Smugglers Inn, High Street, Milford on Sea, Lymington, SO41 0QE
Offers in Excess of
£1,550,000
£251.30 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
6,168 sq ft
573 sq m
- SECTOR
Commercial property for sale
Key features
- Freehold public house investment
- Entire property let to Smugglers (Milford On Sea) Limited
- Property arranged over three levels: ground, first and second floors extending to 6,168 Sq Ft (573 Sq M)
- Current rent of £125,000 per annum
- The rent is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 6% (except in the open market review year)
- We are instructed to invite offers in excess of £1,550,000 (7.60% NIY)
- Site extending to 0.561 acres
- Lease expires March 2039
- Business unaffected by sale
Description
Description
The property comprises the ground, first and second floors of a two storey semi-detached building with painted elevations beneath a pitched and hipped roof.
Location
Located in the village of Milford on Sea in the county of Hampshire, 4.3 miles (6.9 kilometres) south of Lymington, 15.2 miles (24.3 kilometres) east of Bournemouth and 21.4 miles (34.2 kilometres) west of Southampton.
The Smugglers Inn is situated fronting the High Street in a mixed residential and commercial area. Nearby occupiers includes the Co-op, the Beach House (Hall & Woodhouse), Boots and a number of independent retailers.
Accommodation
Ground Floor: The ground floor provides open plan trading area with a central L-shaped bar servery and seating on loose tables, chairs and bench seating for 68 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.
First Floor: The first floor comprises the manager’s accommodation, featuring a lounge, kitchen and a bedroom with an en-suite.
Second Floor: The second floor comprises two additional bedrooms.
Externally: There is a covered external area with seating for 30 customers and additional seating on wooden benches for 132 customers. Adjacent to this is a children's play area. There is parking to the side elevation for 32 vehicles and four garages used for storage.
Tenure
The property is held freehold (Title Number HP644544).
Tenancy
The entire property is let to Smugglers (Milford on Sea) Limited on a 20 year lease from 19 March 2019 at a current rent of £125,000 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 6% (except in the open market review year). A rent deposit of £28,811 is held by the landlord.
Planning
The property is Grade II Listed and is situated within the Milford-on-Sea Conservation Area.
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.
EPC
C - 62
Terms
We are instructed to invite offers in excess of £1,550,000 (7.60% NIY) assuming the usual purchasers costs.
Fixtures and Fittings
We are instructed to invite offers in excess of £1,550,000 (7.60% NIY) assuming the usual purchasers costs.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.
Similar Investment Opportunties
If you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing:
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.
The property comprises the ground, first and second floors of a two storey semi-detached building with painted elevations beneath a pitched and hipped roof.
Location
Located in the village of Milford on Sea in the county of Hampshire, 4.3 miles (6.9 kilometres) south of Lymington, 15.2 miles (24.3 kilometres) east of Bournemouth and 21.4 miles (34.2 kilometres) west of Southampton.
The Smugglers Inn is situated fronting the High Street in a mixed residential and commercial area. Nearby occupiers includes the Co-op, the Beach House (Hall & Woodhouse), Boots and a number of independent retailers.
Accommodation
Ground Floor: The ground floor provides open plan trading area with a central L-shaped bar servery and seating on loose tables, chairs and bench seating for 68 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.
First Floor: The first floor comprises the manager’s accommodation, featuring a lounge, kitchen and a bedroom with an en-suite.
Second Floor: The second floor comprises two additional bedrooms.
Externally: There is a covered external area with seating for 30 customers and additional seating on wooden benches for 132 customers. Adjacent to this is a children's play area. There is parking to the side elevation for 32 vehicles and four garages used for storage.
Tenure
The property is held freehold (Title Number HP644544).
Tenancy
The entire property is let to Smugglers (Milford on Sea) Limited on a 20 year lease from 19 March 2019 at a current rent of £125,000 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 6% (except in the open market review year). A rent deposit of £28,811 is held by the landlord.
Planning
The property is Grade II Listed and is situated within the Milford-on-Sea Conservation Area.
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.
EPC
C - 62
Terms
We are instructed to invite offers in excess of £1,550,000 (7.60% NIY) assuming the usual purchasers costs.
Fixtures and Fittings
We are instructed to invite offers in excess of £1,550,000 (7.60% NIY) assuming the usual purchasers costs.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.
Similar Investment Opportunties
If you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing:
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.
Energy Performance Certificates
EPCBrochures
Smugglers Inn, High Street, Milford on Sea, Lymington, SO41 0QE
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lymington Town Station3.3 miles
- Lymington Pier Station3.4 miles
- New Milton Station3.7 miles
About Savills, Southampton - Licensed Leisure
Savills, Mountbatten House,1 Grosvenor Square Southampton SO15 2BZNotes
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