The Strait And Narrow, 29-31 The Strait, Lincoln, LN2 1JD
£283.33 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
3,000 sq ft
279 sq m
- SECTOR
Pub for sale
Key features
- 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
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.
Strictly by prior appointment via the sole agents P&F Commercial Tel: or via email
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.
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.
We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.
Brochures
The Strait And Narrow, 29-31 The Strait, Lincoln, LN2 1JD
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lincoln Central Station0.4 miles
- Hykeham Station3.6 miles
About P&F, Commercial
18 Midland Court Station Approach Oakham Rutland LE15 6RA
P&F Commercial are the only dedicated sole Commercial Estate Agency in Rutland with unrivaled regional knowledge and forty years’ combined experience. P&F Commercial can offer the kind of assurance and exceptional personal attention clients know they can depend on when making important commercial property decisions.
Notes
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