Investment for sale - Ferry Boat, High Street, Washingborough, Lincoln, LN4 1AZ

<strong>Description</strong><br>The property comprises the ground and first floor of a two storey detached building with painted brick elevations beneath a pitched and hipped roof.<br><br><strong>Accommodation</strong><br>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.<br /> <br /> First Floor: The first floor comprises private living accommodation of three bedrooms, kitchen, lounge and bathroom. <br /> <br /> Externally: There is an enclosed customer area to the rear with seating on loose tables and chairs for 120 customers. There is no parking.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number LL81475).<br><br><strong>Tenancy</strong><br>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 £72,6241 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.<br><br><strong>Planning</strong><br>The property is Grade II Listed and is situated within Washingborough Conservation Area.<br><br><strong>VAT</strong><br>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.<br><br><strong>EPC</strong><br>C-56<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £780,000 (8.83% NIY) assuming the usual purchasers costs.<br><br><strong>Fixtures & Fittings</strong><br>The fixtures and fittings are currently owned by the occupational tenant.<br><br><strong>Money Laundering</strong><br>Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.<br><br><strong>Viewings</strong><br>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.<br /> <br /> For further information and all viewing requests please contact the sole selling agents Savills.<br><br><strong>Similar Investment Opportunities</strong><br>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<br><br>