Location
This opportunity comprises a three storey end terraced property which is located in the heart of the town centre.
Chester le Street lies approximately 10 miles south of Newcastle upon Tyne and 8 miles north of Durham City. Chester le Street is located at the Junction 63 of the A1(M) which in turn is easily accessed via the A167. Front Street is the main shopping street and is home to a mix of multiples and independents all served by ample parking.
Business
This opportunity comprises a long established business which has traded from this site for over 25 years. The property is in excellent order having benefitted from a full refit approximately 18 months ago which was completed to a high standard and is currently set out to provide takeaway, preparation and restaurant areas to the ground floor, a restaurant area to the first floor. The restaurant element can provide up to 75 covers and the first floor is served by a dumb waiter from the prep area.
The property has the benefit of A5 hot food takeaway consent and trades as a fully fitted and equipped fish & chip takeaway with restaurant facilities. The menu currently offers traditional English fish and chips with the takeaway element being slightly stronger than the sit in element. There is scope to offer later opening hours and potential to develop a delivery option if a new owner should wish to do so.
To the top floor there is a suite of offices which is an added benefit to the business and is also useful storage space. This is a rare to the market opportunity and would be ideal for both owner operators or for an existing chain to bolt on to their network. Viewing is strongly recommended to fully appreciate this rare to the market opportunity.
Property
Comprises a detached three storey property
Ground Floor (circa 72 sq.m.)
Retail Area
Stores
W.C.’s
First Floor (circa 96 sq.m.)
Restaurant
Second Floor (circa 52 sq.m.)
Office Suite
Financial Information
This will be provided to interested parties by our client once a formal viewing has taken place.
Trading Hours
Monday – Thursday 11.00 am – 7.30 pm
Friday – Saturday 11.00 am – 8.00 pm
Staff
The business is currently run under management with a staff cost of circa £85,000 per annum.
Services
Mains electricity, gas, water and sewerage services are connected to the property.
Rates
The property is assessed as follows:
Rateable Value £15,500
Tenure
Freehold. The asking price for the goodwill, fixtures, fittings and freehold interest is £325,000 plus stock.
EPC
Rating C.
