£850,000

Pub/bar for sale

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Freehold

Offers in region of

£850,000

(£283.33/sq. ft)

Pub/bar for sale

The Strait And Narrow, 29-31 The Strait, Lincoln LN2

3,000 sq. ft

Local area information

Property location

Nearby amenities

  • Westgate Academy 0.4 miles
  • Lincoln Minster School 0.4 miles
  • Lincoln 0.4 miles
  • Hykeham 3.5 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Read our area guide for Lincoln to find out more about the local area.

Features and description

  • Freehold
Key Points

  • Income producing £50,000 to £55,000 per annum
  • Finance available / good pension investment
  • Prime location at the base of 'Steep Hill'
  • Well established tenants - New lease being agreed

  • Description

    We are offering this investment opportunity for sale with an existing tenant in place. 29-31 The Strait is located on the pedestrianised street at the base of the national landmark known as 'Steep Hill' in Lincoln. The building is brick built with large glass frontage.

    Building 29 is set over 2 floors and 31 over 3 with the upper floors currently used as stock storage. The Strait and Narrow is a popular retro bar operating out of this location for the past 7 years and is currently acting out a 10 year lease within the 1954 act and a rent review scheduled for year 9.

    Location

    The Strait and Narrow is well positioned on The Strait which feeds directly to the base of 'Steep Hill', a pedestrianised link between the High Street and Lincolns famous Cathedral and Castle. This stretch comprises a mix of boutiques and restaurants with a high foot flow. Lincoln's population is around 109,974 and is a vibrant student city and benefits from over 600,000 tourist visiting this historic city annually.

    Viewings

    Strictly by prior appointment via the sole agents P&F Commercial Tel: Or via email

    Terms

    Offered for sale as an investment subject to the tenant in situ.
    The lease is due for renewal and provisional terms are agreed for a new 10 year lease, within the 1954 Act, with 5 yearly reviews at a new passing rent at £55,000.

    Availability_Text

    The accommodation comprises the following areas:

    Services

    We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

    More information

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    1. Zoopla
    2. Commercial for sale
    3. Lincolnshire
    4. Lincoln
    5. The Strait

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