HAMPSHIRE – PICTURESQUE VILLAGE FREEHOUSE IN MEON VALLEY

•Centre of picturesque village in East Hampshire

•Within the Meon Valley, South Downs National Park

•Bar and restaurants (57)

•Spacious 4 bedroom accommodation

•Car park (13), beer garden (70 )

•Available freehold or on favourable new free-of-tie lease

SELLER REF 95469

The Izaak Walton is situated in the centre of the picturesque East Hampshire village of East Meon, named after the chalk stream, the River Meon, which flows through it. The village is the highest in the Meon Valley and lies within the South Downs National Park. Henwood Down is a prominent hill which rises approximately one mile to the west and the South Downs Way, a long-distance footpath and bridleway, passes over the southern spur of the hill. Outdoor enthusiasts can also enjoy the old Meon Valley Railway which has been transformed into a rural trail between the villages of Wickham and West Meon.

East Meon is located approximately 4 miles west of Petersfield and has a population of around 1,200. The village has a number of amenities which include a convenience store, All Saints Church, a village hall, a primary school and two public houses (one of which is The Izaak Walton). There are good local transport links: the A3 trunk road is found at Petersfield and connects London to the port city of Portsmouth; Petersfield train station is managed by South Western Railway and sits on the Portsmouth line which connects Portsmouth Harbour in the south to London Waterloo via Woking in the north.

The Izaak Walton is a two storey, detached, brick constructed property under a pitched slate roof.

The property lies within the village’s conservation area and occupies a plot of around 0.33 of an acre.

Freehold £475,000 VAT

VAT will apply on the sale of this property. It will be levied on the sale price of the freehold at the standard rate on 90% of the purchase price. Purchasers may wish to satisfy themselves with independent professional advice that this VAT may be reclaimed.

LEASEHOLD NIL PREMIUM 

The Landlord will consider the creation of a new lease on the following terms:

- For a term of up to 20 years.

- Protected by Part II Landlord & Tenant Act 1954.

- Assignable subject to Landlord’s consent. Such consent not to be unreasonably withheld.

- The successful applicant will be required to lodge with the Freeholder a deposit equivalent to six months’ rent in advance plus VAT. Personal guarantors will be required if the lease is taken out in limited company.

- A guide rent of £34,000, paid quarterly in advance.

- Subject to rent reviews every fifth year of the term. Annual RPI indexation will be added at a minimum of 2.5% and a maximum of 5% per annum.

- Full repairing and insuring lease.

- Free of all trade ties.

- The Landlord will insure the building and charge the Tenant by way of an Insurance Rent.

Please note that VAT will be payable on rental payments.

The successful applicant will need to contribute £1,500 towards the Landlord’s legal costs.

All negotiation subject to covenant strength. An incoming party will be required to demonstrate sufficient funds to sustain their business model, and will need to demonstrate ingoing capital to cover the premium, rental deposits, stock, working capital and solicitors’ fees as a minimum.

Applicant form and business plan available upon request.

No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.