Pub with development potential for sale in Hampshire
The property on offer is comprised of the existing building occupied by the operating pub and a rear land with the planning permission to build 8 ground-level motel studio suites.
Eversley is an affluent village located near Ascot and Sunningdale in Hampshire – popular tourist and leisure destinations. There is a strong demand for letting room/accommodation in the area as Eversley is largely regarded as a recreation area and a wedding destination.
Upon completion of construction the motel could be let to be operated to a national chain or separate buyer. Alternatively, existing tenants (the pub) were offered an opportunity to operate/manage the motel, which is subject to further agreement. Investor/developer at this stage is offered to acquire the asset that have a great development potential. In addition, there are good prospective to also convert motel studios and pub into a flats later on subject to residential use planning permit. It also lends itself to a Tesco Mini store where there is a demand should the owners every decided to cease letting it as a pub and find a higher yielding covenant.
Key property features:
- The land plot is 17.280 sq ft, the building is 4.015 sq ft
- Remaining lease term 8 years, FRI lease (full repair and insurance)
- Planning for 8 ground-level motel studio suites is in place
Asking price: £1 400 000
Rental income and estimated yields can be provided on your request