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Under OfferFor rent: £15,000.00 Per AnnumFor sale: £90,000.00

Multi Award Winning Tea Room, 18 Steep Hill, Lincoln LN2 1LT

Restaurant/Cafes, Other, Other Property Types & Opportunities , 559 Sq Ft
Property type: Restaurant/Cafes, Other, Other Property Types & Opportunities
Tenure: Assignment, Business for sale, To Let, Under Offer
Size: 559 Sq Ft
Price: £90,000.00
Rent: £15,000.00 Per Annum
Location: 18 Bunty's Tea Room, Steep Hill, Lincoln, LN2 1LT
A Multi Award Winning Leasehold Business For Sale, top 3 ranking on Trip Advisor, prominent location on Steep Hill, close to Cathedral and Castle, good range of popular local and well regarded retailers/operators nearby, held on a new 10 year lease, tenant friendly Internal Repairing terms, Lease For Sale

The property comprises a mid-terrace Grade II Listed building of considerable character laid out over 2 floors, to provide ground and first floor customer seating areas and staff areas on the remainder of the first floor.

The lease will be acquired fully fitted as per the existing layout – to include the kitchen and all of the other equipment currently within the property.

The property is situated within the heart of the historic uphill area of the City of Lincoln, on Steep Hill, close to both the Castle and Cathedral and a short walk south into the City Centre.

There are a wide range of high quality and long established shops and restaurants in the surrounding area.

This is a part of the City that attracts a mix of local shoppers and tourists due to the proximity of the Cathedral and Castle.

Lincoln is one of England’s finest Cathedral Cities and is the administrative and major shopping centre within the County of Lincolnshire. It has a population and catchment of 543,367 and an established total catchment spend of £984.50 million

The current use of the building is as a café falling within Class A3 (Restaurant and Café) of the Town & Country Planning Use Classes Order (1987) as amended.

The building is Grade II Listed and is also located within a Conservation Area.

An award winning Vintage Tea Room that was set up by the current owners in 2012. Since then it has established a reputation as a top quality Tea Room that is regularly ranked in the top 3 restaurants in the City on Trip Advisor.

Full accounts for the business are available once interested parties have inspected the property and met the owners.

The property is available by way of the Assignment of a new 10 year lease. The lease is drawn on Internal Repairing and Insuring terms and contains a tenant only option to break after 5 years, with 6 months’ notice.

The current rent payable under the lease is £15,000 per annum exclusive of VAT and business rates, payable quarterly in advance.

£90,000 for the business goodwill, fixtures and fittings and the leasehold interest.

A full inventory of the fixtures and fittings to be included in the sale is also available on request.

VAT is not payable on the rent but will be on the purchase price at the prevailing rate.

Each party will pay their own costs in connection with the sale of the business.

The purchaser will be required to pay the Landlord’s costs in documenting the Assignment of the lease.

To view the premises and for any additional information please contact the sole agents
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