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Restaurant for sale

The Esplanade, Chapel St Leonards, PE24

£389,950

Property Description

Key features

  • Investment Opportunity
  • Income 35,100 PA
  • Mixed Use
  • Ground Floor Bar Premises
  • 5 Flats to First Floor
  • Individually Leased
  • Prominent Location
  • EPC Ratings: Flats 1, 2, 3 & 4 - E
  • Flat 5 - D

Full description

Tenure: Freehold

Pygott and Crone are offering a valuable freehold investment for sale by way of a private treaty located within the seaside resort of Chapel St Leonards. The property currently benefits from an income of collectively £35,100 per annum (collected weekly).

The ground floor contributes £10,400 per annum towards the collective annual income and is subject to a 1 year lease which was agreed in October 2015. The accommodation comprises on ground floor; Bar, Cellar, Kitchen; Rear Yard and to the first floor there are 5 self-contained flats.



SITUATION 
Chapel St. Leonards is a village in Lincolnshire on the east coast of England and is situated just 5 miles to the north of the resort of Skegness. It is administered by East Lindsey District Council. The village is primary a location for caravan park holidays, with its main attraction being several miles of beaches. There are also four toilet blocks for public use, administered by Chapel St Leonards parish council. The village is close to the many attractions this region has to offer, including Fantasy Island, market towns, and the Lincolnshire Wolds.

DIRECTIONS 
Proceed into the village of Chapel St Leonards on Sea Road. The property can be found towards the sea front behind the Co-Op.

DRAFT DETAILS 
PLEASE NOTE THESE ARE DRAFT PARTICULARS AWAITING FINAL APPROVAL FROM THE VENDOR, THEREFORE THE CONTENTS HEREIN MAY BE SUBJECT TO CHANGE AND MUST NOT BE RELIED UPON AS AN ENTIRELY ACCURATE DESCRIPTION OF THE PROPERTY.

ACCOMMODATION 
A UPVC double glazed entrance door provides access to

BAR AREA 
23.48m x 7.31m
(171sqm/1847sqft) Having a dance floor and DJ booth; dart board area to wall at front elevation; and a double door access to rear yard/seating area. The main bar benefits from a range of shelving beneath; and glass racking to the rear mounted to the wall, and spot lighting over. Having ample seating area, fluorescent lighting, two three panel windows to front elevation.

KITCHEN 
4.32m x 2.97m
(12.8sqm/139sqft) Having a fitted work surface, with two double base units, a double stainless steel sink, with drainer, and shelving below, vinyl floor covering, a further fitted work surface with space for a free standing fridge unit, a Leisure oven with electric hob and extraction fan hood. A UPVC panel door leads to the rear.

CELLAR 
4.27m x 4.71m
Having a double door to rear, fluorescent lighting, wash hand basin and a concrete floor.

GENTS CLOAKROOM 
Having four urinals, fluorescent lighting, pedestal wash hand basin, tiled floor coving, two low level WC's.

LADIES CLOAKROOM 
Having two wash hand basins, four low level WC's, tiled floor covering and fluorescent lighting.

ENCLOSED REAR YARD 
Providing external seating and smoking area; potential for car parking space.

. 
A separate stair case provides access to the 5 Residential Flats.

FLAT 3 
Accommodation comprising

LIVING AREA 
4.22m x 5.32m
Having a wood effect laminate floor, fitted work surace with inset stainless steel sink and draining board, tiled splash backs, oven and electric hob with extractor hood, UPVC double glazed window to front elevation, double UPVC doors over looking the front elevation, electric sockets and TV aerial point.

BEDROOM 
3.32m x 2.99m
Having a UPVC double glazed window to front elevation and built-in wardrobe.

BATHROOM 
Having a shower cubicle with tiled surround, pedestal wash hand basin, low level wC and extractor fan.

SUN TERRACE 
A decked South facing sun terrace is situated to the front of the flats.

AGENTS NOTE 
On the day of inspection we were unable to access Flat's 1, 2, 4 & 5 but are advised that they are all very similar to Flat 3.

LEASE TERMS 
The property is let by way of a 3 year FRI lease which was signed in 2013.

RATEABLE VALUE 
We are from enquiries to the Valuation Office Website that the 2010 rateable value is £10,750.

LOCAL AUTHORITY 
East Lindsey District Council Tedder Hall Manby Park Louth LN11 8UP Tel: 01507 601111

More information from this agent

Nearest station

  • Skegness (5.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Pygott & Crone, Boston

24 Wide Bargate Boston Lincolnshire, PE21 6RX

01205 626016 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Skegness (5.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Pygott & Crone, Boston

24 Wide Bargate Boston Lincolnshire, PE21 6RX

01205 626016 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference BOR110226. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Pygott & Crone, Boston. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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