The former Slug & Lettuce on Stamford New Road has been sold in a deal worth £915,000.
The building was sold by Cream Investments to Buzz Communications.
The freehold of the 8,000 sq ft four-storey building was sold with vacant possession and there’s no indication yet as to what the premises will be used for.
Daniel Lee, director, Regional Property Solutions, who acted for the vendor Cream Investments, said: “Slug & Lettuce leased the whole building but only occupied the ground and basement floor with the access to the floors above disabled as these were not considered viable business space.”
He added: “A considerable number of commercial properties in the town centre have been sold in the last few years for conversion of the upper floors to residential. Those already completed have proved popular and sold well which certainly augurs well for the potential of this investment.”
Slug & Lettuce, which had been a fixture in the town since 2001, closed down in September.
Buzz Communications was unrepresented.