LINCOLNSHIRE COAST – MULTI FACETED SEASIDE CAFE

  • Freehold Price: £350,000
  • Leasehold Price: £55,000
Lincolnshire, England
Seller Ref:89875
For Sale

LINCOLNSHIRE COAST – MULTI FACETED SEASIDE CAFE

Lincolnshire, England
Seller Ref:89875
  • Freehold Price: £350,000
  • Leasehold Price: £55,000

Overview

Seller Ref: 89875

Description

Upmarket seaside resort – close to beachfront
Café – Art Gallery – Deli – Gift Shop – Ice Cream Parlour
4 double bedroom owners accommodation
Car park, garage & decked front trade patio
Fully fitted commercial kitchen & open plan trade area
Profitable business – net turnover approx. £180,000
Freehold or free of tie Lease – Rent £22,000 per annum

Leasehold Terms:
FREEHOLD Asking Price £350,000 or; LEASEHOLD Premium £55,000. To include fixtures, fittings and goodwill. Stock at valuation in addition. The Landlord will consider the creation of a new lease agreement on the following terms: TERM: New 7 year lease (term negotiable) LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954 ASSIGNABILITY: Fully assignable RENT: Annual rent £22,000, paid monthly in advance RENT REVIEW: Dependent upon agreed term REPAIR LIABILITY: Full repairing and insuring lease agreement TIE: Free of all trade ties INSURANCE: The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent DEPOSIT: Equivalent to 3 months' rent All negotiation subject to covenant strength. An incoming party will be required to demonstrate sufficient funds to sustain their business model, and will need to demonstrate ingoing capital to cover the premium, rental deposits, stock and working capital as a minimum. Solar panel payments to be kept by the freeholders, with the lessee befitting from the discounted utility costs. VAT will not be payable on the agreed sale price, premium or rental payments. No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
Number of Bedrooms:
4
Location Details:
The Fat Seagull, Sea Lane, Sandilands, Sutton-on-Sea, Lincolnshire, LN12 2RQ
Is this business relocatable:
No
Is this business home based:
No
Is accommodation included:
Yes
Is this In administrative/receivership:
No
Is stock included:
NA
Website address:
https://www.sidneyphillips.co.uk/business-detail/89875

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