Multifaceted Business in Converted Bar
Price:
Leasehold - £99,950
Location:
Hampshire , New Milton
Business Type:
Food Service Businesses, Hotels, Pubs
LOCATION
New Milton Railway Station just under 1 mile. Sea Cliff Top at Marine Drive East approx. 1½ miles. Christchurch approx. 5½ miles. Lymington approx. 6½ miles. Brockenhurst approx. 7¾ miles. Bournemouth approx. 11 miles.
FEATURES
Rarely available multifaceted business, comprising 10 en-suite letting bedrooms, restaurant/bar and tea rooms. Character converted barn premises. Located on the fringes of the New Forest National Park. Designed and fitted to a high specification. Rare Freehouse opportunity. Perfectly suited for weddings, parties and functions. Fully fitted and equipped throughout. Car parking. All rooms include flatscreen televisions, radio alarm clocks, complimentary tea and coffee facilities and Wi-Fi (in some areas). Currently operated under management. Scope to develop the business further.
SUMMARY OF ACCOMMODATION
Milton Barns Hotel. Mezzanine Restaurant Area. Kitchen. Office. 10 en-suite Letting Bedrooms. Covered Courtyard Restaurant.
TRADING & BUSINESS
The rooms are predominantly let to tourists, business people working at the local industrial estates, function and wedding parties and customers attending events locally. We are informed that the current room tariff ranges from £58 to £149 per night. The restaurant and bar hosts functions for up to 150 persons and is also open to room guests and local residents. There are an increasing number of functions and wedding bookings already confirmed for the next 2 year period. The current owner is happy to offer the new buyer a period of training following exchange of contracts. The owner has provided us with accounts which show that in the 11 months for the year ending 31st March 2011 the turnover was £178,901 excluding VAT. Further accounts can be made available to genuinely interested purchasers.
LICENCES/PERMISSIONS
We are informed that the property holds a Premises Licence granted by New Forest District Council. The Licensing Act 2003 states that properties serving alcohol have a designated premises supervisor who must hold a Personal Licence. We suggest that all purchasers take appropriate professional advice. We have not had sight of this licensing documentation.
New Milton Railway Station just under 1 mile. Sea Cliff Top at Marine Drive East approx. 1½ miles. Christchurch approx. 5½ miles. Lymington approx. 6½ miles. Brockenhurst approx. 7¾ miles. Bournemouth approx. 11 miles.
LEASEHOLD. The premises are held under an original 6 year lease, expiring on 28th February 2016, at a current rent of £45,000 per annum. The owners inform us that the current lease term can be extended subject to negotiations with the landlord.
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