Location:
This business opportunity is located in a prominent site on High Street adjacent to Lansdowne Terrace. The unit forms part of a busy parade and fronts the main road running from the A1 into Gosforth from the north.
Gosforth is an extremely popular suburb to the north of the City centre with excellent infrastructure, good quality housing and high levels of potential customers.
Business Opportunity:
This unit has been operating as part of a popular local Italian restaurant group for over 10 years but the owner now wishes to wind down some of his commitments.
The premises are in excellent order and were only refurbished in September 2024. The dining room is set up for around 40 covers with a small bar and service point to the rear. Access is via a spacious street level foyer and the building is on a prominent corner which can be easily seen from the roadside.
Whilst currently fitted and equipped for a predominantly Italian menu, the second floor kitchen is well equipped and could be adapted for other cuisines, should a new operator wish to do so.
This is a rare fitted and equipped restaurant opportunity in a sought-after residential suburb. Viewing is strongly recommended to fully appreciate the scope.
Premises:
Comprising the first and second floor of an end of terrace 3 storey unit forming part of a larger parade.
Ground Floor
Spacious Entrance Foyer
First Floor
Restaurant 475 sq.ft. (44 sq.m.)
Gents Toilets
Ladies Toilets
Second Floor
Kitchen 280 sq.ft. (26 sq.m.)
Current Trading Hours
Monday – Thursday closed
Friday & Saturday 12pm – 10pm
Sunday 12pm – 6pm
Business Rates
Rateable Value £8,100
Rates free incentives subject to status.
Lease
The premises are held on a 10 year lease with 4 years unexpired. The current rent is £12,000 per annum. Full details on application.
EPC
Rating – tbc.
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.
VIEWING STRICTLY BY APPOINTMENT
