New ‘free of tie’ lease available of prominent & popular public house in the large village of Pinchbeck

Key Points
Prominent two-storey detached building
2 sizeable bar areas
Well equipped commercial trade kitchen
1st floor function room (c.60-80 covers)
Private accommodation
Dedicated parking for c.30 vehicles
New ‘Free of Tie’ lease available

Property
The Bull Inn is a 2-storey detached building accessed via a central lobby entrance. The ground floor trading space provides 2 bar areas: the right offers a bar area with space for c 35 covers with a mix of loose and fixed seating; the left-hand side a bar with feature bulls horn bar.

To the rear are male and female WC’s, commercial trade kitchen (partially fitted) and wash up area.

The cellar is located at lower ground floor level.

The first floor provides a substantial function room with space for 60-80 covers with separate dual access to the ground floor and dedicated bar servery.

In addition, there is private accommodation comprising 2 double bedrooms, lounge, showroom, separate WC and bathroom.

Externally there are 2 parking areas, either side of the property with space for deliveries, staff and customer parking for c 30 cars.

Measurements
The area of the site is 0.5 acres and the ground floor footprint (GEA) of the public house, excluding the detached outbuilding, extends to 224m² (2,413ft2 ).

Measurements are taken from digital mapping and are approximate.

Planning
The local authority is South Holland District Council.

The property is not listed but does fall within a conservation area.

Tenure
The property is available by way of a new, 20-year ‘free of tie’ lease with an initial rent of £27,500 per annum, exclusive of VAT. There is no premium payable for the benefit of the new lease. The new lease will be on a Full Repairing and Insuring basis with Annual RPI increases (min 2.5% / max 5%) and 5th year open market rent reviews.

Ingoing rental incentives may be offered, subject to the tenant’s assessed covenant strength and overall business plan.

Applicants must have sufficient capital available to cover 3 months’ rent, along with building insurance, standard £1,500 legal fees contribution and working capital. Proof of funding and a business plan will be required, along with a deposit equivalent to 6 months rent + VAT.

Premium
Nil Premium.

Fixtures & Fittings
The Fixtures & Fittings that remain on the premises at the time of completion will be included in the letting at nil cost but no warranty can be provided by the landlord. An inventory will not be provided.

The Business
The business is currently closed and provides a fresh opportunity for a bar, pub or restaurant operator to take on a free of tie lease.

Rates & Charges
The rateable value of the property is £19,500 as at 1st April 2023.

Council Tax – £1,357 p/a (Band A)