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Under offer

Grill House

Newcastle City Centre £17,500 Leasehold (fees apply) REF: NE1477

Business:

This business was acquired and rebranded by our client approximately 12 months ago but has now been placed reluctantly on the market as the current owner has a new work commitment pending. 

The shop is located on Alley 1 just off Grainger Street in the heart of the City Centre and forms part of the Grainger Market.  The Grainger Market was built in 1835 and is the City’s largest traditional market and is situated in an elegant, classically styled building close to The Monument. This undercover market was the largest in Europe when it was first built and is home to over 100 traders, ranging from small independents to large multiples.

The business offers a range of food options but these are based predominantly on meats and is best known for its’ grilled products and, in particular, the burgers.  The business benefits from a 5 Star Food Hygiene Rating and over the last 12 months the customer base has developed, receiving excellent customer feedback ratings on Just Eat and various social media pages so far to date.  The additional seating area means that customers have the option to eat in as well as “grab and go”. Footfall within the arcade has benefitted from the improvements in Eldon Square which can now be accessed via the Grainger Market and this has created an extra flow of potential customers.

This business can be operated single handed with part time staff but may trade better as a partnership.  Viewing is recommended to appreciate the corner site location and the potential.

Premises:

Ground Floor: circa 32.35 sq.m. (348 sq.ft.)

Retail Sales Area fully fitted and equipped for the trade including display cabinets, hot plates, griddles and all associated plant.

Seating Area with circa 12 covers in booths.

Staff:

Currently operated under management with 1 full time manager plus 2 other part time members of staff.

Trading Hours:

Monday – Saturday       9.30 am – 5.30 pm

Sunday                                  Closed

Financial Information:

Will be made available to interested parties.

Tenure:

We are verbally informed that the units are held on a Newcastle City Council lease with a passing rent of £15,200 per annum.  The seating area could be released if not required and the rent for the retail element alone would be circa £8,200 per annum.  

Fixtures & Fittings:

A full inventory will be disclosed at a formal viewing appointment.

Rates:

The premises are assessed as follows: 

RATEABLE VALUE                   £10,500

Rates incentives subject to status

EPC:

Not applicable.

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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