Well positioned City Centre bar, restaurant, retail or leisure opportunity
The unit occupies the ground and mezzanine floors of one of the Arts Quarter buildings; a modern mixed use development that includes 38 luxury apartments, theatre and arts space. Fenestration is double glazed set in metal frames. The unit benefits from a double frontage to Above Bar and a spacious open plan interior with a floor to ceiling height of approximately 6.0m. Located to the rear is a mezzanine. The property is currently fully fitted with trade inventory and a Heating, Ventilation and Air Cooling (HVAC) infrastructure having most recently traded as branded bar and restaurant. Under this model, the open plan ground floor benefited from 125 customer seats with a further 42 at mezzanine level. Ground floor ancillary space includes open pizza kitchen, prep/wash-up area, storage and beer cold room. On the upper level are 6 x WC cubicles, storage and office.
The property is located in the Arts Quarter (also known as Guildhall Square), a popular food and beverage location and residential development in the centre of Southampton. The area benefits from a mix of independent and branded restaurant, bar and cafe operators including Nando’s, Costa Coffee, Turtle Bay and Mettricks. Unit 5 is in the process of fit out (Feb ‘21). Other wet-led pubs and late night venues are also in the vicinity. The unit is located 0.5 miles (750m) north east of West Quay shopping and leisure centre and the main retail precinct and 0.5 miles (750m) south of Bedford Place and London Road; one of the city’s established bar and restaurant circuits. Southampton has several academic institutions in the city. The University of Southampton, Solent University and their campuses accommodate 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).
Southampton City Council has granted a premises licence permitting various activities, including the sale of alcohol 10:00 - 00:00 Monday to Sunday. The external terrace shall not be used for alcohol consumption after 23:00.
The latest annual service charge was approximately £5,878.20.
Leasehold. Rental offers in the region of £75,000 per annum exclusive are sought for the benefit of a new lease with terms to be agreed. Vacant possession is available upon completion of legal formalities.
The subject property is listed in the 2017 Rating List with a Rateable Value of £57,000. The National Multiplier for England and Wales for 2020/2021 is £0.51.2.
We understand the property benefits from Commercial Use Class E (suitable uses may therefore include restaurant/bar, retail, financial or business services). Sui Generis (pub use) is to be confirmed.
Fixtures and Fittings
We understand that all trade inventory owned outright will be included (subject to negotiation). Branded items will be removed.
Energy Performance Certificate
The property has a rating of C-62.
To arrange a viewing please contact the joint agents. The property is closed to trade. All viewings must be conducted in adherence with UK Government and RICS Covid guidance.
Southampton Central (0.4 miles)
St Denys (1.2 miles)
Woolston (1.4 miles)