LN4 High Street, Washingborough, Lincoln

Freehold public house investment for sale let until June 2042 at a current rent of £69,831 per annum

The property comprises the ground and first floor of a two storey detached building with painted brick elevations beneath a pitched and hipped roof.

Ground Floor: The ground floor provides a public bar area, lounge with casual dining and dining room with a central bar servery and seating on loose tables, chairs and bench seating for 100 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.

First Floor: The first floor comprises private living accommodation of three bedrooms, kitchen, lounge and bathroom.

Externally: There is an enclosed customer area to the rear with seating on loose tables and chairs for 120 customers. There is no parking.

The property is held freehold (Title Number LL81475).

The entire property is let to Ever So Sensible Restaurants Limited on a 20 year lease from 1 June 2022 at a current rent of £69,831 per annum, which is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and a cap of 4% (except in the open market review year). A rent deposit of £34,219 is held by the landlord.

The property is Grade II Listed and is situated within Washingborough Conservation Area.

It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.

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We are instructed to invite offers in excess of £875,000 (7.56% NIY) assuming the usual purchasers costs.

The fixtures and fittings are currently owned by the occupational tenant.

Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.

All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.

For further information and all viewing requests please contact the sole selling agents Savills.

If you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing: https://sites.savills.com/stonegateportfolio

Located in the village of Washingborough in the county of Lincolnshire, 3.7 miles (5.9 kilometres) east of Lincoln and 43.9 miles (70.2 kilometres) north east of Nottingham.

The Ferry Boat is situated fronting the High Street within a predominantly residential area. Nearby occupiers include the Hunters Leap (Stonegate), the Washingborough Hall Hotel and Pizza Place.

Freehold public house investment

Entire property let to Ever So Sensible Restaurants Limited who operate 10 pubs

Property arranged over two levels: ground and first floors

Current rent of £69,831 per annum

The rent is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 4% (except in the open market review year)

We are instructed to invite offers in excess of £875,000 (7.56% NIY)

Site extending to 0.54 acres

Lease expires June 2042

Business unaffected by sale