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ABBEY HOTEL 7 - 11 Church Street, Romsey, Hampshire, SO51 8BT

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ABBEY HOTEL 7 - 11 Church Street, Romsey, Hampshire, SO51 8BT FREEHOLD FOR SALE GUIDE PRICE - £1.6 MILLION PLUS VAT ABBEY HOTEL 7 - 11 Church Street, Romsey, Hampshire, SO51 8BT Key Highlights • Historic vacant public house and two • Investment income of £18,362 per annum retail investments in Romsey town centre potentially increasing to £30,000 per • Opposite Romsey Abbey and close to annum The Broadlands Estate and the River Test • Alternative use and development • Site area 0.13 hectares (0.322 acres) opportunities (STP) • Pub in shell condition ready to receive fitting out SAVILLS SOUTHAMPTON 2 Charlotte Place Southampton SO14 0TB +44 (0) 23 8071 3900 savills.co.uk Location The Abbey Hotel is situated in the centre of Romsey, a market town well-known for its association with the Broadlands Estate, the former home of the Lord Mountbatten. The property has a prominent position in Church Street, immediately opposite Romsey Abbey, close to the shopping area around Market Place and The Hundred where many national retailers are situated. The Abbey Hotel is a substantial property offering a development opportunity that could provide a new pub and restaurant with scope to develop letting accommodation. There are many tourists and visitors to the area visiting attractions such as Mottisfont Abbey, the River Test and the Test Way, Stockbridge, The Broadlands Estate and Paultons Park. Pedestrian and vehicle access is directly from Church Street. Property The Abbey Hotel and the adjacent retail units have a site area of 0.13 hectares (0.322 acres) with a wide frontage to Church Street. The building is arranged over ground, first and part second floors. The upper floors of the Abbey Hotel extend above the 2 retail units. There is an area for car parking/deliveries and a large garden to the rear of the property backing down to a mill stream. Internal Description The Abbey Hotel is offered for sale part way through a redevelopment of the property. The retail units are fully occupied by third party tenants. The Abbey Hotel provides a number of interconnecting rooms at ground floor level all of which are in ‘shell’ condition. The basement and ground floor combined has a gross internal floor area of approximately 470 sqm (5,060 sq ft).The total gross internal floor area is approximately 790 sq m (8,504 sq ft). The upper floors of the property provide an opportunity to create 9 en-suite letting bedrooms at first floor level and a manager’s flat on the second floor. This accommodation is also provided in shell condition. There are a number of outbuildings that offer a further development opportunity. SAVILLS SOUTHAMPTON 2 Charlotte Place Southampton SO14 0TB +44 (0) 23 8071 3900 savills.co.uk Investment Income UNIT USE TENANT SIZE LEASE EXPIRY RENT (PER ANNUM) 7 Retail Malcolm & Diane Smith 38 sqm Holding Over £9,108 t/a Photoflair 409 sqft 9 Retail Sarah Bennett 49 sqm Sep-19 £9,254 t/a Khaos Hair Design 527 sqft Both tenants have indicated a desire to take on new leases of between 5 and 10 years with a combined rent of £30,000 per annum. Planning EPC The property is not a Listed building but is situated within The Abbey Hotel as an EPC rating of D-80. This was the Romsey Town Centre Conservation Area. We believe undertaken prior to the strip out of the interior of the that there are a number of development opportunities property. associated with the premises, subject to obtaining the • 7 Church Street has an EPC rating of C-64. necessary planning permissions. • 9 Church Street has an EPC rating of E-125. Rating The Abbey Hotel is listed within the 2017 Rating List as Guide Price “Public House and Premises” with a rateable value of The property is available for sale with a guide price of £26,750. It is likely to be re-assessed upon completion £1.6m (plus VAT) to include the freehold interest with of the re-fitting of the premises. vacant possession of the Abbey Hotel and with the benefit of the investment income from the two retail units. • 7 Church Street is described as “Shop and Premises” and has a rateable value of £9,000. Viewing • 9 Church Street is described as “Shop and Premises” For a formal viewing, strictly by appointment with Savills. and has a rateable value of £8,400. The National Multiplier for England and Wales for 2019 / 2020 is £0.504. Tenure The property is held Freehold. SAVILLS SOUTHAMPTON 2 Charlotte Place Southampton SO14 0TB +44 (0) 23 8071 3900 savills.co.uk Contact Kevin Marsh Poppy Hood Savills +44 (0) 7968 550 369 +44 (0) 7870 183 418 2 Charlotte Place [email protected] [email protected] Southampton SO14 0TB IMPORTANT NOTICE Maps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and Produced by Savills Marketing: 020 7499 8644 | July 2019.
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