The Crown Inn, Romsey Road, SO20

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Key Points

Summary

Freehold public house investment for sale, currently let on a lease expiring in 2028

Description

The property was built in 1753 and comprises a Grade II Listed, two storey semi-detached building, with single storey extension to the left elevation. The Crown Inn has painted and rendered mock Tudor elevations beneath a thatched roof.

Externally there is a beer garden to the side with seating for approximately 30 customers. There are some additional picnic benches provided to the front of the property also. The car park to the left of the pub, provides parking for approximately 13 vehicles.

Location

The property is located in the village of King Somborne, Hampshire, 12.2 kilometres (7.6 miles) west of Winchester, 21.5 kilometres (13.4 miles) east of Salisbury, and 14.7 kilometres (9.1 miles) south of Andover.

The Crown Inn is situated in the village of Kings Somborne fronting Romsey Road which provides access to neighbouring villages. The property is located in a semi-rural residential area with local facilities including Kings Somborne Parish Church, Kings Somborne Village Hall and Kings Somborne CofE Primary School.

Availability_text

The accommodation comprises of the following

Specifications

Internally the public house is cosy in its layout with a number of interconnecting trade rooms. The right hand side of the pub features the bar servery and public bar area. To more formal dining areas are located to the left. WC’s are also provided adjacent to this area. The kitchen and cellar are positioned at the rear of the ground floor. The first floor comprises of an office/lounge, 3 bedrooms and a bathroom.

Accomodation

Internally the public house is cosy in its layout with a number of interconnecting trade rooms. The right hand side of the pub features the bar servery and public bar area. Two more formal dining areas are located to the left. WC’s are also provided adjacent to this area. The kitchen and cellar are positioned at the rear of the ground floor. The first floor comprises of an office/lounge, 3 bedrooms and a bathroom.

Planning

Our initial enquiries of the local authority have revealed that the property is Grade II listed and located within the Kings Somborne Conservation Area. All parties must satisfy their own enquiries.

Tenure & Tenancy

The property is held freehold. The entire property is let on a 10 year full repairing and insuring lease to T Minter & J Evans LLP (Company Number OC320959) expiring 18th October 2028 at a current rent of £45,627 per annum, subject annual RPI indexation and upwards only 5 yearly open market reviews. The lease is free of trading ties.

Rateable Value

The subject property is entered in the 2023 Central Rating List with a Rateable Value of £10,250. Please check with the VOA for the most up to date information on all rating matters.
https://www.tax.service.gov.uk/business-rates-find/valuations/start/202799175

EPC

The property is exempt from requiring an EPC.

Terms

We are instructed to invite offers in excess of offers in the order of £450,000 (9.71% NIY) assuming purchaser’s costs of 5.65%. The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.

VAT

It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT.

Viewings

Where appropriate, we recommend interested parties carry out a discreet inspection of the site. We kindly request that no approaches are made to the publican, staff or the business directly, where applicable.

Money Laundering

Regulations require Savills to conduct various checks on purchasers and tenants. Further details are available upon request.