Investment for sale in Old Portsmouth

AUCTION PROPERTY The Duke of Buckingham Pub and Hotel is a landmark property. Located on the High Street in Old Portsmouth it is close to the City Cathedral, Square Tower and Hot Walls with Southsea seafront and Gunwharf Quays a short distance beyond. Previously a popular and well known establishment for many years before more recently becoming an Italian restaurant. The building offers 14 guest bedrooms spread over three floors.

The property would be ideally suited to continued use as a pub/restaurant with hotel rooms in a popular tourist area of the City. Alternatively the building offers scope to be redeveloped into residential accommodation and planning consent is in place for conversion if required.

Planning Permission
Conditional Planning Permission was granted by Portsmouth City Council under 24/01085/FUL, we understand from our client that the nitrates contribution has been settled and full consent will be granted imminently. A copy of the consent will be available in the legal pack, once it is received. The consent is for conversion of existing hotel and restaurant to form eight apartments (Class C3) to include construction of rear extensions at ground, first, and second floor, with refuse and cycle storage and other associated works (Updated drawings received), subject to conditions.

A copy of the Planning Permission and accompanying documents may be downloaded from the Local Planning Authority website, portsmouth.gov.uk. Tel: 023 9283 4334.

Pub/Restaurant
Customer seating, serving area and bar, kitchen, preparation areas, cold storage, staff room and additional storage, rear entrance, customer and staff W.C.s.

Basement
Storage areas, cold storage and drinks cellar.

EPC Rating
C (52). Total Floor Area 275 sq.m.

Hotel
Ground Floor
Entrance hall, reception office, one bedroom to rear with en-suite shower room and W.C.

First Floor
Landing, three bedrooms with en-suite shower rooms and W.C.s, two bedrooms without en-suites and additional communal shower room with W.C.

Second Floor
Landing, four bedrooms with en-suite shower rooms and W.C.s.

Third Floor
Landing, four bedrooms with en-suite shower rooms and W.C.s.

EPC Rating
B (46). Total Floor Area 234 sq.m.
C (62). Total Floor Area 11 sq.m.

Freehold with Vacant Possession

Commercial EPC: B

Important:
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.

Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to www.cliveemson.co.uk/buyers-fees/