About this property
The property is prominently positioned, with frontage directly onto Gainsborough Road (A57) on the western fringe of the popular village of Saxilby, which is situated approximately 7 miles west of Lincoln. The village of Saxilby has a population of circa. 4,500 residents and there are plans for further growth and development.
This prominently positioned property represents an excellent opportunity for someone to takeover this well-equipped property that has excellent potential, given its size and location. The property further benefits from spacious first floor living accommodation and a large plot, with outdoor parking and seating areas, adjacent to the Fossdyke Canal.
This substantial property is fully equipped at ground floor level, to provide open-plan dining space, together with a Bar Lounge/Reception Area, Conservatory and a fully equipped Kitchen. There is dining space for approximately 100 covers.
The fully equipped Kitchen is fitted-out for indian catering to include a tandoori range and there are ancillary stores, preparation areas and refrigeration equipment.
At first floor level, the living accommodation provides for a Living Room, Three Bedrooms and Bathroom/WC.
Externally, the property has uPVC double glazing throughout and internally, an LPG fired gas central heating system is installed.
The property occupies a large plot, with a substantial car park to the right hand side of the building, providing parking space for around 20 vehicles. In addition, there are garden areas to the rear, which would provide a delightful outdoor dining/seating area, overlooking the Fossdyke Canal. It is also understood that it is possible to moor boats along the canal, with there being a direct access for boaters to the restaurant.
Mains drainage, electricity and water are understood to be connected. An LPG gas heating system and LPG fired cooking equipment is installed.
EPC Rating – D.
The property is available ‘To Let’ by way of assignment under the terms of the existing Lease dated 31st July 2014 for a period of 25 years, at a current rent of £26,000 per annum. Further details are available on request.
Rateable Value of £10,750.
In the event that a full rating liability is required, the current rates payable would be approximately £5,280 per annum (Rate to the pound for 2019/20 is 49.1 pence).
Prospective Tenants are likely to qualify for Small Business Rates Relief which, under the current framework, would give up to 100% exemption of rates liability, but interested parties should make their own enquiries.
VAT may be applicable in addition to the sale price.
The ingoing Tenant is responsible for the Estate Agent’s referencing fee (£100 inc VAT) together with the Landlord’s reasonable legal fees associated with producing the Lease. Further information is available on request.
By prior appointment through Mundys Commercial.