Property Details

RESTAURANT TO LET/FOR SALE - Lymington

C6584-Lanes
For Sale - Available
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Property ID: C6584-Lanes

For Sale £45,000 p.a.
OLD LIBRARY HOUSE • 4 DEAN PARK CRESCENT • BOURNEMOUTH BH1 1LY
TELEPHONE: 01202 551 821 • FAX: 01202 557 310 • DX 7614 BOURNEMOUTH
www.ellis-partners.co.uk
ALSO AT BRIGHTON
Ellis and Partners Ltd No. 04669426.
Ellis and Partners (Bournemouth) Ltd No. 6522485. Ellis and Partners (Brighton) Ltd No. 6522566
Registered in England and Wales. Registered Office: 4 Dean Park Crescent, Bournemouth, Dorset BH1 1LY

Features

  • Established restaurant/bar
  • Freehold can be purchasd
  • Ground and first floors and second floor ancillary and stores
  • Located just off the High Street

Address

  • Lanes of Lymington, Ashley Lane, Lymington, Hants, SO41 3RH

SITUATION AND DESCRIPTION
The affluent market town of Lymington is situated on the southern edge of the New Forest National Park midway between Bournemouth and Southampton

The High Street is the main shopping area in the town where there is a healthy mix of both local and national occupiers. The subject property, which we are advised was formerly a church and school, is located just off the High street in a cul de sac. The cul de sac is located opposite the Costa Coffeee in the High Street.

The accommodation is arranged over 3 storeys. The ground floor includes a sizeable bar and waiting area, restaurant seating plus male and female cloakrooms. The first floor comprises further restaurant seating and kitchens and preparation areas and the second floor is ancillary office and storage.

ACCOMMODATION
Ground Floor
Restaurant seating, bar and waiting area, male and female cloakrooms
Width 40’00” (12.1m)
Depth 30’00” (9.1m)
Gross Internal Floor area: 1,100 sq.ft. (102 sq.m.)

First Floor
Restaurant seating and kitchens and food preparation area.
Gross Internal Floor area: 820 sq.ft. (76 sq.m.)
(potential to increase the seating area if required)

Second Floor
Ancillary stores and Office 200 sq.ft. (18.5 sq.m.)

Total Gross Floor Area 2,120 sq.ft. (196 sq.m.)

PLANNING
Long established use as a licenced restaurant and bar
This property falls within Class E Commercial Businesses and Services, which include A1 retail, A2 office, A3 Catering, B1 Light Industrial, Indoor sports and Medical use, crèche/day nursery

PREMISES LICENCE
Licence No. 994/2
Sales of alcohol, provision of live and recorded music, films or sporting events.

A copy of the premises licence is available upon request.
Further enquiries to New Forest District Council

THE BUSINESS
Lanes of Lymington has been trading for approximately 16 years providing. The restaurant currently has between 45 / 50 covers but potential to have more covers if required. Husband and Wife working full time and 7 / 8 part time staff,
Tuesday to Saturday 1130 to 1400 and 1800 to 2100
We have had sight of trading accounts which show a turnover of £352,000 for the year ending March 2022 with an adjusted Net Profit of £153,000 before any deductions for directors salaries / pensions.
EPC RATING – C

TENURE
Available on a new lease with terms to be negotiated at a rental of £45,000 per annum.

Once a letting has been agreed, the proposed tenant will need to make a non-refundable applicant charge of £550.

PREMIUM
£85,000 for the goodwill, fixtures and fitting of the existing business.

FREEHOLD
Alternatively £675,000 for the freehold including the goodwill, fixtures and fittings of the existing business.

VIEWING AND FURTHER DETAILS

By arrangement with Ellis and Partners through whom all negotiations are to be conducted.

Particulars PDF
Property Map
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The Agents for themselves and for the Vendor of this property, whose agents they are, give notice that: (1) These particulars do not constitute, nor constitute any part of , an offer or a contract. (2) All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or Vendor. (3) None of the statements contained in these particulars as to this property are to be relied on as statements or representatives of fact. (4) Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. (5) The Vendor does not make or give and neither the Agents nor any person in their employ has any authority to make or give, any representation or warranty whatsoever in relation to this property.
These particulars are issued on a strictly Private & Confidential basis and on condition that the information given is for private use of the recipient and any professional adviser consulted by the recipient and, further, that any information contained within these Particulars is not divulged to third parties. To comply with the Property Misdescriptions Act of 1991 these Particulars are intended only as a guide and must not be relied upon as statement of fact, your attention is drawn to the following important notice.
IMPORTANT NOTICE
  1. In compliance with the Property Misdescriptions Act 1991 these particulars are prepared for the guidance only of prospective purchasers, they are intended to give a fair overall description of the property or premises concerned but are not intended to constitute part of an offer or a contract.
  2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact.
  3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise or that any services or facilities are in good working order.
  4. Any photographs appearing in this brochure may not show all the property and show only certain aspects of the property at the time when the photographs were taken. Certain aspects of the property may have changed since these photographs were taken, it should not be assumed that the property remains precisely as depicted in these photographs. Furthermore, no assumption should be made in respect of parts of the property, which are not shown in the photographs.
  5. Any measurements, areas or distances referred to herein are approximate only.
  6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of a part of the property, this is not intended to be a statement that any necessary planning, building regulation or other consents have been obtained. Any intending purchaser must verify these matters.
  7. Any statements regarding Leasehold Interests have been prepared with due diligence but we will not necessarily have had sight of original legal documentation. It will be the responsibility of the intended lessee or purchaser to confirm that these details are correct with the vendors or landlord’s legal representatives.
  8. Descriptions of the property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of a statement of fact.
You should be aware that the Code of Practice on Commercial Leases in England and Wales strongly recommends that you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The code is available via the website www.commercialleasecodeew.co.uk
Call today to discuss your property needs on 01202 551 821 for Commercial, 01202 552 236 for Residential or 01273 771 393 for Brighton