Southampton Street, Reading, Berkshire, RG1

The Hop Leaf is set in a prominent roadside position on Southampton Street, one of the main roads leading to Reading town centre and The Oracle Shopping Centre. The town centre is approximately half a mile away from the public house. Half a mile south is a shopping parade in a busy suburb of Reading, near to the London Road campus of the University of Reading and the Royal Berkshire Hospital. It is also close to a selection of amenities including local schools and parks, an abundance of residential housing and the main campus of the University of Reading (only a ten minute walk away).

Reading is predominantly accessed via the M4 motorway and is highly commutable by road to London and Heathrow to the east, as well as Newbury and Bristol to the west. The town has an expanding population and is popular with those working in the capital; the Elizabeth Line provides services into London on the Transport for London network. The line stretches for 60 miles and connects to London Heathrow, Shenfield and Abbey Wood. The population of Reading is approximately 175,000. In addition, many students attend Reading University.

The Hop Leaf occupies a mid-terrace property of brick construction under a pitched, clay tile roof. The property is Grade II listed and is briefly described as follows:

TRADE AREAS
Main entrance off Southampton Street into the MAIN BAR which is a trading space comprising three interconnecting areas with fitted carpets, ceiling timbers, some exposed brick walls, a brick open fireplace and a brick fronted, polished wood topped BAR SERVERY with canopy above and back bar dresser. The main bar is fitted with fixed cushion settles, wooden tables and bar stools to seat around 40 customers.

Beyond the main bar is the BACK BAR with quarry tiled flooring. This area has seating for around 10 customers with wooden tables, chairs and pews.

LADIES' and GENTLEMEN'S CUSTOMER TOILETS.

STOREROOM.

KITCHEN with wash station and an array of stainless steel equipment. Adjacent is a STOREROOM which is used as a UTILITY ROOM with side fire exit. OFFICE. Small GENERAL STORE. Refrigerated BEER CELLAR and BOTTLE STORE.

OWNERS ACCOMMODATION
Located on the first floor, comprising:
THREE DOUBLE BEDROOMS, one larger in size and suitable for use as a SITTING ROOM. SINGLE BEDROOM, BATHROOM, WC and KITCHENETTE.

EXTERNAL
FORECOURT TRADE AREA with bench seating for around 24 customers. To the rear is an enclosed area suitable for use as a barrel store.

The Hop Leaf has been owned by Hop Back Brewery PLC since the early to mid 1990s and has been run under management in recent years. The pub operates on a wet-sales only basis and is popular with the local community, university students and supporters of local sports teams. The Hop Leaf operates as a traditional, real ale public house and has a regular darts team.

We have been advised that the current weekly net turnover is approximately £4,500 and there is scope to increase turnover by adding a food offering. The Hop Leaf is set up to operate with very low staff overheads and, as a consequence, it generates a high percentage of profit. It would suit a publican with a small collection of pubs or, alternatively, an experienced operator who would like to continue to run it as a traditional community free house.

FREEHOLD £420,000 to include goodwill, fixtures and fittings. Stock at valuation in addition.

Or, alternatively

TENANCY: Nil Premium
TERM: Three to Five years
LANDLORD & TENANT ACT 1954: Outside Part II Landlord & Tenant Act 1954
ASSIGNABILITY: Non assignable
BOND: A bond equivalent to three months' rent in advance
RENT: £26,000 per annum, paid monthly in advance
REPAIR LIABILITY: Part repairing and insuring lease agreement. This is not a full repairing and insuring lease with the freeholder retaining responsibility for the structure of the building. The lessee will be responsible for internal maintenance, repair and decoration as well as the decorative condition of the exterior of the property.
FIXTURES & FITTINGS: Will be retained by the Landlord. The Tenant will be responsible for their repair, maintenance and replacement (when beyond repair).
TIE: Partially tied, tied on the following nominated products: draught beer, cask ales, bottled beers, draught cider and perry, bottled cider and perry. Free of tie on wines, spirits and minerals.
INSURANCE: The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent.
VAT: VAT will be payable on the rental payments
OPTION TO PURCHASE: If required, the freeholder will negotiate with the lessee an option to purchase during the term of the initial lease agreement.

No direct approach to be made to the business; please direct all communications through Sidney Phillips.

Viewing strictly by appointment only.