For SaleWell established restaurant business

Ribs 'n' Bibs, 8-9, The Strait, Lincoln, LN2 1JD

Description

The property comprises a mid-terrace Grade II Listed building of considerable character laid out over 2 floors, to provide ground and first floor seating areas, kitchen and staff areas as well as an outside seating area.

The property will be acquired fully fitted as per the existing layout – to include the kitchen, cold store and all of the other equipment currently within the property. A full inventory is available on request.

Location

The property is situated in a prominent location at the southern end of The Strait close to start of the High Street and a short walk south of the historic Uphill area of the City. 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 shoppers and tourists due to the proximity of the Cathedral and Castle, and also the prime shopping areas on the High Street.
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.

Tenure

The property is available by way of the assignment of a lease expiring in March 2020. The lease is drawn on Full Repairing and Insuring terms. The current rent payable under the lease is £15,750 per annum exclusive of VAT and business rates, payable quarterly in advance. The freehold may also be available, by way of separate negotiation with the Landlord.

Price

Offers are invited in excess of £100,000 for the business goodwill, fixtures and fittings and leasehold interest. A full inventory of the fixtures and fittings to be included in the sale is also available upon request.

Viewing

Strictly by appointment through the sole agents.

legal costs

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.