Pub for sale

The Strait And Narrow, 29-31 The Strait, Lincoln, LN2 1JD

01664 518223

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Pub

0 bed

0 bath

3,000 sq ft / 279 sq m

Property description & features

Tenure: Freehold
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

We are offering this investment opportunity for sale with an existing tenant in place. 29-31 The Strait is located on the pedestrianised street at the base of the national landmark known as 'Steep Hill' in Lincoln. The building is brick built with large glass frontage.

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.

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.

Strictly by prior appointment via the sole agents P&F Commercial [use Contact Agent Button] or via [use Contact Agent Button]

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.

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Places of interest

P & F Commercial - Oakham

18 Midland Co, Station Approach Oakham, Rutland LE15 6RA

01664 518223

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P&F Commercial is a well-established Commercial Estate Agency business operating across the EastMidlands. Centrally located in Rutland, with the major Cities of Leicester, Nottingham, Peterboroughand Northampton all within 40 miles, P&F Commercial are perfectly located to handle all types ofCommercial property including Shops, Offices, Industrial Units, Post Offices and any other generalInvestment/property businesses. With over 40 years combined experience in the property business, P&F Commercial has a wealth ofspecific knowledge in the sector. P&F Commercial do not just deal in vacant property but can assistbuyers and sellers in the transfer of operating businesses and are perfectly placed to assist start up’sand SME’s in the acquisition, lease or sale of the premises essential to making the enterprise asuccess. We understand that buying, selling or leasing property can be a stressful time and we are more thanhappy to handle the transaction discreetly with or without formal open market promotion and wecan arrange meetings and viewings outside office or working hours as necessary. We can handle any property from the lease of the smallest shop or office unit to multi-million poundfreeholds and we take pride in the way we can market our client’s properties using selected InternetPortals, our own website at www.pandfcommercial.com and our extensive database. We are always happy have an open chat about the services we can offer so please give us a call to discuss your requirements.

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