Global Edition

Profitable leisure complex for sale

1.00am 8th November 2002 - Property

An attractive business opportunity is being brought to the market by HLL Humberts Leisure, chartered surveyors and specialist leisure business consultants of London who have been instructed to sell Wyke Down near Andover in Hampshire.

Wyke Down is a former farm and has been in the same family ownership for three generations, since the early 1940’s. Over the last 20 years a gradual diversification away from agriculture to an integrated mix of commercial leisure uses now provides a very profitable business.

Located in the hamlet of Picket Piece, just 2 miles from the rapidly expanding market town of Andover and close to the main A303 trunk route, Wyke Down is set to benefit from the further growth of the town as identified in the draft Local Plan which will add more than 7,000 new homes and business park development to the immediate vicinity.

Lot 1 features a public house of considerable character and charm which was converted from a traditional farm building in the mid 1980’s and substantially extended in 1998 to include a 100 cover restaurant and function room. Nearby is the attractive, 4 bedroom, Wyke Down farmhouse, dating from 1873, with adjoining administration offices. Laid out to the north and west of the public house in about 12 acres is a touring caravan park with a site licence for 219 seasonal pitches.

Lot 2 is the golf driving range, set in nearly 8 acres and developed in the early 1990’s to provide 10 open bays and 10 covered bays and a practice bunker. There is also a large modern storage barn that could be split between the two lots. An additional 21 acres of adjoining land is available by separate negotiation.

The well-established family run business, gradually developed over the years, now offers a number of inter-related profit centres all with considerable scope for generating additional income. The jewel in the crown is undoubtedly full planning consent for a two-storey, 20 bedroom, hotel block with staff facilities which would neatly capitalise on the anticipated increase in demand for hotel bed space with the continuing expansion of nearby Andover.

John Mitchell, who is handling the sale at HLL Humberts Leisure commented, “Wyke Down is an excellent example of rural diversification to meet the various leisure needs of a rapidly expanding commercial and residential centre. With the added benefit of further development opportunities on site, we expect keen interest in this property.”

HLL Humberts Leisure is offering Wyke Down for sale freehold as a whole or in two lots, as a going concern, with a guide price of £1.5 million for the whole..

HLL Humberts Leisure www.humberts-leisure.com

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