DORSET - RESTAURANT WITH ROOMS IN ABBEY TOWN CENTRE
Sherborne, Dorset
Ref: 46507
Leasehold
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Key Features
Location
The Newell Restaurant & Rooms is contained in a prominent building beside the A30. The property is on a wide stretch of road set back from a forecourt which provides parking facilities. The business is situated adjacent to Sherborne International School and a short walk from Sherborne’s other independent schools for which the town is noted. Sherborne is a historic Dorset town, the home of two castles, one being a Tudor mansion with Capability Brown landscape gardens. The other is now a 12th Century derelict ruin which was once the home of Sir Walter Raleigh. Sherborne is an affluent town with many independent shops. It benefits from a having a station within the town centre, which has regular service to London Waterloo.
Newell Restaurant & Rooms is in a prime catchment location.
Newell Restaurant & Rooms is in a prime catchment location.
Property
TRADE AREAS
The front entrance hall and inner hallway gives access to the RESTAURANT, which currently has 16 covers and has an overflow private dining for a further 10. The capacity can easily be increased. The restaurant has modern furnishings, tables and chairs and a display feature which separates the dining areas. RESIDENTS LOUNGE with brick fireplace, part tiled floor. This also has facilities for guests including a snack kitchen facility with microwave, refrigerator and modern units.
A further front entrance leads into the FORMER PUBLIC BAR which has character including part slate, part flagstones and part floorboards. Natural wood panelled bar servery counter with canopy over and back bar display. The public bar and associated areas are not used by the current owners.
Large storage space including an INTEGRAL GARAGE with double fold back doors. Original BEER CELLAR with refrigeration units. WORKSHOP. FORMER BREAKFAST ROOM now used as an overflow kitchen. MAIN COMMERCIAL KITCHEN with safety floor covering and a vast range of commercial equipment. COFFEE PREP ROOM. LADIES AND GENTLEMAN’S TOILETS.
LETTING ACCOMMODATION
FIRST FLOOR
Providing FIVE HIGH QUALITY EN SUITE ROOMS these are double or king sized, all have high quality en suite shower rooms and being walk in wet rooms. Modern furniture and fitted carpets. Walk in COFFEE ROOM.
OWNERS ACCOMMODATION
The owners accommodation is comprised in a separate flat. SITTING ROOM, TWO DOUBLE BEDROOMS, one of which is particularly spacious, FAMILY SHOWER ROOM, CONSERVATORY KITCHEN/DINER.
EXTERNAL
To the rear of the property there is roof top terrace. Large terraced mature grounds. BOILER ROOM. Enclosed rear yard.
The front entrance hall and inner hallway gives access to the RESTAURANT, which currently has 16 covers and has an overflow private dining for a further 10. The capacity can easily be increased. The restaurant has modern furnishings, tables and chairs and a display feature which separates the dining areas. RESIDENTS LOUNGE with brick fireplace, part tiled floor. This also has facilities for guests including a snack kitchen facility with microwave, refrigerator and modern units.
A further front entrance leads into the FORMER PUBLIC BAR which has character including part slate, part flagstones and part floorboards. Natural wood panelled bar servery counter with canopy over and back bar display. The public bar and associated areas are not used by the current owners.
Large storage space including an INTEGRAL GARAGE with double fold back doors. Original BEER CELLAR with refrigeration units. WORKSHOP. FORMER BREAKFAST ROOM now used as an overflow kitchen. MAIN COMMERCIAL KITCHEN with safety floor covering and a vast range of commercial equipment. COFFEE PREP ROOM. LADIES AND GENTLEMAN’S TOILETS.
LETTING ACCOMMODATION
FIRST FLOOR
Providing FIVE HIGH QUALITY EN SUITE ROOMS these are double or king sized, all have high quality en suite shower rooms and being walk in wet rooms. Modern furniture and fitted carpets. Walk in COFFEE ROOM.
OWNERS ACCOMMODATION
The owners accommodation is comprised in a separate flat. SITTING ROOM, TWO DOUBLE BEDROOMS, one of which is particularly spacious, FAMILY SHOWER ROOM, CONSERVATORY KITCHEN/DINER.
EXTERNAL
To the rear of the property there is roof top terrace. Large terraced mature grounds. BOILER ROOM. Enclosed rear yard.
The Business
In the present owners hands since 2019, since which time the business has converted from a traditional public house with letting accommodation to a restaurant with high quality rooms. The business is run casually by the present owners who close for periods of the year to enable them to travel. There is considerable trade drawn from the local community with a particularly good relationship with the independent schools of Sherborne. The business does not tend to supply breakfast to the guests. The turnover is approaching £200,000 with particularly high levels of profitability.
Tenure
LEASEHOLD: £95,000 to include fixtures & fittings and goodwill. Stock at valuation in addition.
TERM: For a term of 5 years beginning February 2019
LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954
ASSIGNABILITY: Fully assignable
DEPOSIT: The successful applicant will be required to lodge with the freeholder a deposit equivalent to [3] month’s rent in advance
RENT: Annual rent £25,000 paid monthly in advance
RENT REVIEW: Subject to rent reviews every fifth year of the term, the next being February 2024.
REPAIR LIABILITY: Full repairing and insuring lease agreement
TIE: Free of all trade ties
INSURANCE: The cost of the building insurance is made by the Landlord who recharges the Tenant by way of an Insurance Rent
VAT: Please note that VAT will not be payable on the Premium, however will be payable on the rental payments
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
TERM: For a term of 5 years beginning February 2019
LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954
ASSIGNABILITY: Fully assignable
DEPOSIT: The successful applicant will be required to lodge with the freeholder a deposit equivalent to [3] month’s rent in advance
RENT: Annual rent £25,000 paid monthly in advance
RENT REVIEW: Subject to rent reviews every fifth year of the term, the next being February 2024.
REPAIR LIABILITY: Full repairing and insuring lease agreement
TIE: Free of all trade ties
INSURANCE: The cost of the building insurance is made by the Landlord who recharges the Tenant by way of an Insurance Rent
VAT: Please note that VAT will not be payable on the Premium, however will be payable on the rental payments
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Licence
A full premises licence is held.
Services
All mains services are connected. Gas fired central heating.
Rateable Value: £15,500
Local Authority: Dorset Council
Rateable Value: £15,500
Local Authority: Dorset Council
Enquire about this listing
Joseph James
Wessex
