Location
The business is located just to the east of the town centre and on a busy junction with Pelaw Bank and Newcastle Road. The immediate area is a mix of commercial and residential property.
Business
Memories of India is a very well established and reputable Indian Restaurant which has operated from this site since 1991. The business is being placed on the market as the owner is retiring.
The business operates collection, delivery and full restaurant services and prior to “lockdown”, the deliveries and collections made up around 65% of the weekly sales. Clearly this has changed over the last 12 months and takings have increased significantly in relation to the deliveries but our client anticipates that the restaurant trade will slowly increase as restrictions ease and people return to the town centres in the evenings.
The Restaurant is close to both the main shopping and leisure district so it is ideally located to take advantage when restrictions ease.
Premises
Comprises a semi-detached 2 storey property of traditional brick construction with slate roof over.
Ground Floor
Takeaway Area circa 200 sq.ft. (18 sq.m.)
Bar Area circa 232 sq.ft. (21 sq.m.)
Restaurant circa 600 sq.ft. (55 sq.m.)
Kitchen circa 200 sq.ft. (18 sq.m.)
Stores circa 240 sq.ft. (22 sq.m.)
Ladies Toilets
Gents Toilets
First Floor (possibly suitable for residential use).
3x Rooms
Bathroom
Services
Gas, water, electric and sewerage is installed.
Rates
The premises are assessed as follows:
Rateable Value £11,000
Rates subsidies available subject to status.
Tenure
The premises will be offered on a new FRI lease at a commencing rent of £20,000 per annum. Details on application.
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.
