A unique opportunity to acquire a fully fitted bar/restaurant within a former Barge, occupying a prominent location within Lincoln’s leisure circuit.
The accommodation is laid out over 2 levels extending to about 149.34 sq m (1,605 sq ft), licenced for 176 covers and extensive outside seating areas.
The property is located on Brayford Wharf North, the prime leisure pitch within the City of Lincoln. Nearby operators include Nando’s, Prezzo, Wagamama, DoubleTree by Hilton Hotel and Marco Pierre White Steakhouse Bar & Grill as well as the new One The Brayford development.
Lincoln is a Cathedral city and is the administrative and shopping centre for the county of Lincolnshire. It has a resident population of circa 100,000 and a catchment within a 20-mile radius of 300,000. It is ranked 4th in the Experian East Midlands retail rankings behind Nottingham, Derby and Leicester. It is a university city with the main campus on the opposite side of the Brayfood Pool with over 14,000 students and staff in-situ, contributing an estimated £250 million into the local economy.
TOWN AND COUNTRY PLANNING
The use of the property was as a bar falling within Class A4 (Drinking Establishment) of the Town and Country Use Classes Order 1987 (as amended).
Alternative uses falling within Class A3 are permitted without the need to obtain planning permission.
TENURE AND LICENCING
The boat is owned by the current operator who has run the business for the past 20 years.
In turn, the Brayford Trust have granted 3 year lease at a passing rent of £10,508 per annum exclusive, to the Barge owner.
Further discussions with the Brayford Trust have confirmed that an extension of the lease will be considered favourably.
The property benefits from a full on licence until 1.30 am.
The ingoing tenant will be responsible for the Vendor’s reasonable legal costs incurred in documenting the Assignment of the lease.