Lincolnshire Poacher, Double Street, Spalding, Lincolnshire, PE11

Investment Consideration:
Gross Initial Yield: 6.77%
Rental Income: £25,740 p.a.
VAT is applicable to this property
Let until March 2031. No breaks. Rent review in 2027 and 2030.
Comprises large public house with outdoor garden and 7 staff/letting bedrooms
Situated in the heart of the town centre with occupiers nearby including

Property Description:
Comprises large public house with 7-bedrooms, suitable for letting rooms or staff accommodation, providing the following accommodation and dimensions:
Ground Floor: Open plan bar & restaurant, commercial kitchen, games area, large patio at rear for c.20 covers, customer wc`s
First Floor: 7-bedroom staff or letting accommodation, kitchen, bathroom
Total GIA: 665 sq m (7,158 sq ft)

Tenancy:
The property is at present let to HIR Foods Ltd (with personal guarantee) for a term of 6 Years and 11 Months from 1st May 2024 at a current rent of £25,740 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.05.27 and 01.05.30 open market upward only. No breaks. Lease within Landlord & Tenant Act 1954. Deposit held of £5,500.

Location:
Spalding is a market town on the River Welland in the South Holland district of Lincolnshire, England. Spalding railway station is situated on the Lincoln Central - Peterborough railway line, operated by East Midlands Railway. The service provide convenient access to Peterborough for employment and shopping. The property is located across the way from the River Welland and close to local amenities and parks.