Former Slug Lettuce, 23-26 High Street, Newport, PO30 1SS

Description
The property comprises a substantial detached public house and bar at ground floor level. The building is constructed with brick and rendered elevations beneath a combination of pitched and flat roofs.

The property benefits from an extensive frontage of approximately 22.8 metres (75 ft) to High Street, together with two private alleyways providing rear access. The upper floors have largely been sold on a long leasehold basis and are occupied separately.

Location
Located in Newport, the principal town of the Isle of Wight, the property is situated approximately 4.5 miles (7.2 kilometres) south of Cowes, 7 miles (11.3 kilometres) south west of Ryde and 10 miles (16.1 kilometres) north of Sandown.

The property occupies a prominent position on High Street, opposite Newport Town Hall and within the town’s established commercial centre. Nearby occupiers include a range of national retailers, independent businesses, restaurants and licensed premises. Newport benefits from good road connectivity via the A3020 and A3054, providing access to the wider Island.

Tenure
Freehold under Title Number IW13699. The majority of the upper floors have previously been sold on a long leasehold interest for a term of 999 years at a peppercorn rent.

Opportunity
The opportunity exists to refurbish and reposition the venue by an enterprising owner operator or indeed corporate buyer. The venue is ideally positioned to capture trade.

Planning
The property is not listed however it is situated within the Newport Conservation Area.

EPC
D-100

Terms
Offers in the order of £350,000 + VAT, with vacant possession.

Fixtures & Fittings
The property will be sold in its current condition, including fixtures and fittings (less branded and leased items). No inventory schedule will be provided and instead all items left on the day of completion will be included.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.

Viewings
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff. For further information and all viewing requests please contact the sole selling agents Savills.