g Freehold tapas bar and restaurant in a sought after location near waterside and City Centre

g 110 internal dining covers with terrace to front

g Business established for over 22 years

g Uppers include two-bedroom self contained flat finished to a high standard

g Large open plan storage area on third floor with planning permission to add a fourth floor, extend to rear and at kitchen level

g Two-double bedroom self contained owner’s flat

Licensed LeisureLa Regata Restaurant & BarTown Quay, Southampton, Hampshire, SO14 2ARFreehold £1.295m or Leasehold Offers

savills.co.uk

Savills Southampton2 Charlotte PlaceSouthampton SO14 0TB

+44 (0) 23 8071 3900

Location

La Regata occupies a prominent location on Southampton’s Town Quay, approximately 0.6 miles south of the city’s main retail area and the West Quay shopping centre.

Immediately opposite the building is the Red Funnel Ferry Terminal (services to the Isle of Wight) and the Town Quay complex which comprises offices, marina and yacht services. The immediate area is mainly residential, commercial and leisure businesses.

The property benefits from a unique position adjoining the city’s ancient wall and overlooking the River Test.

Description

A prominent character Grade II Listed building which occupies an end terrace location and is arranged over three floors from street level. The property benefits from ample floor to ceiling height and numerous period features throughout with an extensive south-facing frontage which includes six sash windows.

Ground floor: Open plan restaurant (50 covers) with bar servery, ladies WCs and trade kitchen to the rear. Further trading space is provided on a mezzanine area (60 covers) with gents WCs. Ancillary space at ground floor level is located behind a stud wall and is currently used for basic food preparation and storage. Private access to the uppers floors is also provided via a stairwell.

First floor: The self-contained private accommodation is of high quality and has recently been refurbished throughout.

Second floor: Under a Mansard style roof is a substantial open plan space currently used for storage purposes.

External areas: Customer seating around café style tables (20).

*Note that the approved planning permission will create additional space for the restaurant, including extended kitchen area, relocation of all WCs and food-prep area at mezzanine level.

According to the VOA website, for Business Rates purposed, the areas have been calculated as follows:

Sq m Sq ft

Ground Floor 132.3 1,424

Mezzanine Floor 40.1 432

First floor Residential/not measured

Second Floor 112 1,206

Total 284 3,062

The Business

The Vendors have owned and operated the family run La Regata Tapas Bar & Restaurant for over 22 years. It has an reputation as an authentic tapas venue which is popular for casual lunch and dinner as well as celebrations. The venue benefits from local and destination custom, and proximity to events including Britain’s largest water based festival, the annual Southampton Boat Show as well as premium hotels. An indication of trade levels is available on request. For more information on the business please visit www.laregata.co.uk. There is potential to apply for additional planning to create up to 10-boutique hotel rooms. Interested parties should make their own inquiries.

Licences

There is a premises licence that permits various activities, including Sale of Alcohol Monday to Saturday 10.00-00.00 and Sunday 12.00-23.30 A pavement licence is in place for external seating (details available on request).

Fixtures & Fittings

We understand that all fixtures and fittings owned outright by our client will be included as part of the sale price (excludes stock at valuation).

Above: Residential accommodation

Above: Proposed Rear Elevation

Important Notice

Savills, their clients and any joint agents give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | February 2016

NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

Tenure & Price

Freehold. We are seeking unconditional offers of £1,295,000 for the freehold interest inclusive of fixtures and fittings. Stock at valuation is in addition on completion. Prices quoted may be subject to VAT provisions at the prevailing rate.

Rating

The subject property is listed in the 2010 Rating List with a Rateable Value of £24,000. The National Multiplier for England and Wales for 2015/16 is £0.493.

Planning

We have made informal enquiries of Southampton City Council and understand planning permission has been granted for construction of a three storey rear extension and raising of roof to create a large duplex apartment with roof garden and balcony, extension to restaurant facilities, provision of additional parking spaces and internal and external alterations (as amended) by plans. We understand the property is Grade II listed and situated within a conservation area.

For all planning enquiries please contact Southampton City Council Planning Department on 023 8083 3000.

Energy Performance Certificate

The subject property is exempt from EPC rating.

Viewing

For a formal viewing, strictly by appointment with Savills.

Contact

Chris Bickle Kevin Marsh cbickle@savills.com kmarsh@savills.com 023 8071 3943 023 8071 3959