About this property
The property is located centrally on Burton Road, an established and busy mixed commercial/residential district, within the ever popular uphill district of Lincoln, convenient for all of Lincoln’s tourist attractions including the Cathedral, Castle and Bailgate/Steep Hill shopping districts. The area is also densely populated, being a prosperous residential area.
Prominently located on the popular and vibrant Burton Road Shopping Area, we are pleased to offer for sale this established and thriving Hot Food Takeaway Business, with living accommodation above. The property is held on Lease with 17 years remaining on very competitive Lease terms and the business has successfully traded for many years and offers further potential for expansion. The premises are fully equipped and in addition to the ground floor takeaway premises, the property has the benefit of first floor living accommodation.
The premises comprise a ground floor hot food takeaway facility comprising a spacious Reception/Seating Area, together with a fully equipped Kitchen, Preparation Rooms and refrigerated storage.
At first floor level, there is a Living Room, Bedroom and Bathroom/WC combined.
The business accommodation is fully equipped with a range of catering equipment and a full inventory of fixtures and fittings is available.
The business has been successfully trading for a number of years and financial accounts are available to all seriously interested parties. The business has the benefit of a 4* Food Hygiene Rating.
This briefly comprises;
Retail Area/Reception – 3.5m x 3.8m.
Equipped with a serving counter, laminate flooring and a seating area.
Kitchen – 3.6m x 3.8m
Fully equipped to catering standards, having a tiled floor and stainless steel equipment including gas burners with extractor hood and ovens.
Preparation Room 1 – 1.8m x 4m
Once again, fully equipped with stainless steel catering equipment.
Preparation Room 2 – 1.6m x 3m
Also finished to a catering standard, with tiled floor and stainless steel sink units and associated fixtures.
Externally, there is a refrigeration unit and a large, secure store, all located to the rear.
Living Room (to front) – 3.6m x 3.6m
With bay window overlooking Burton Road.
Rear Lobby and Bedroom – 3.6m x 3.9m.
Bathroom/WC – 1.8m x 4m
Fitted with a three piece white suite comprising; panel bath, pedestal wash hand basin and shower unit.
Mains drainage, gas, electricity and water are all understood to be connected.
EPC Rating – E
The property is available by way of assignment of an existing Lease, which expires on 3rd July 2034. The current Passing Rent for the entire building is £9,000 per annum and the next Rent Review date is 31st May 2021. Further details are available on request.
The ingoing Tenant will be responsible for a referencing fee in the sum of £100 inc VAT, together with a contribution towards the Landlord’s reasonable legal costs associated with the assignment of the Lease.
The current Rateable Value is £3,400.
In the event that a full rating liability is required, the current rates payable would be £1,715 (Rate to the pound for 2019/20 is 50.4 pence).
Prospective Tenants are, however, likely to qualify for Small Business Rates relief which, under the current framework, would give up to 100% exemption of rates liability. Interested parties should make their own enquiries.
VAT may be applicable in addition to the purchase price.
By prior appointment through Mundys.