is ideally situated to draw trade from Winchester, Basingstoke, Farnham and Alton itself and also attracts a desirable clientele emanating from the affluent nearby surrounding towns and villages and has an excellent level of repeat trade. A compelling business opportunity and an enviable place to reside.

THE PROPERTY
This attractive and substantial property occupies an excellent trading position within this extremely busy commercial market town.

Main entrance at the front leading into the Lounge Bar.

Lounge Bar (circa 15+) is a welcoming and relaxing room having a feature return bar servery with a solid polished counter and matching mirrored back fitting with shelving and refrigerated bottle coolers (not tested) complemented by a range of loose polished tables, upholstered chairs and leather sofas. Adding to the charm of this room is the attractive exposed brick walling, the wooden floor and the open fireplace (currently unused). Access to the Restaurant.

Restaurant (circa 50+ covers) is a good sized modern contemporary room exuding an inviting ambience and is well furnished with an excellent range of solid polished tables and upholstered chairs. Adding to the delightful character of this room is the lovely wooden flooring. Access to the Beer Garden.

This room is versatile in its usage being ideal for weddings, private functions and wakes etc for which there is huge demand within the area.

Catering facilities include a well-equipped Commercial Kitchen with stainless steel appliances and preparation surfaces (appliances not tested). There is also a freezer/dry good store.

Ladies and Gents W.C.'s.

OWNER'S ACCOMMODATION
Situated on the 1st and 2nd floors, being of a good size and presented in excellent decorative order and briefly comprises: 5 bedrooms, lounge, kitchen, shower room and bathroom.

EXTERNAL
There is an enclosed Beer Garden at the rear with tables and chairs. There is also an additional unused garden area at the rear of the Beer Garden.

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:

Monday - Sunday - Midday - Midnight

The current opening hours are as follows:

Monday - 6.00pm - 9.00pm
Tuesday - Thursday - Midday - 2.30pm & 6.00pm - 9.00pm
Friday & Saturday - Midday - 2.30pm & 6.00pm - 10.00pm
Sunday - Midday - 2.30pm & 6.00pm - 9.00pm

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.

GENERAL REMARKS
The business is offered for sale as a lease assignment with approximately 15 years remaining of the private Free of Tie full repairing and insuring, renewable agreement. We are informed that the rent is currently 26,000 per annum.
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 all mains services (no services seen or tested).
Business rates payable are advised as currently being circa 3539.00 per annum.

THE BUSINESS
Our vendor client operates this excellent business as a 'sole trader' on a full time basis with the assistance of 2 full time and 10 part time/casual staff. Trade is currently derived from circa 30% wet and 70% food sales, thereby providing ample scope for a new hands-on owner operator partnership with previous experience of running a catering orientated operation to take this business to even greater heights and also focussing on a strategic and extensive marketing campaign to further promote the premises for private functions and wakes etc. There is also immense potential due to the high level of footfall and passing trade emanating from the exceptionally busy local commercial businesses and shops by extending the dramatically reduced trading hours and facilitate early opening hours to provide coffee and breakfast etc; which would have an incredible positive impact on the turnover and profits.
This is truly an exciting business opportunity for those seeking an alternative career from the stress and strife of the City.
Advised sales for Y/E May 2016 circa 230,000 (incl. VAT). This delightful restaurant and bar is a well-established and successful business and in our opinion with the above areas of potential we would quite easily expect a fully focussed and fully committed operator to achieve a turnover well in excess of 300,000 per annum (incl. VAT).
Accounting information will be made available to interested parties after viewing.
This business was viewed by Martin McConnell who would be delighted to discuss further details and can be contacted on 07970 213549.
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)

Nearest stations

  • Alton (0.2 mi)
  • Bentley (5.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds, National Licensed Property Agents

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448091 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Alton (0.2 mi)
  • Bentley (5.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds, National Licensed Property Agents

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448091 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 7830. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Guy Simmonds, National Licensed Property Agents. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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