23 April 2025: Wednesday 23 April 2025 - 9:00am
Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • High Yielding Pub Investment
    • Let to Stonegate Pub Company
    • Lease Expires 30/03/2035 - 10 Years Unexpired
    • Outstanding Rent Review from 2020
    • 7,481 sq ft (694.98 sq m)
    • High Footfall Pedestrianised Pitch
    • Rear Garden with Access to Public Car Park
    • Eight Week Completion Available
    • Investment Let at £57,000 p.a. (14.25% GIY on Guide Price)

    Description

    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).

    Additional information

    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

    £57,000 per annum
      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Legal documents

      Login to view legal documents

      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums