Restaurants for sale in Southampton

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Vacant Restaurant/Bar Opportunity in Southampton

Southampton, England

  • Leasehold Price: £9,995
Seller Reference: B05095
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Business Description
 
 
 
 
 
 
 
 
 
 
 
 
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Seller Reference: B05095
Request Details
Business Description
Business

Hilton Smythe are excited to present to the market a fully equipped restaurant opportunity within the heart of Southampton's city centre.  The site previously housed the Chimanango restaurant chain who spent over £250,000 on a complete refit which included a beautiful bespoke bar servery, triple aspect dining space, ground level commercial kitchen as well as a large lower ground floor storage space.


The expansive site would suit any similar branded restaurant or any independent restaurateur looking to capitalise on the array of equipment in situ which will be included in the lease. The site is extremely unique offering dining or drinking areas to the 3 sides of the building.


Total covers of this restaurant was 150.



Location

A highly prominent and sizeable restaurant / cafe unit located on the junction of Latimer Street and Oxford Street within Southampton city centre. The 3 sided unit enjoys pavement views over both Oxford Street and the well maintained tree lined park on Queens terrace.


This is 1 of Southampton’s most desirable locations for a restaurant or bar cafe with many other complimentary bars and restaurants surrounding this unit, these include Pizza Express, The Oxford Brasserie, Scoozi and the Grand cafe. There is a large pay and display car park within 2 mins walk from the unit for daytime diners which is then free after 6pm for the evening dinners.


The area has developed into a very healthy mix of commercial led business, offices and residential projects. The unit is 5 mins walk up from the bustle of Ocean Village which comprises a marina development of new housing, a boutique hotel, offices, bars and restaurants.


Southampton is the largest city in Hampshire and plays host to over four million visitors a year, it boasts an impressive cultural offering, a busy cruise terminal port, museums, music venues and art galleries to award winning parks.  The general hustle and bustle of a diverse city steeped in its Maritime history Southampton is home to The University of Southampton and Solent University; the campuses accommodate c.25,000 students in addition to a substantial office and residential population. The population is currently 245,300 (Mid-Year Estimate 2014). 


Southampton's mainline railway station within the city centre provides fast and frequent rail services to London Waterloo with a journey time of approximately 70 minutes. The following are approximate distances: London 70 miles (113 km), Portsmouth 20 miles (32 km), Bournemouth 30 miles (48 km) and Winchester 13 miles (21 km).

Premises

The restaurant occupies the main ground floor and lower ground floor of this three storey Grade 2 property. The high end decor includes a bespoke tiled floor, wooden floor in the dining areas, new lighting, air con throughout and lots of storage.


Total size of the space is 464.03m2.


Ground floor -


Bar area - includes a customer waiting area and stunning fixed bar servery. The bespoke bar is filled with equipment which includes stainless steel chillers, freezers, dishwasher, ice machine, drinks prep unit, shelving, storage and till points.


Dining area 1- currency arranged for 30-40 covers using solid tables / chairs


Disabled friendly toilet with baby changing facilities


Dining area 2- arrangement of fixed seating booths and tables for 25-30


Dining are 3 - main views over Latimer street for 30-40


Commercial Kitchen - filled with chest freezers, stand-alone freezers and chillers, large extraction unit, gas cookers, griddles, stainless steel Prep units  fan ovens, sinks and storage


Dining area 4 - stunning views of the park and offers low seating arrangements for 40-45.


Lower ground floor -



  • Customer toilets

  • 3 x large storerooms

  • Staff changing facilities


External -


There is licence for some pavement dining



Tenure

We are advised our client will offer a new 20 year lease with an annual rent of £50,000. This will also include an initial 3 month rent free period.


Current payable business rates are in the area of £30,000.



Hours

The licence has been granted that permits various activities, including the sale of alcohol Monday to Saturday 10:00 - 00:00 and Sunday 12:00 - 00:00.


Opening hours are Sunday to Thursday 11:30 - 23:00, Friday and Saturday 11:30 - 23:30.



Staff
N/A Business closed

Financial Profile
N/A Business closed

Tenure:
Leasehold
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