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Pubs for Sale
High Street, Milford on Sea, Lymington, SO41
SOLD 4,758 sf
Pubs for Sale
High Street, Milford on Sea, Lymington, SO41
SOLD
A detached two storey end-terrace public house arranged over three floors, including a lower ground floor access to rear. The property is of brick construction with part rendered and painted elevations under a multi pitched slate roof. The plot of 0.283
acres includes a car-park and beer garden to the rear.
The ground floor comprises a two section trading area with a single-bar servery and seating for up to 70 customers. Ancillary space includes a trade kitchen and customer WCs (with an accessible unit).The lower ground floor basement is accessible a car-park level and comprises cellar and stores
The five en-suite guest letting rooms are located on the first floor. Private living space includes one bedroom, office, kitchen and bathroom.
There is a vacant hay-loft space which may be suitable for accommodation (subject to planning and Listed Building consents)
Located to the rear of the property is trade garden with potential seating for approximately 80 customers. A small gravel car-park can accommodate up to 8 standard vehicles.
There is planning permission for an elevated decking area connected to the rear of the property extending to approximately 646 sq ft.
The pub has most recently operated under a private lease arrangement trading as The Lazy Lion, during which time it built a considerable loyal customer base within the village and further afield. The pub traded a food-led pub with rooms until its unfortunate closure in late Summer 2024. No financial information is available.
Freehold title HP598476.
We are seeking £875,000 plus VAT for the benefit of the freehold interest, fixtures and fittings with vacant possession upon completion.
Alternatively our client will consider rental offers of £60,000 per annum exclusive for the benefit of a new free of tie lease with terms to be agreed.
The property is Grade II Listed and located in the Milford on Sea Conservation Area. The property is not located Green Belt or in an AONB but is in a Flood Zone.
We understand the established planning use is Sui Generis (public house) with C3 (ancillary living accommodation).
The 2023 Rateable Value is £22,800.This is not the rates payable, which may be reduced by Small Business Rates Relief. Please check the VOA for further information.
We understand VAT will be applicable at the going rates.
Exempt.
We understand mains water, electricity, gas and drainage is connected. The kitchen is serviced by LPG.
Fixtures and fittings which are in the absolute ownership of the vendor and in situ on completion are included within the sale. Any leased items and any items owned by third parties will be excluded.
The property has been granted a Premises Licence in accordance with the Licensing Act 2003 (ref 373/8). We understand that the premises is permitted to sell alcohol under the following hours: Monday to Saturday - 10:00 - 23:00 Sunday - 12:00 - 22:30
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.
The property is now closed but we encourage interested parties to inspect externally before formal viewings are requested. All viewings must be arranged strictly by appointment with the sole selling agents, Savills (Southampton). Please do not approach the business or staff direct.
Location
The property is situated in Milford on Sea, a charming coastal village located in Hampshire, nestled between the New Forest National Park and the Solent. The village is approximately 4.3 miles south-west of Lymington and 15 miles east of Bournemouth. This area of Central South Hampshire has a well-connected road network comprising the A337, A31 and M27 which connects London to the South West.The Lazy Lion is located in the centre of the built up village at the junction of High Street and B3058 which passes through along the cliff top coastal road. The immediate area comprises mainly retail, F&B, commercial and business services.
Milford-on-Sea has a resident population of 4,660 with nearby Lymington 15,832 (2021 Census). The population is significantly bolstered by the estimated 13.5 million day-visits annually to the wider New Forest area. The area is administered by New Forest District Council.
About Milford on Sea:
Milford on Sea offers a unique mix of natural beauty, rich history, and a welcoming community. Tourist attractions in the locality include long stretches of beach coastline, Hurst Castle and spit. The local village green and streets are the retail and commercial hubs boast a range of independent shops, cafes, and high-quality restaurants. Local seafood is a highlight. The village is known for its vibrant community spirit, hosting events like the Milford-on-Sea Food Week and the annual Arts & Music Festival.
Amenities
5 ensuite letting bedrooms on upper floorsGround floor customer areas (70 seats)
Property extends to approximately 2,788 sq ft and set in a 0.283 acre plot
Catchment includes New Forest National Park and bordering market towns
Freehold Guide Price £875,000 or Lease Rent £60,000 pa