Freehold investment for sale situated in busy central Ringwood Town measuring approx. GIA 2,504 sq ft (233 sq m).
The property is an 18 Century Grade II Listed building which has been extended over time. The building is arranged over two storeys with elevations which are brick constructed, painted on ground floor, tile hung on 1st floor under a plain tile roof with toothed ridge tiles.
The property comprises a ground floor restaurant and first floor offices. The first floor offices have been sold on a long leasehold basis.
The ground floor restaurant is accessed directly from Southampton Road or from an alternative side entrance. The main trading area can accommodate around 80 covers. The ground floor is laid out to include a central bar servery, male, female and accessible WC facilities and a trade kitchen. To the rear is a manager’s office, staff WC and ancillary storeroom.
Externally, there is a trade courtyard to the rear of the restaurant that can accommodate seating for approximately 16 customers.
The property has been granted a Premises Licence in accordance with the Licensing Act 2003. We understand that the establishment is permitted to sell alcohol Monday to Sunday 12:00-01:00. Other licensable activities are permitted.
Freehold subject to the occupational lease.
We have made brief status enquiries of the tenant company, New Forest Venture Ltd by sourcing a credit report from Creditsafe which details the company as having a credit rating of 60 (below average risk) as at 30 April 2021. The company was formed in 2021 and so does not show a turnover. The company also has an Incans equivalent Bond rating of ‘B’.
The property is Grade II Listed, and is it located within a conservation area. The local authority is New Forest District Council.
We understand the property currently benefits from Class E use having been most recently used as a restaurant.
The subject property is on the 2017 Rating List, with a Rateable Value of £31,750. Please check www.voa.gov.uk for up-to-date information on rates payable.
Offers in the order of £550,000 are invited for the freehold interest.
The property has an EPC and will be provided to interested parties upon request.
Viewings can be made by appointment with Savills.