Restaurant/cafe to let in Eastgate, Lincoln LN2
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The property comprises a well-established restaurant premises laid out at ground, first and basement floor levels, with a yard to the rear that would be ideal as an outside seating area. The existing restaurant layout provides 70 seats over the ground and first floor trading areas.
Eastgate is located within the popular Uphill ‘Bailgate’ area which is populated with a wide range of top end retailers and restaurants.
The world famous Cathedral and Castle, the latter having seen significant investment to create a home for the Magna Carta over the past two years, are situated close by, meaning the area attracts significant tourist visitors as well as local shoppers. The latest tourist figures report over 3.5 million visitors a year to the City.
Lincoln is one of England’s finest Cathedral Cities and is the administrative and major shopping centre within the County of Lincolnshire. It is ranked fourth in the East Midlands Experian Centre Rating, behind Nottingham, Derby and Leicester. It has a population and catchment of 543,367 and an established total catchment spend of £984.50 million.
The current use of the property falls within Class A3 (Restaurant and Café) of the Town and Country Use Classes Order 1987, as amended.
The property is Listed, and is also situated within a Conservation Area.
It is considered that the first floor has potential for conversion to residential accommodation, subject to the receipt of Planning Permission and Landlord’s approval.
The property is available by way of a lease expiring September 2026.
The rent payable under this lease is as follows:
Until September 2017 - £13,200 per annum
September 2017-2018 - £14,400 per annum
September 2018-2019 - £15,600 per annum
September 2019-2020 - £17,400 per annum
September 2020-2021 - £19,200 per annum
September 2021-2026 - £22,000 per annum
The lease is drawn on Full Repairing and Insuring terms.
Premium offers are invited for this valuable leasehold interest reflecting the low passing rent until lease expiry in 3 years’ time, in relation to Full Rental Value of the property and the superb Uphill location.
The various fixtures and fittings in situ are also available separately at a price to be agreed.
We understand that VAT will not be charged in addition to the rent.
To view the premises and for any additional information please contact the sole agents.
Robin Hood Airport
East Midlands Airport
Hull Ferry Terminal
West Lynn Ferry Landing
King's Lynn Ferry Landing
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The Lincoln St Peter-in-Eastgate Church of England (Controlled) Infants School
The St Faith and St Martin Church of England Junior School, Lincoln
Broughton House College
Lincoln Minster School
Lincoln Christ's Hospital School
Lincoln Castle Academy
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About the neighbours in LN2
* Sizes listed are approximate. Please contact the agent to confirm actual size.
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Banks Long & Co, and do not constitute property particulars. Please contact Banks Long & Co for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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