Property Information
Address:
3-5 Romsey Road, Lyndhurst, Hampshire
, SO43 7AA
, Hampshire
, United Kingdom
Price: Property no longer available.
Size: 3144 sq ft292 sqm
Primary Category: Shop
All Categories:
Investment, Shop,
Property Ref/Movehut: MH632937
Property Ref/Agent: 6583
*Please use the agent ref when calling the agent directly.
Property description
Description
The property is situated in the attractive market town of Lyndhurst, which serves as the administrative capital of the New Forest. It is a popular tourist destination, with many independent shops, art galleries and cafes. The subject enjoys a prominent position fronting Romsey Road, near the junction of the High Street. Nearby occupiers include Tea Total; Down to the Woods and Enzee's Pizzeria.
Lyndhurst benefits from strong transport links offering easy access to the M27, Junction 1, via the A337 and Bournemouth and Southampton are connected via the A35. The Ashurst New Forest train station within 1 mile of Lyndhurst to the north, with journey times to London Waterloo of approximately 1 hour 30 minutes.
The property comprises a three storey Tudor mock building under a pitched tiled roof. The ground floor provides restaurant accommodation wrapping the central staircase, with kitchen and storage to the rear. There is staff accommodation over the left hand side of the first and second floor.
A self-contained flat is accessed from the front aspect and provides 3 double bedroom accommodation over first and second floors. The flat requires complete refurbishment.
Accommodation
We have relied upon measurements provided by the vendor.
Restaurant Ground
109.1
1,175
Staff Accommodation First
47.4
510
Staff Accommodation Second
38.9
419
Total Staff Accommodation
86.3
929
Self Contained Flat First
52.7
567
Self Contained Flat Second
44.0
473
Total Self Contained
96.7
1,040
Total Accommodation
292.1
3,144
EPC Text
Asset Rating - Passage to India C63
- Residential - F35
Rating
Rateable Value
£14,750
Source
Terms
The property is available freehold at a guide price of £600,000 subject to the benefit of the existing commercial lease.
The restaurant and staff accommodation are let under a lease commencing 31st of October 2008 to a Mr Kaysor for a term of 20 years without breaks at a passing rent of £34,000 per annum, subject to 5 yearly open market rent reviews.
The restaurant is well established having traded from the site under the name Passage to India for many years.
The self contained flat is currently vacant. Following refurbishment we are of the opinion flat will achieve circa £14,000 per annum.
The reversionary income reflects £48,000 per annum.
Attractive market Town
Established Restaurant
8 Year term without breaks
Commercial income of £34,000 PAX
Residential requiring refurbishment
Potential income £46,000 PAX
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