The Izaak Walton, High Street, East Meon, Petersfield, Hampshire

Freehold £475,000 + VAT
VAT will apply on the sale of this property. It will be levied on the sale price of the freehold at the standard rate on 90% of the purchase price. Purchasers may wish to satisfy themselves with independent professional advice that this VAT may be reclaimed.

LEASEHOLD NIL PREMIUM 
The Landlord will consider the creation of a new lease on the following terms:
- For a term of up to 20 years.
- Protected by Part II Landlord & Tenant Act 1954.
- Assignable subject to Landlord’s consent. Such consent not to be unreasonably withheld.
- The successful applicant will be required to lodge with the Freeholder a deposit equivalent to six months’ rent in advance plus VAT. Personal guarantors will be required if the lease is taken out in limited company.
- A guide rent of £34,000, paid quarterly in advance.
- Subject to rent reviews every fifth year of the term. Annual RPI indexation will be added at a minimum of 2.5% and a maximum of 5% per annum.
- Full repairing and insuring lease.
- Free of all trade ties.
- The Landlord will insure the building and charge the Tenant by way of an Insurance Rent.
Please note that VAT will be payable on rental payments.
The successful applicant will need to contribute £1,500 towards the Landlord’s legal costs.
All negotiation subject to covenant strength. An incoming party will be required to demonstrate sufficient funds to sustain their business model, and will need to demonstrate ingoing capital to cover the premium, rental deposits, stock, working capital and solicitors’ fees as a minimum.
Applicant form and business plan available upon request.
No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.


GROUND FLOOR
Total Floor Area – 306 square metres
Front entrance off High Street into the U-shaped bar area. This comprises two interconnecting trade areas: a LOUNGE BAR and a RESTAURANT. The centrepiece is a long, polished, wooden top BAR SERVERY which could have bar stool seating for around 5.
LOUNGE BAR: a characterful trade space on the west wing, having a mix of wooden floorboards and quarry tile flooring and an open fireplace. This area can seat around 22 customers.
RESTAURANT: situated on the east wing, having fitted carpet and seating for around 30.
TRADE KITCHEN: with nonslip flooring, hygienic wall cladding, a stainless-steel extraction canopy, a wash up area and a storage cupboard.
PREPARATION & WASH-UP KITCHEN: this adjoins the trade kitchen and has nonslip flooring and hygienic wall cladding.
LADIES’ & GENTLEMEN’S TOILETS. BOILER ROOM. On level BEER STORE.