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Former Pub Restaurant Near Lincoln University For Sale

Lincoln, Lincolnshire
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Former Pub Restaurant Close To University In Lincoln For Sale Photo 1
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Former Pub Restaurant Close To University In Lincoln For SaleFormer Pub Restaurant Close To University In Lincoln For SaleFormer Pub Restaurant Close To University In Lincoln For SaleFormer Pub Restaurant Close To University In Lincoln For SaleFormer Pub Restaurant Close To University In Lincoln For SaleFormer Pub Restaurant Close To University In Lincoln For SaleFormer Pub Restaurant Close To University In Lincoln For SaleFormer Pub Restaurant Close To University In Lincoln For Sale
  • Status

    FOR SALE

  • Date Submitted:

    16/04/22

  • Advert ID

    293929

  • Freehold: £450,000
  • Leasehold: £90,000
  • Rent: £28,000
  • Turnover: Not Applicable
  • Net Profit: Not Applicable

Key Features

  • Free of Tie Leasehold
  • Prime Location
  • Fully Fitted
  • Currently Closed
  • New Lease
  • Town Centre location
  • Offers Invited

Business Details

Former Pub Restaurant Close To University In Lincoln For Sale

Highly visible former pub/restaurant for sale 

The property is in a highly visible position fronting Lincoln High Street benefiting from strong passing traffic and footfall. It is within walking distance of the core city centre retail area and the University in Lincoln.

Lincoln is a growing University City with over 15,000 students, contributing greatly to the local economy. It is also experiencing extensive investment into its local road networks and city centre, with the new transport hub and Cornhill redevelopment being notable projects.

DESCRIPTION -

Formerly a public house, the property is a substantial three-storey building with a 5.29m glazed frontage onto Lincoln high street. It is currently occupied as a restaurant on the ground floor, having a modern fit out dining area and large commercial kitchen.

The first and second floor accommodation is accessed via an internal staircase and is currently laid out as a range of karaoke rooms that are popular amongst local students.

In the agent's opinion, the first and second floor of the property also offers fantastic conversion opportunities to residential, subject to necessary planning permissions.

ACCOMMODATION –

  • Floor Use
  • Ground: Dining / Bar 1,182 (FT2)
  • Kitchen 645(FT2)
  • Walk-in Freezer
  • Disabled WC
  • First: Karaoke room one 192(FT2)
  • Karaoke room two 175(FT2)
  • Karaoke room three 112(FT2)
  • Karaoke room four 215(FT2)
  • Ancillary storage
  • Second Bedroom/storage 102(FT2)
  • WC/shower room
  • Living space / Storage 278(FT2)
  • Basement Storage and beer systems 886(FT2)

SERVICES –

Mains services: gas, electric water and drainage are available to the property. Heating to the property is currently provided via two gas-fired boilers.

OUTGOINGS 

  • Rateable Value: £13,000
  • Business Rate Multiplier: 0.497
  • Charging Authority: Lincoln
  • Year: 2018/19

TENURE 

For sale freehold or leasehold including all fixtures and fittings.

LEGAL COSTS –

Each party will be responsible for its own legal costs.

ENERGY PERFORMANCE CERTIFICATE –

The property currently has an EPC rating of F-132

VIEWING –

To view the premises and for any additional information please contact us.

For more information, please contact us by using the form below.

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Stay Safe

Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.

Stay Safe

The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

Stay Safe

Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.

Stay Safe

Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

Stay Safe

Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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