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The Strait, LincolnA3 - Restaurants / Cafes

£55,000
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About this property

LOCATION
Located on The Strait in Lincoln, it is positioned in the heart of Lincoln City Centre and within walking distance of the Historic Bailgate area and the famous Lincoln Cathedral. The Cathedral City of Lincoln is the major administrative and shopping centre within Lincolnshire, having a resident population in the region of 90,000. The restaurant location also benefits from being close to the heart of all Uphill events, including the lucrative Lincoln Christmas Market, which brings over 200,000 visitors to the Bailgate each year.

DESCRIPTION
For the Lease and Fixtures & Fittings – Mundys are pleased to offer TO LET this popular Indian Restaurant in the heart of Lincoln City Centre, located on The Strait, at the bottom of the famous ‘Steep Hill’. The restaurant is within walking distance of the Bailgate and the Cathedral Quarter. The fixtures and fittings are available in consideration for £55,000. The rent for the premises is £25,000 per annum. The building extends to 164 sq.m (1,765 sq.ft.) across three floors and includes a one bedroomed flat and roof terrace, which are included in the lease. The restaurant facilities consist of; Ground Floor Dining Area/Waiting Room, Kitchen and Store Room. At First Floor, there is another Dining Room, Male & Female W.C’s, Store Room and a Roof Terrace.

ACCOMMODATION
Ground Floor
Dining Area & Waiting Area – 3.8m x 14.2m – Having window to the front and waiting area/bar at the rear and giving access to the kitchen. Also having stairs to first floor dining area and toilet facilities.

Kitchen – 4.1m x 5.3m – Having a fully equipped professional kitchen and access to store room.

Store – 3.8m x 5.3m – Having access door to the rear which leads to stairs for the roof terrace.

First Floor
Dining Area – 3.8m x 9.1m – Having a window to the front and access to male and female W.C’s

Store – 1.25m x 3.62m – Having access door to the roof terrace.

Second Floor
Also included with the restaurant is a one bedroom flat which has external access via the roof terrace.

SERVICES
All mains services are connected to the property.

TERMS
The property is available fully equipped with all business fixtures and fittings in return for a payment of £55,000. The property is available to rent under the terms of a new lease for a term of years to be agreed at a rental of £25,000 per annum.

OUTGOINGS
Rateable Value – £12,563

In the event that a full rating liability is required, the current rates payable would be approx. £6,300 (Rate to the pound for 2019/20 is 50.4 pence).

Prospective Tenants are likely to qualify for Small Business Rates Relief, but interested parties should make their own enquiries.

VAT
To be confirmed.

LEGAL COSTS
The ingoing Tenant will be required to pay £100 (inc VAT) referencing fee and will be responsible for the legal costs associated with preparing the Lease.

VIEWING
Via Mundys commercial on 01522 556088

Energy Performance Cerificate (EPC)

Floorplan