Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a prominent and high yielding pub investment let to Stonegate Pub Company; the largest pub company in the UK.
Arranged across ground and first floors, the property is fully let to Stonegate Pub Company Limited, trading as The Canute. The lease is for a term of 30 years expiring 30/03/2035 and paying £57,000 per annum.
The property comprises seating and a bar area to the ground floor with kitchen and ancillary areas to the first floor. The property benefits from a rear garden which is accessed both through the pub and from The Ship car park to the rear (52 public spaces). The premises benefit from a late license to 2am on Friday and Saturday.
The property benefits from a prominent pitch, fronting the pedestrianised Silver Street, which is immediately south of the Market Place; the focal point of retail amenity in Gainsborough. Nearby occupiers include Boots, Superdrug and Olrids Department Store, with nearby pubs including the White Horse and Sweyn Forkbeard (JD Wetherspoons).
Tenure
Freehold
Tenancy
The property is entirely let to Stonegate Pub Company Limited by way of a 30 year lease expiring 30/03/2035 and producing £57,000 per annum. There are therefore approximately 10 years unexpired.
The lease includes five yearly upward only rent reviews with the property offering asset management potential via the outstanding rent review from 2020.
Rent