The Golden Pheasant, Gosport Road, Lower Farringdon, Alton, GU34 3DJ | Property for sale | Savills
2,960 sq ft(274.99 sq m)
£550,000($1,079,403)

The Golden PheasantGosport Road, Lower Farringdon, Alton, GU34 3DJ

    Investment
    2,960 sq ft (274.99 sq m)

    Key features

    • Freehold public house investment
    • Entire property let to BP Entertainments Limited
    • Property arranged over ground and first floors extending to approximately 2,960 sq ft (275 sq m)
    • Current rent of £40,000 per annum
    • Lease expires 26th February 2044
    • The rent is subject to annual RPI increases with a 2% & 5% cap and collar
    • Business unaffected by sale
    • We are instructed to invite offers in the order of £550,000 (6.93% NIY)

    Freehold Public House Investment For Sale

    About this property

    • Description
      The property comprises a detached two storey public house with rendered, painted elevations under a pitched slate tiled roof. There is a large single storey element which extends from the northern elevation and is again rendered but with a pitched clay tiled roof.

      The property has a Gross Internal Area of approximately 2,960 sq ft (275 sq m).

      Accommodation
      Ground Floor: Upon entering the property at ground floor level is a prominent central bar servery with customer seating surrounding. There is a more formal dining area to the left and relaxed bar area to the right and rear. There is a large kitchen and coffee area located behind the bar.

      The cellar and WC’s are positioned in the single storey element of the building and beyond is a function room (not used).

      First Floor: First floor level comprises of 2 bedroom managers accommodation, bathroom x2, lounge and office.

      Externally: Externally is a lawned trade garden (20 covers), an enclosed private garden, a garage, a container store and a 20 space car park (15 tarmacadam & 5 gravel) at the front of the property.

      The site is regular in shape with an approximate site size of 0.613 acres (0.248 hectares).

      Tenure
      The property is held freehold (Title Number HP448445).

      Tenancy
      The entire property is let to B P Entertainments Limited on a 20 year lease from 27th February 2024 to 26th February 2044 at a current rent of £40,000 per annum, which is subject to annual RPI increases with a 2% & 5% cap and collar. A rent deposit of £12,000 is held by the landlord.

      Planning
      The property is not listed nor is it located within a conservation area. The Local Authority is East Hampshire District Council.

      VAT
      It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.

      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.

    Local information

    • The Golden Phesant is located in Farringdon (Lower) near ALton.
    • Farrindon is a small village in Hampshire, approximately 4 miles south of the town of Alton on the A32 Fareham Road.
    • The village is formed into two parts, Lower and Upper Farringdon, linked via Shirnall Hill, that rises from the east side of the A32.
    • The immediate vicinity comprises of a mixture of uses with a BMW motorbike garage immediately adjacent to the south. To the west (rear) is Farringdon Business Park. To the east and north are mainly detached residential dwellings and agricultural land.