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Free House / Licensed Restaurant

County Durham £69,950 Leasehold (fees apply) REF: NE1525

Location

The premises are located at the western end of Front Street and forms part of what we would consider to be the main leisure district of the town. Other bars and restaurants nearby include a Wetherspoon’s outlet.  Chester le Street is a busy market town approximately 12 miles due south of Newcastle upon Tyne and 7 miles due north of Durham.  The town has the benefit of a mainline railway station and access to the A1(M).

Business

The premises comprises a three story terraced unit which was acquired as a hair salon before change of use was sought in 2018.

The property underwent a full refurbishment totalling £195,000 prior to the business opening in late 2018 and daytime and early evening trade is driven by the food on offer, which comprises a broad choice to suit most tastes.

After circa 9pm the wet trade dominates and from Thursday onwards this side of the business is extremely busy, trading till 1.30am on Fridays and Saturdays. The property is configured to provide a large ground floor bar area with kitchen and toilet facilities to the first floor. On the top floor there is an office and storage space.

Whilst the business is currently open during the day, this element is not strongly promoted and it could trade as a morning coffee bar if new owners chose to do so.

Accommodation

Ground Floor

Main Bar Area circa 750 sq.ft. (69.7 sq.m.) seating, service bar area, music system, ice maker and CCTV system plus various plant and machinery.

Stores / Cellar 125 sq.ft.(11.6 sq.m.)

Disabled Toilet

First Floor

Kitchen circa 178 sq.ft. (16.5 sq.m.) and fully fitted and equipped with pizza ovens, extraction, griddles, fridge / freezers and chilled counters.

Gents Toilets 

Ladies Toilets

Second Floor

Office / Stores

Staff

The business is currently operated by our client with the help of 3 full time members of staff and 7 - 9 members of casual staff.

Tenure

The premises are available on a new lease at a commencing rent of £15,000 per annum with 3 yearly rent reviews.  The ingoing tenant will be responsible for the landlord’s legal costs in the preparation of the new lease.

Trading Hours (licensed to trade to 1.30am)

Sunday - Wednesday 11.30am - 10.30pm

Thursday 11.00am - 11.00pm

Friday - Saturday 11.00am - 1.30pm

Rates

The premises are assessed as follows: 

Rateable Value – £10,500 

Rates free incentives subject to status.

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.

If you'd like to know more about how we work, give us a call on 0191 487 8566, we're always happy to help.

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