Restaurant/cafe for sale in Lanes Of Lymington, Ashley Lane, Lymington, Hampshire SO41

£675,000 (£318.4/sq. ft)
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Restaurant/cafe for sale 2,120 sq. ft*

Property features

  • Established restaurant/bar
  • Located just off the High Street
  • Restaurant arranged over ground and first floors
  • Second floor ancillary stores and office

Property description

Situation and description


The affluent market town of Lymington is situated on the southern edge of the New Forest National Park midway between Bournemouth and Southampton

The High Street is the main shopping area in the town where there is a healthy mix of both local and national occupiers. The subject property, which we are advised was formerly a church and school, is located just off the High street in a cul de sac. The cul de sac is located opposite the Costa Coffeee in the High Street.

The accommodation is arranged over 3 storeys. The ground floor includes a sizeable bar and waiting area, restaurant seating plus male and female cloakrooms. The first floor comprises further restaurant seating and kitchens and preparation areas and the second floor is ancillary office and storage.


Accommodation


Ground Floor
Restaurant seating, bar and waiting area, male and female cloakrooms
Width 40’00” (12.1m)
Depth 30’00” (9.1m)
Gross Internal Floor area: 1,100 sq.ft. (102 sq.m.)

First Floor
Restaurant seating and kitchens and food preparation area.
Gross Internal Floor area: 820 sq.ft. (76 sq.m.)
(potential to increase the seating area if required)

Second Floor
Ancillary stores and Office 200 sq.ft. (18.5 sq.m.)

Total Gross Floor Area 2,120 sq.ft. (196 sq.m.)


Planning


Long established use as a licenced restaurant and bar
This property falls within Class E Commercial Businesses and Services, which include A1 retail, A2 office, A3 Catering, B1 Light Industrial, Indoor sports and Medical use, crèche/day nursery


Premises licence


Licence No. 994/2
Sales of alcohol, provision of live and recorded music, films or sporting events.

A copy of the premises licence is available upon request.
Further enquiries to New Forest District Council


The business


Lanes of Lymington has been trading for approximately 16 years providing. The restaurant currently has between 45 / 50 covers but potential to have more covers if required. Husband and Wife working full time and 7 / 8 part time staff, Tuesday to Saturday 1130 to 1400 and 1800 to 2100
We have had sight of trading accounts which show a turnover of £352,000 for the year ending March 2022 with an adjusted Net Profit of £153,000 before any deductions for directors salaries / pensions.

EPC rating - C

tenure


Available on a new lease with terms to be negotiated at a rental of £45,000 per annum.

Once a letting has been agreed, the proposed tenant will need to make a non-refundable applicant charge of £550.


Premium


£85,000 for the goodwill, fixtures and fitting of the existing business.


Freehold


Alternatively £675,000 for the freehold including the goodwill, fixtures and fittings of the existing business.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Ellis and Partners, BH1 on +44 1202 060263 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Ellis and Partners, and do not constitute property particulars. Please contact Ellis and Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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