Bacaro, Ironside House, Canutes Pavilion Car Park, Southampton, SO14 3TN | Property for sale | Savills
2,627 sq ft(244.06 sq m)
Offers over £550,000

BacaroIronside House, Canutes Pavilion Car Park, Southampton, SO14 3TN

  • New
  • Leasehold
Investment
2,627 sq ft (244.06 sq m)

Key features

  • Long leasehold commercial investment to 2127
  • Entire property let to Bacaro 21 Limited
  • Restaurant property arranged over ground floor and part first floor with an external terrace
  • Approximate Gross Internal Area (GIA) 2,627 sqft (244 sqm)
  • Current rent of £50,000 per annum lease expires December 2033
  • The rent is subject to an open market review in December 2031
  • We are instructed to invite offers in excess of £550,000 (8.67% NIY) Business unaffected by sale

Long leasehold restaurant investment in Southampton's Ocean Village marina development

About this property

  • Description
    The property comprises the ground and upper floor of a single and two storey semi-detached building with brick elevations beneath a pitched slate roof.

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

    Terms
    We are instructed to invite offers in excess of £550,000 (8.67% NIY) assuming the usual purchaser’s costs.

    Tenure
    The property is held on a the remainder of long lease expiring 31 March
    2127 (Title Number HP639001) at a peppercorn rent, if demanded.
    The entire property is let to Bacaro 21 Limited on a lease with a reversionary 5 year term from 17 December 2028 to 16 December 2033 at a passing rent of £50,000 per annum which is subject to a rent review in 2031 to open market. The Tenant has provided a personal guarantee. The
    Tenant pays an annual service charge which is £3,804 for the period 1 April 2026 - 31 March 2027.

    The Business
    The property trades as Bacaro, an independent Venetian-style restaurant and bar located in the well know Ocean Village marina development.
    The business was establised in 2016 and has been leased since 2022. The business is not affected by the sale.

Local information

  • Bacaro is situated with dual frontages to Canute Road to the north and Ocean Village’s developments to the south. Nearby occupiers include Casa Brasil, Figurati, Maritimo Lounge (Loungers), Blue Jasmine and Banana Wharf. Southampton is home to the University of Southampton and Solent University with their campuses accommodating around 25,000 students.
  • Southampton’s mainline railway station provides fast and frequent rail services to London Waterloo with a journey time of approximately 70 minutes. The following are approximate distances from the property:
  • London 70 miles (113 km) Portsmouth 20 miles (32 km) Bournemouth 30
  • miles (48km) and Winchester 13 miles (21 km).