Location
The business opportunity is in an extremely sought after and prime location, in the heart of the main leisure strip of North Terrace. Seaham lies 5 miles from Sunderland, 15 miles from Durham and 19 miles from Newcastle.
Seaham is a lively harbour town on Durham's Heritage Coast which hosts events throughout the year that include Military themed shows, an annual Summer Carnival and a Summer Food Festival with appearances from celebrity chefs. The town enjoys an extremely high footfall during the summer months and in the winter the weekends are particularly busy. Local tourism initiatives drive people to this part of the region and North Terrace continues to attract investment with new opportunities still opening.
Business
The business has been trading from the location since 2019 and has been trading as The Armoury since 2022. The opportunity has been placed on the market as the current owner wishes to reduce their commitments.
The premises are configured to provide dining, service and kitchen areas on the ground floor and there is room for around 50 internal covers. The current menu offers breakfast, lunch and evening meals with private parties and small events also catered for. Prior to Christmas the business offered an extremely popular Thai food offer in the evenings and this could easily be relaunched with the required equipment all still on site. A delivery service has been trialled and was well supported by the local residents before stopping before Christmas.
The premises are licensed to trade late and new owners could adapt the menu to suit their own business model. Viewing is recommended to appreciate the location and scope the site offers.
Premises
Comprises part of a three-storey terraced property;
Ground Floor (circa 800 sq.ft.)
Front Dining Area
Rear Dining Area
Snug
Bar with cellar space
Kitchen
Prep Room
2x W.C’s
First Floor (circa 150 sq.ft.)
Office
Current Trading Hours (licensed till 11.30pm)
Winter Summer
Mon - Thurs 9.30am - 4.00pm (8am – 7pm)
Fri & Sat 9.00am - 5.00pm (8am – 11.30pm)
Sunday 9.00am - 4.00pm (8am – 7pm)
Staff
Operated under management by our client with 1 full time member of staff plus part time bank staff.
Business Rates
The premises are assessed as follows:
Rateable Value £8,200
Rates incentives available subject to status.
Tenure
The premises are held on a 10 year lease from 2023 at a current rent of £19,800 per annum plus VAT. There are break clauses and rent reviews every 5th year. Further details on request.
EPC
Rating C.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.
