Location
This business opportunity is located at the end of a residential terrace at the northern end of Chillingham Road. Chillingham Road is the principal road running in the popular residential area of Heaton to the east of Newcastle. Other commercial occupiers on this street include Tesco Express, Sainsburys, Greggs the Bakers, Domino and Subway. In addition to the high levels of captive trade from nearby shoppers and local residents, there is nearby street parking for visiting customers.
Business Opportunity
A restaurant has been trading from this site for many years, originally as an Indian restaurant before then opening as an Italian in 2022. The opportunity has been reluctantly placed on the market for personal reasons.
The premises are configured to provide a main dining area that can seat up to 70 and there is also a separate bar and waiting area with high tables and stools. Externally there is a patio space which offers outdoor eating options when the weather permits.
The site would lend itself to a variety of cuisines but the kitchen is currently fitted with equipment that includes pizza ovens and a charcoal grill. Whilst the site is more associated with traditional restaurant use, there would be scope for new owners to incorporate a breakfast or brunch menu which is likely to be popular in this location.
Viewing is strongly recommended to appreciate the location and scope that this opportunity offers.
Premises
Comprise a ground floor self-contained unit with return frontage and forming part of larger property.
Ground Floor
Bar & Waiting Area circa 260 sq.ft. (24 sq.m.) with a fitted bar and tables and chairs for up to 10 persons.
Restaurant circa 720 sq.ft. (67 sq.m.) with tables, chairs and fixed seating for up to 70 covers.
Kitchen circa 290 sq.ft. (27 sq.m.) and fully fitted and equipped for the trade.
Toilets separate ladies and gents.
External
Seating Area for up to 12 covers.
Current Trading Hours
Monday - Wednesday closed
Thursday - Saturday 12.30pm - 11.00pm
Sunday 5.00pm - 11.00pm
Fixtures & Fittings
An inventory will be made available to bona fide purchasers prior to any exchange of contracts.
Rates
The premises are assessed as follows:
Rateable Value £10,750
Rates free incentives available subject to status.
Tenure
The premises are held on a 15 year lease from 2023 at a passing rent of £26,000 per annum (£500 per week). Further details available on application.
EPC
Rating – B.
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.
