The property occupies a prominent location on the northern side of Brayford Pool with a fully glazed frontage to Brayford Wharf North.
The unit is partially fitted out for restaurant use and extends to about 380.62 sq m (4,097 sq ft) on a single level.
The former occupier utilised part of the street immediately outside the front of the unit for outside seating, by way of a licence from the City of Lincoln Council and this option should be available to other future occupiers.
The property is situated on Brayford Wharf North, the prime leisure pitch within the city of Lincoln. Nearby operators include Nando’s, Prezzo, Wagamama, Double Tree by Hilton, Marco Pierre White Steakhouse Bar & Grill , Harvester, Starbuck’s, ASK, Zizzi’s and a 9 screen Odeon cinema.
Lincoln is a Cathedral city and 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 and 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 Brayford Pool, with over 14,000 students and staff in situ, contributing an estimated £250m in to the local economy.
TOWN AND COUNTRY PLANNING
The use of the property is a restaurant falling in Class A3 of the Town & Country Use Classes Order 1987 (as amended).
In our view the property would also have suitability for use as a bar falling within Class A4 (Drinking Establishment), subject to the receipt of Planning Permission.
The property is not listed but is situated within a Conservation Area.
The property is available by way of a new lease drawn on the equivalent of Full Repairing and Insuring terms, via a service charge, for a term 15 years, subject to 5 yearly upward only rent reviews.
£90,000 per annum exclusive payable quarterly in advance
VAT may be charged in addition to the rent at the prevailing rate.
The ingoing tenant will be responsible for the landlord’s reasonable legal costs incurred in documenting the transaction.