LOCATION Market Deeping lies approximately 8 miles north of Peterborough and 8 miles east of Stamford. The property is located on a prominent location on High Street with the site extending to the bank of the River Welland.
DESCRIPTION The property was previously known as the Iron Horse Ranch House trading as an American Diner providing drinks, catering and a music venue. The property has a prominent frontage onto the high street in Market Deeping. The ground floor accommodation includes the restaurant, kitchen, prep room, outside bar and male, female and accessible toilets. The property has a large rear yard where the previous tenant had a marquee set up and a large beer garden, there is also plenty of parking for staff/ use for the flats if desired.
On the first floor are two self-contained two-bedroom flats with access via an external steel staircase at the rear.
ACCOMMODATION The property has been measured in accordance with RICS code of measuring practice on a net internal area basis:
Ground Floor NIA- 272.8 sq m (2,936 sq ft)
First Floor NIA - 97.9 sq m (1054 sq ft)
Total NIA - 370.7 sq m (3990 sq ft)
Outdoor display / seating area 169.00 sq m (1,819 sq ft)
SERVICES We understand that mains electricity, gas water and drainage are connected. None of the heating systems or any other plant and equipment have been tested by Richardson and prospective purchasers / lessees must rely on their own investigations as to their existence and condition.
BUSINESS RATES/COUNCIL TAX From enquiries of the Valuation Office website, we understand that the following rating assessment applies:
Restaurant & premises £21,750
Each flat has a Council Tax Band A
Prospective lessees should make their own enquiries of South Kesteven District Council.
EPC Commercial Ground Floor - 28, B
Flat 1 - 64, D
Flat 2 - 63, D
LEGAL COSTS Each party to bear their own legal costs incurred in the transaction.
TERMS The property is available to purchase at a guide price of £495,500 subject to contract. Alternatively consideration will be given to leasing on a ten year lease to approved tenants and uses only. Prospective tenants will need to provide a business plan, proof of identity and satisfactory references.
CLAWBACK POSITION The vendor will retain a clawback provision for 21 years on 30% of the uplift in value of any development on the rear yard area.
VIEWING For an appointment to view or further information please contact -
Andrew Leech t:01780 758007 e:
[email protected]Katie Mulhern t. 01780 758005 e.
[email protected]
