Location
This business opportunity is situated within the main shopping centre which is in the heart of this pleasant residential town to the North East of Newcastle.
Ponteland is one of the most popular suburban towns in and around Newcastle with easy access via the A696. The parade has its own car park and this is clearly a major asset for any business in this location.
Business Opportunity
The current business opened in 2020 but please note that the trading name is not included in the transfer. The site quickly established a strong customer base who remained loyal throughout the ups and downs of the various lock down periods. The restaurant menu is currently Thai food but there is also a broad selection of hot and cold drinks and sandwiches available plus cakes and new owners could take the business in a different direction should they wish.
During lockdown the business provided a very popular collection service which is still extremely busy on a Friday and Saturday evening. Whilst there is sit in restaurant custom, the current owners do not push this element and there is scope to open later. Plans were prepared to install upgraded extraction in the kitchen should a new owner wish to develop the evening trade.
The premises are in excellent order and are currently configured with a large prep and service counter for the daytime trade with seating for up to 20 covers against the wall. There is pavement seating and this outside space is extremely popular when the weather permits.
Viewing is strongly recommended to fully appreciate the location, layout and potential of this rare opportunity.
Premises
Comprises a single storey unit. Accommodation;
Ground Floor 68m2 (730ft2)
Service / Dining Area
Kitchen
Toilet
Current Trading Hours
Sunday – Monday closed
Tuesday – Wednesday 9am – 5pm
Thursday 9am – 6pm
Friday – Saturday 9am – 7.15pm
Staff
The business is to be sold free of staff.
Fixtures & Fittings
A full inventory would be made available prior to an exchange of contracts.
Rates
The premises are assessed as follows:
Rateable Value £12,750
Rates incentives subject to status.
Tenure
The premises are held on a 5 year FRI lease from 2020. The current rent is £12,500 plus VAT per annum paid monthly in advance. A 3 month rent bond will be required by any new tenant.
EPC
Rating D.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
