LOCATION
The premises are located on the south side odf Stockbridge High Street in a prime position adjacent a carrier stream of the River Test.
Stockbridge is a small historic town in the heart of the Test Valley, well known as a tourist centre and catering particularly for outdoor pursuits and the antique trade, with numerous renowned specialist outlets.
DESCRIPTION
Lillie of Stockbridge is a prominently located, landmark building operating as tea rooms and bakery. The premsies comprise a two-storey end of terrace Victorian age building with various single-storey extensions and an attractive bay frontage, plus terrace and garden areas. The property is reputedly named after Lillie Langtry, the Mistress of Edward VII, following their visits to the area in the heyday of Stockbridge Races in the late 19th Century.
SERVICES
Mains electricity, water and sewerage. LPG heating.
ACCOMMODATION
| |
m2 |
[ft2] |
| GROUND FLOOR |
|
|
| Reception Hall |
5.7 |
[61] |
| Tea Room (approx 40 covers) |
50.9 |
[547] |
| Store Room |
7.0 |
[75] |
| Customer Toilets |
|
|
| Bakery Counter |
18.5 |
[199] |
| Kitchen |
14.0 |
[151] |
| Preparation Room |
9.9 |
[107] |
| Store Room |
8.5 |
[91] |
| |
|
|
| FIRST FLOOR |
|
|
| Currently arranged as an office and three store rooms plus bathroom/WC |
56.3 |
[606] |
| TOTAL |
170.8 |
[1,837]
|
ENERGY PERFORMANCE CERTIFICATE
C60
RATING ASSESSMENT
Rateable Value £29,750
TENURE
Freehold.
LETTING
The property is let to an individual on a 15 year FRI Lease from 07 April 2013 to 06 April 2028, without breaks, at a commencing rent of £35,000 pax. There is a rent review outstanding from 07 April 2018 and a further review on 07 April 2023. The lease is contracted-out of the security of tenure provisions of the Landlord & Tenant Act 1954.
PRICE
Offers invited in the region of £650,000 [VAT is not currently charged] which will show a purchaser a net initial yield of about 5.1% after deducting purchaser's costs at 1.75% and SDLT.
LEGAL COSTS
Each party to bear their own legal costs.
Ref: 4055C
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