The Royal Exchange, 22 London Street, Basingstoke, RG21 7NY

Description
The front section comprises two distinct connected buildings occupying a prominent end-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).

Availability_text
The accommodation comprises the following areas:

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 rateable value is £17,500. This is not the rates payable (the small business multiplier is 49.9p/£). All mains services are available.

Planning & Conservation
Parts of the two rear properties are Grade II listed. 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).

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 furniture currently displayed is included in the sale.

Energy Performance Rating
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.