Online Auction

The Barge Brayford Wharf North, Lincoln, Lincolnshire, LN1 1YW

  • For sale a fully fitted licenced restaurant of about 1,608 sq ft (149.34 sq m) - about 170 covers
  • Located in prime pitch in Lincoln city centre opposite One The Brayford
  • The sale will include the barge, associated goodwill and all fixtures and fittings

Viewings

BLOCK VIEWING 11AM SATURDAY 9TH JUNE

Details

Location

Summary: The property is located on Brayford Wharf North, the prime leisure pitch within the City of Lincoln near One The Brayford
Miles: Doncaster 37 miles, Sheffield 48 miles, Nottingham 39 miles
Roads: A15, B1262, B1188, B1273
Rail: Lincoln
Nearby Occupiers: Wagamama, Prezzo, Costa, University of Lincoln, Nando's

Description

A large barge that has been fully fitted out as a bar/restaurant, that occupies a prominent location within Lincoln's leisure circuit. Brayford Harbour is the oldest inland harbour in England, dating from pre-Roman times. Once a thriving port, the Brayford area is now one of the most vibrant and exciting parts of Lincoln, boasting a 21st Century university campus, stylish restaurants and internationally renowned hotels. The accommodation is laid out over 2 levels extending to about 1,605 sq ft (149.34 sq m), for about 176 covers with extensive outside seating areas. The sale will include all fixtures and fittings (see legal pack).

Tenure

The boat is owned by the current operator who has a 3 year mooring lease (see legal pack) from the Brayford Trust at £10,508 per annum. The current owner has run the business for about 20 years and has been informed by the Brayford Trust that they would consider a longer lease term (see legal pack)

Planning

City of Lincoln Council (01522873474) www.lincoln.gov.uk. The current use is within Class A4 (drinking establishment) of the Town and Country Use Classes Order 1987 (as amended), which permits uses within Class A3. The current owners also have a full Licence to sell alcohol and operate until 1.30 am

Bidder Registration

In order to bid you will be required to provide proof of identification, proof of address and source of funds before being authorised to bid.

We will also take a hold on funds from your debit or credit card of £5,000 before you can bid.

Please see our Online Bidding and Registration Guide for further information, but note that as soon as you enter your debit or credit card, the hold on funds will be taken and this amount on your card will be "reserved" for this potential transaction and the amount will be deducted from the balance of your bank account.

We recommend you enter your debit or credit card from 7 days before the auction date, to avoid the £5,000 payment being processed and the funds being "reserved" and held by our Sagepay provider unnecessarily.

It is the bidder's responsibility to ensure that they have adequate funds in their bank account so that the initial hold on funds can be taken and reserved by our Company (or agent) so that this does not impact on their immediate banking responsibilities. Lambert Smith Hampton (LSH) or our agent will not be held responsible for any banking fees that may arise from any party once a hold on funds has taken place. Please contact the auction team for further information if required.

Registration for bidding will close at 5:00 pm on 12 June 2018, after which we cannot guarantee giving you permission to bid at the auction.

Glossary

A Glossary of some common auction terms and an explanation around them to assist you with your purchase can be found here.

VAT

Refer to the legal documentation

Energy Performance Certificate

See website

Address Accommodation Sq M Sq Ft
The Barge, Brayford Wharf North Two levels (about 176 covers) 149.34 1,608
Measurements provided by the vendor

Seller's solicitor

Chattertons Solicitors Melissa Thompson
01522 551163
melissa.thompson@chattertons.com

*Reserve Not to exceed

The reserve is the minimum amount the seller will currently accept. This figure does not represent a valuation nor does it reflect the likely sale price. It is subject to change, upwards or downwards.

Administration Fee

The successful purchaser will be required to pay the auctioneers administration fee of £990 inclusive of VAT. Other additional costs/fees may apply - Click here.

Sold for £192,000

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Reserve not to exceed*
£130,000

The successful purchaser will be required to pay the auctioneers administration fee of £990 inclusive of VAT. Other additional costs/fees may apply - Click here.


Agreement Documents