Former Royal Exchange, 22 London Street, Basingstoke, RG21 7NY | Property for sale | Savills
5,360 to 10,494 sq ft(497.96 to 974.92 sq m)
Offers in the region of £1,500,000

Former Royal Exchange22 London Street, Basingstoke, RG21 7NY

  • Freehold

Key features

  • Substantial freehold property in Basingstoke Town Centre
  • Approximate GIA of 10,494 FT2 (975 M2)
  • Can be split and may suit development (subject to consents)
  • Currently configured as a late night bar venue (licensed until 04.00am)
  • Well-presented 2-bedroom living accommodation included
  • Freehold Offers In The Region of £1,500,000

Substantial Freehold Commercial Hospitality Property & Accommodation

About this property

  • Description
    The property comprises four distinct connected buildings occupying a prominent end-terrace position. The property facing London Street is three storeys above basement with painted and rendered elevations under a pitched roof. On the long return frontage to May Place are three connected buildings of two-storeys under pitched roofs. To the rear is a more recent single-storey flat roof extension. The building footprint is in excess of 5,000 FT2.

    Internal Accommodation
    The property currently trades as a hospitality venue with private living accommodation. The ground floor comprises and open plan bar with small kitchen , storage and WCs (located to the rear is further trade space which is not used). At first floor level is a bar and late night venue (maximum floor to ceiling height 3.7m) with bar-servery and WCs.

    Living Accommodation
    Private living accommodation is located on the second floor and provides two-bedrooms, reception, kitchen and bathroom.

    External Areas
    Located to the front at street level is an external trade terrace.

    The Business
    The property currently operates as, Harry’s Bar, a late night bar venue trading over ground and first floors. Our clients are seeking to retire after 17 years as owners and operators. No trade information is available and the sale will be with vacant possession upon completion.

    Tenure & Price
    Freehold. The property is for sale freehold with vacant possession (title HP316287). The guide price is £1,500,000. We understand VAT will be applicable at the going rate. The property can be split as follows: Front building (guide price OIRO £1,050,000 and rear buildings guide price OIRO £600,000).

    Business Rates & Services
    The rateable value is £17,500. This is not the rates payable (the small business multiplier is 49.9p/£). We understand all mains services are connected.

    Planning & Conservation
    Parts of the two rear properties are Grade II listed. We understand the established planning use is Sui Generis (public house) with C3 (residential upper) under the Town and Country Planning (Use Classes) Order 1987 (as amended).

    Licensing
    The property has been granted a Premises Licence in accordance with the Licensing Act 2003. We understand that the premises is permitted to sell alcohol under the following hours:
    Friday to Saturday - 10:00 - 04:00
    Monday to Thursday - 10:00 - 02:00
    Sunday - 11:00 - 02:00

    Fixtures & Fittings
    Fixtures and fittings which are in the absolute ownership of the vendor and in situ on completion are included within the sale.

    Energy Performance Rating
    The property is in part Grade II listed and EPC exempt.

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

    Viewing
    All viewings must be arranged strictly by appointment with the sole agents Savills. Please do not approach the business directly.

Local information

  • The property is situated in the large town of Basingstoke which is 50 miles south-west of London, 20 miles south of Reading and 21 miles north-east of Winchester. The property occupies a prominent town centre location at the eastern end of the pedestrianised London Street at the junction of May Place less than 100 yards from Central Car Park. The southern entrance to Festival Place is 0.2 miles to the north-west. The immediate area comprises a typical mix of high street retail, hospitality and commercial; the 60-bed Red Lion Hotel is adjacent.
  • Transport links in the locality are good with Junction 6 of the M3 within 1.5 miles and the Basingstoke Mainline Railway Station 0.5 miles to the north (with regular direct services to Southampton in 33 minutes and London Waterloo from 42 minutes). Basingstoke & Deane have an estimated population of 185,200 (2021 Census).

Energy performance

EPC exempt - Listed building

Available space

Namesq ftsq mAvailability
Basement47343.94Available
Ground4,887454.02Available
1st3,520327.02Available
2nd1,614149.95Available