22 London Street, Basingstoke, RG21 7NY
Offers in Region of
£995,000
£167.73 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
5,932 sq ft
551 sq m
- SECTOR
High street retail property for sale
Key features
- Substantial freehold property in pedestrianised area of Basingstoke town centre
- Overall approximate GIA of 5,932 FT2 (551 M2) arranged over ground, first and second floors
- Currently configured and trading as a late night bar venue (licensed until 04:00am)
- Well-presented 2-bedroom living accommodation on top floor
- Freehold Offers In The Region of £995,000
- May suit alternative uses (subject to planning permissions)
Description
Description
The property comprises two distinct connected buildings occupying a prominent end/corner terrace position. The property facing London Street is three storeys above street level with painted and rendered elevations under a pitched roof. On the long return frontage to May Place is a connected two-storey exposed brick facade property under a pitched roof.
Location
The property is situated in the large town of Basingstoke which is 50 miles south-west of London, 20 miles south of Reading and 21 miles north-east of Winchester. The property occupies a prominent town centre location at the eastern end of the pedestrianised London Street at the junction of May Place less than 100 yards from Central Car Park. The southern entrance to Festival Place is 0.2 miles to the north-west. The immediate area comprises a typical mix of high street retail, hospitality and commercial; the 60-bed Red Lion Hotel is adjacent.
Transport links in the locality are good with Junction 6 of the M3 within 1.5 miles and the Basingstoke Mainline Railway Station 0.5 miles to the north (with regular direct services to Southampton in 33 minutes and London Waterloo from 42 minutes). Basingstoke & Deane have an estimated population of 185,200 (2021 Census).
Internal Accommodation
The property currently trades as a hospitality venue with private living accommodation. The ground floor comprises and open plan bar with small kitchen , storage and WCs. At first floor level is a bar and late night venue (maximum floor to ceiling height 3.7m) with bar-servery and WCs.
Living Accommodation
Private living accommodation is located on the second floor and provides two-bedrooms, reception, kitchen and bathroom.
External Areas
Located to the front at street level is an external trade terrace.
The Business
The property currently operates as the Royal Exchange on the ground floor, with Harry’s Bar, a late night venue trading on the first floor. Our clients are seeking to retire after 17 years as owners and operators. The sale will be with vacant possession upon completion.
Tenure & Price
Freehold. The property is for sale freehold with vacant possession. The guide price is £995,000 and VAT will be applicable.
Business Rates & Services
The 2023 Rateable Value is £17,500. This is not the rates payable (the small business multiplier is 49.9p/£). We understand all mains services are connected.
Planning & Conservation
Parts of the two rear properties are Grade II listed which will be pertinent to the property for sale. We understand the established planning use is Sui Generis (public house) with C3 (residential upper) under the Town and Country Planning (Use Classes) Order 1987 (as amended). We do recommend parties make their own enquiries.
Licensing
The property has been granted a Premises Licence in accordance with the Licensing Act 2003. The premises is permitted to sell alcohol under the following hours:
Friday to Saturday - 10:00 - 04:00
Monday to Thursday - 10:00 - 02:00
Sunday - 11:00 - 02:00
Fixtures & Fittings
All fixtures and fittings owned outright are included as part of the sale price. Stock may be acquired in addition upon completion (if needed).
Energy Performance Rating
The EPC is pending.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.
Viewing
All viewings must be arranged strictly by appointment with the sole agents Savills. Please do not approach the business directly.
The property comprises two distinct connected buildings occupying a prominent end/corner terrace position. The property facing London Street is three storeys above street level with painted and rendered elevations under a pitched roof. On the long return frontage to May Place is a connected two-storey exposed brick facade property under a pitched roof.
Location
The property is situated in the large town of Basingstoke which is 50 miles south-west of London, 20 miles south of Reading and 21 miles north-east of Winchester. The property occupies a prominent town centre location at the eastern end of the pedestrianised London Street at the junction of May Place less than 100 yards from Central Car Park. The southern entrance to Festival Place is 0.2 miles to the north-west. The immediate area comprises a typical mix of high street retail, hospitality and commercial; the 60-bed Red Lion Hotel is adjacent.
Transport links in the locality are good with Junction 6 of the M3 within 1.5 miles and the Basingstoke Mainline Railway Station 0.5 miles to the north (with regular direct services to Southampton in 33 minutes and London Waterloo from 42 minutes). Basingstoke & Deane have an estimated population of 185,200 (2021 Census).
Internal Accommodation
The property currently trades as a hospitality venue with private living accommodation. The ground floor comprises and open plan bar with small kitchen , storage and WCs. At first floor level is a bar and late night venue (maximum floor to ceiling height 3.7m) with bar-servery and WCs.
Living Accommodation
Private living accommodation is located on the second floor and provides two-bedrooms, reception, kitchen and bathroom.
External Areas
Located to the front at street level is an external trade terrace.
The Business
The property currently operates as the Royal Exchange on the ground floor, with Harry’s Bar, a late night venue trading on the first floor. Our clients are seeking to retire after 17 years as owners and operators. The sale will be with vacant possession upon completion.
Tenure & Price
Freehold. The property is for sale freehold with vacant possession. The guide price is £995,000 and VAT will be applicable.
Business Rates & Services
The 2023 Rateable Value is £17,500. This is not the rates payable (the small business multiplier is 49.9p/£). We understand all mains services are connected.
Planning & Conservation
Parts of the two rear properties are Grade II listed which will be pertinent to the property for sale. We understand the established planning use is Sui Generis (public house) with C3 (residential upper) under the Town and Country Planning (Use Classes) Order 1987 (as amended). We do recommend parties make their own enquiries.
Licensing
The property has been granted a Premises Licence in accordance with the Licensing Act 2003. The premises is permitted to sell alcohol under the following hours:
Friday to Saturday - 10:00 - 04:00
Monday to Thursday - 10:00 - 02:00
Sunday - 11:00 - 02:00
Fixtures & Fittings
All fixtures and fittings owned outright are included as part of the sale price. Stock may be acquired in addition upon completion (if needed).
Energy Performance Rating
The EPC is pending.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.
Viewing
All viewings must be arranged strictly by appointment with the sole agents Savills. Please do not approach the business directly.
Brochures
22 London Street, Basingstoke, RG21 7NY
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Basingstoke Station0.4 miles
- Bramley (Hants) Station4.8 miles
About Savills, Southampton - Licensed Leisure
Savills, Mountbatten House,1 Grosvenor Square Southampton SO15 2BZNotes
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