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Waltham Chase - Freehold Restaurant Investment with Development Potential

For sale: £998,500.00|3,379 Sq Ft|Land, Retail - Out of Town, Pubs/Bars/Clubs, Restaurant/Cafes, Pubs/Bars/Clubs, Restaurant/Cafes, Pubs/Bars/Clubs, Restaurant/Cafes, Commercial Land, Retail, Licensed & Leisure

Property details

FOR SALE£998,500.00
SIZE3,379 Sq Ft
ADDRESSAnatolian Restaurant, Winchester Road, Waltham Chase SO32 2LL
TYPELand, Retail - Out of Town, Pubs/Bars/Clubs, Restaurant/Cafes, Pubs/Bars/Clubs, Restaurant/Cafes, Pubs/Bars/Clubs, Restaurant/Cafes, Commercial Land, Retail, Licensed & Leisure
TENUREFor Sale Freehold
POSTED ON28th December 2020

Description

Investment Consideration:
Gross Initial Yield: 5.51%
Rental Income: £55,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor restaurant and self-contained three bedroom flat on first floor.
The property benefit from outdoor seating area for c. 50 people and car parking for 30+ vehicles.
Total GIA 313.96 sq m (3,379 sq ft)
Additional land on site with development potential (STP)
Well located being directly on Winchester Road

Property Description:
The property comprises large restaurant on ground floor (100 covers) and a self-contained three bedroom flat on first floor. The restaurant benefits from additional outdoor seating area for c. 50 people and car parking for 30+ vehicles. Additional land on site with development potential, subject to obtaining the necessary consents.

The property provides the following accommodation and dimensions:
Ground Floor: Restaurant 228.38 sq m (2,458 sq ft)
First Floor: Flat 85.58 sq m (921 sq ft)
Total Area Size: 313.96 sq m (3,379 sq ft)

Tenancy:
The property is at present let to an Individual for a term of 15 years from 24th September 2018 at a current rent of £55,000 per annum and the lease contains full repairing and insuring covenants. Upward only open market rent review in 2023. No break clause.

Location:
Waltham Chase is a village in Hampshire, England, neighbouring the town of Bishop's Waltham. It is in the civil parish of Shedfield. The village comprises about 2 sq. kilometres of land to the south-east of Bishop's Waltham. The property is well located being directly on Winchester Road between Bishop's Waltham (1.2 miles north) and Wickham (3.3 miles south), while Junction 10 of the M27 is approximately six miles away.

Location

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Location: Anatolian Restaurant, Winchester Road, Waltham Chase SO32 2LL

Botley (3.1 miles)

Hedge End (4.1 miles)

Swanwick (5.4 miles)

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