Location
This business is located within a busy secondary shopping area in the Coxlodge area of Newcastle. There is a good mix of tenants in the parade and there is free on street parking to the front.
Business
Shahe was established by our client in 1982 and has traded successfully for over 4 decades. The business has been placed on the market as our client wishes to retire due to ill health. The premises was originally opened as a restaurant with approximately 30 covers and whilst there is still trade from sit in diners, the majority of the sales are now generated from collections and deliveries.
The location provides a good mix of customers as it is in close proximity to a number of good quality residential areas. Delivery trade is well supported by the excellent road links and access is also good for diners with a free car park to the side.
This fully fitted restaurant and takeaway is very much a “turn key” opportunity with nothing for any new owner to attend to. The business has a loyal customer base and a viewing is recommended.
Premises
Comprises a single storey premises forming part of a larger parade.
Ground Floor
Restaurant 600 sq.ft. (56 sq.m.)
Kitchen 205 sq.ft. (19 sq.m.)
Gents Toilets
Ladies Toilets
EPC
Rating - B.
Trading Hours
Monday - Sunday 5.30pm - 11.30pm
Staff
Operated by our client with the help of up to 7 members of staff.
Rates
The premises are assessed as follows: Rateable Value £11,000
Rent free incentives subject to status.
Tenure
The premises will be offered on a new FRI lease at a commencing rental of £25,000 per annum. Full terms are to be agreed and the ingoing tenant will be responsible for the landlord's legal costs in the preparation of the new lease.
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.
