196-202 Drummond Road, Skegness, Lincolnshire, PE25

An excellent and rare opportunity to acquire this large detached building with a highly successful restaurant and bar on the ground floor and 6 apartments at ground and first floor all producing an excellent income. The site also has planning for a pair of semi detached houses.

The links Bar & Kitchen is a vibrant dining destination offering a blend of modern cuisine with traditional favourites. The property has been completely stripped back and refurbished inside during the last two years. The two bars have been rebuilt with rewiring, plumbing and plastering throughout. The property has been sound proofed and decorated to a high specification. The Links has a large local clientele in this residential area and a fantastic tourism trade throughout the season.

Location

The property is situated in a mainly residential area approximately 1 mile from the town centre and less than a few hundred yards from the sea and beach. The property is with a few hundred yards of the famous Seacroft Golf Club which was established in 1895. Its a traditional championship links course of the coast and is known as the hidden gem among the top courses of Great Britain & Ireland. The property is also within a mile of the famous Gibraltar Point nature reserve. The town is a popular retail centre and seaside resort serving an extensive catchment population which increases substantially due to staycations. The principal access routes to the town are by the A52 from Boston which is located approximately 22 miles to the south west and the A158 to Lincoln which is approximately 43 miles to the west. The town is also served by a railway station with access to Nottingham.

ACCOMMODATION

The property is essentially split into 2 elements. The commercial Bar & Restaurant and and the residential flat and building plots.The residential flats with 1 x 2 bed on the ground floor and 2 x 3 bed and 3 x 2 bed flats on the first and second floor. The remaining ground floor is taken up by the commercial areas including the Bar & Restaurant.Ground floor 5095 sqft (473.3 sqm) Including. Entrance Hall, Reception bar, Large Restaurant , Main bar, customer WCs. Kitchen , various stores, preparation areas, Kitchen, Stores and office and fridge/freezer room with flat as referenced above. First Floor 3575 sqft (332.1 sqm) and comprising 3 x 2 bedroom apartments and 2 x 3 bed apartments (one of the 3 bedroom apartments has an ensuite bedroom on the second floor)Second floor 244 sqft (22.6 sqm) There is extensive sound proofing for the flats from the ground floor which has a higher rating than Part E of the current building regulations.Outbuilding 22 sqft (2 sqm)Total 8936 s

PLANNING

The property has an established use as a bar and restaurant with residential accommodation on ground, first and second floor. The property also has planning permission for a pair of 3 bedroom 3 storey semi detached houses on the front elevation of Drummond Road. The permission is in perpetuity and has full building regulation approval.

SERVICES

All mains services are connected to the property. The Bar & Restaurant has had an updated 3 phase electricity supply installed. There is a new CCTV camera system throughout the pub. A new addressable fire alarm and burglar alarm system have also been installed. There is a newly refurbished and functioning open fire in the restaurant and a log burner in the bar area. All the flats have a separate water and electricity supplies which are also metered separately.

TENURE

The property is offered on 3 options The purchase the commercial, lease and business which includes the restaurant, bar, kitchens including all fixtures and fittings and goodwill of The Links with an attractive lease term at a price of £175,000To purchase the whole building, business, including 6 flats and rental income, the car park and development land at £1,275,000.To purchase the freehold as an income producing investment, including the 6 flats and rental income, the business rental income, the car park and development land for £1,100,000.

RATEABLE VALUE

The Bar/Restaurant has a rateable value of £17,500. Each of the apartments has a council tax band of A.

CEPC

The property has an EPC of B41 for the restaurant.The apartments all have EPCS 1- 5 are E and 6 is a D.

LEGAL COSTS

Each party are responsible for their own legal costs

VAT

The price is exclusive of VAT if applicable

LOCAL AUTHORITY

East Lindsey District Council The HubMareham RoadHorncastle LincolnshireLN9 6PH Tel

VIEWINGS

Contact Pygott & Crone Commercial 36a Silver Street Lincoln LN2 1EW Tel