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Steep Hill, LincolnA3 - Restaurants / Cafes

£95,000
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About this property

LOCATION
The property occupies a prime position on Steep Hill, famed for its eclectic mix of Boutiques and Restaurants and located within the main historic tourist district of Lincoln, providing a pedestrian link to Lincoln High Street to the South and Lincoln Castle and Cathedral to the North. The Steep Hill and Bailgate areas are very busy tourist attractions. Lincoln has a population of around 130 residents and is a vibrant city which in addition to its rich, cultural history, has a fast growing University and other excellent facilities resulting in Lincoln being a popular tourist destination and place to live.

DESCRIPTION
An exciting opportunity to acquire an established Tea Room/Café Business situated within Lincoln’s Primary Tourist District, the famous ‘Steep Hill’, the medieval cobbled pedestrian link between Lincoln’s High Street and the Bailgate District, which includes the Castle and Cathedral.

Pimento Tea Rooms offers dining space at ground and first floor level, together with outdoor seating to the rear. Additionally, there is office and storage accommodation at first and second floor level, which provides for further potential for expansion if required. The premises also have fully equipped kitchen facilities and in addition, further ground floor retail space currently sublet and generating an excellent income stream.

Pimento Tea Rooms has been established as a successful Vegan/Vegetarian Café and Tea Room for the last 27 years and is tastefully appointed and well-presented throughout.

ACCOMMODATION
Ground Floor

Dining Area 1 (3.8m x 4.2m) – With attractive Period fireplace and window overlooking Steep Hill.

Upper Ground Floor Dining Area 2 (3.6m x3.8m) – Overlooking the rear courtyard.

Dining Area 3 (2.8m x 4.5m) – With staircase off and access to Kitchen.

Kitchen (2.9m x 7.7m) – Fully equipped with an excellent range of catering equipment and providing access to the outside Dining Area and WC Facilities.

First Floor

Dining Area 4 (4m x 4.3m) – With exposed floorboards, Period fireplace and attractive bay window overlooking Steep Hill.

Dining Area 5 (4.5m x 3.7m) – With Period fireplace and sash window to the rear.

Store Room 1 (3m x 3m) – Fully equipped with refrigeration facilities.

Store Room 2 (3m x 3.2m) – With stainless steel sink unit and bathroom/WC off.

Second Floor

Office/Store to the front (4.4m x 3.9m) – With two sash windows overlooking Steep Hill.

Third Floor

Attic Storeroom (4.5m x 2.7) – Providing an additional useful storage area.

SERVICES
Mains drainage, gas, electricity and water are all understood to be connected. Heating is via electric storage heaters.

EPC Rating – E

TERMS
Lease Terms.

The property is held under the terms of a Lease created in December 2015 for a term of 10 years. The current Passing Rent is £24,000 per annum. The ground floor retail space which is currently sublet generates an income, which contributes towards off-setting the rent payable to the Landlord. Further details are available on request.

OUTGOINGS
Rateable Value – £13,000
Rate to the pound for 2017/18 is 47.9 pence

The ground floor accommodation, currently sublet, is separately assessed for rating purposes.

It is possible that Small Business Rates Relief may be available through current Government Incentives. Further details should be made to the Local Rating Authority.

LEGAL COSTS
The ingoing Tenant is responsible for a Referencing Fee of £100 inc VAT, together with the Landlord’s reasonable legal costs associated with assigning/restructuring the Lease.

VIEWING
By prior appointment through Mundys Commerical – 01522 556088

Energy Performance Cerificate (EPC)

Floorplan