Investment opportunity StaffFinancial profile
Hilton Smythe is delighted to welcome to the market this superb Leasehold investment opportunity. Until very recently a popular wine bar/club venue business, occupied the premises, but has now ceased trading.
The property boasts an impressive 558 sq. Metres of floor space, including a basement bar area with seating for approximately 30 persons. The ground floor hosts the main bar area, which is divided into several areas.
To the first floor is a large flat, which does need extensive refurbishment and could be available by separate negotiation.
In addition, there are 2 Studios and these are currently being rented out for £100 per week and there is potentially another 4 – 5 rooms that could be rented out at a similar price, these are also located above the property.
This is an excellent opportunity for an investor to easily reinstate the business as a nightclub or alternative uses, perhaps a restaurant. Therefore, early viewing must come highly recommended to avoid disappointment.
This Leasehold investment property is ideally located within the town of Boston in Lincolnshire. The property is located within the town centre between the market square and the bus station, therefore benefiting from a very high volume of footfall and passing trade. The area also benefits from excellent car parking facilities.
Boston is a small town and port in Lincolnshire, on the east coast of England. According to the 2011 census, the town borough had a residential population of 64,637. Boston’s most notable landmark is St Botolph’s Church, which is said to be the largest parish church in England. Boston’s market is held every Wednesday and Saturday, with an additional market and outside auction held on Wednesdays on Bargate Green.
The area is very well served by the public transport system, with Boston bus station less than 5 minutes’ walk away. Boston railway station is just over 5 minutes’ walk away. The area is also well served by the a-roads, with both the A16 and A52 being within easy driving distance of the property, which links to the national a-road and motorway networks. Skegness is approximately 22 miles away and King’s Lynn is 33½ miles away.
Substantial premises in an ideal trading location, briefly comprising:
Lower ground floor:
Seating for approximately 30 persons.
Bar with two points of dispense, optics display, two door bottle chiller unit, sink unit and electronic cash register.
Separate area run as a Shisha lounge, with low level sofa seating and coffee tables.
Ground floor with:
Main bar area divided into several areas.
Front area with bench style seating and tables.
Bar with 2 x points of dispense, 2 x two door bottle chiller units, optics display and electronic cash register.
Rear seating area.
Raised stage area.
Split level steps down to ladies and gents’ WCs.
Rear double door fire exit.
Kitchen (currently being installed).
First floor manager’s flat, which could be available by separate negotiation, consisting of:
2 x double bedrooms, one of which is en-suite.
Lounge with kitchen area.
2 Studios and these are currently being rented out for £100 per week and there is potentially another 4 – 5 rooms that could be rented out at a similar price, these are also located above the property.
New signage to be installed.
We are advised Leasehold:
Original lease length: 25 years
Remaining lease length: 20 years
Rent: £16,800 per annum