Location
The premises form part of an imposing four storey property located within Ellison Place, adjacent to Northumbria University.
Ellison Place is within approximately 0.5 mile of the City centre shops and offices and access is straightforward via Saville Place and Ellison Tce. There are extremely high levels of captive trade from the University and there is also potential trade available from shoppers and office workers due to the proximity of the City centre.
Business Opportunity
These premises were refurbished throughout in 2017 and configured to provide a restaurant and dining area for circa 30 covers with a good-sized kitchen and prep area to the rear.
Whilst the unit most recently operated as a noodle bar, the space would be suitable for a variety of cuisines or other food uses. The lease permits all uses within former Planning Class A3.
The kitchen is spacious and the equipment in the dining area and kitchen space will be available as part of the purchase, subject to agreement.
Premises
Self-contained lower ground floor space;
Lower Ground Floor
Restaurant/Cafe Area circa 500 sq.ft. (46 sq.m.)
Toilet
Kitchen Area circa 280 sq.ft. (26 sq.m.)
External
Patio Area to front with seating.
Rear Car Parking for 1 car.
EPC
Rating - E.
Permitted Trading Hours
Monday - Saturday 7am - 9pm
Services
Gas, water, electric and sewerage is installed.
Rates
The premises are assessed as follows:
Rateable Value £22,750
Tenure
We are verbally informed that the premises are held on a lease for a term of 10 years from 1st May 2018 at a current rent of £27,500 per annum. Rent review at the 5th anniversary.
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.
