Savills, on behalf of a private vendor, has sold the Inn on the Beach on Hayling Island in Hampshire to the City Pub Company for £1.5m. The property was sold as a going concern with all staff transferring under employment regulations.
Located directly on the beachfront in South Hayling, the Inn on the Beach is a detached two storey property with multiple trading areas including seating inside for 150 covers and a substantial 3,000 sq ft (279 sq m) beach facing trading patio.
Adam Bullas, director in the Savills licensed leisure team, commented, “We’re pleased to have secured the sale of the iconic Inn on the Beach, which has become a year round destination on Hayling Island. We are seeing strong interest in pubs on the south coast and expect values for the best assets to continue to grow.”