Location
The business and property is situated at the southern end of Front Street in a mixed commercial and residential area, close to the cricket club. Chester le Street is a popular market town located between Newcastle and Durham with excellent road links via the A1(M) and A167.
Business
This is an extremely successful and established restaurant and bar which has been operating from the site for the last 19 years. The business has been placed on the market as our clients wish to retire.
The premises are in excellent order and the public areas were refurbished in October 2019. Laid out over two floors, the ground floor is configured to provide two separate spaces with a public bar area on the left as you enter and then seating and booths on the right which are designated to diners. On the first floor, with access through the main restaurant, there is another restaurant space which can accommodate up to 60 persons and is ideal for private functions or Sunday lunches. The premises accommodate up to 150 people with a mixture of standing and sitting.
The current menu provides a broad range of meals that include burgers, pizza, pasta and steaks. There are some specials and lunch time offers but there is no breakfast or morning coffee offering at the moment and this is something new owners could consider. The restaurant has an excellent local reputation with loyal regulars and high levels of repeat business with approximately 65% of the trade coming from food and the remainder being wet sales. The business trades on relatively short hours by choice and there is huge scope for a new owner to take this business forward.
Viewing is strongly recommended to fully appreciate the location, fit out and potential of this opportunity.
Premises
Comprises part of an extensive two storey terrace.
Ground Floor
Restaurant / Bar 76m2 820ft2
Kitchen 24m2 320ft2
Ladies Toilets
Gents Toilets
Plant Room
First Floor
Restaurant 66m2 700ft2
Ladies Toilets
Gents Toilets
Stores
Staff Room
Current Trading Hours
Monday & Tuesday closed
Wednesday - Saturday 12.00pm – 12.00am
Staff
Currently operated under management by 12 members of staff.
Fixtures & Fittings
A full inventory would be made available prior to an exchange of contracts.
Rates
The premises are assessed as follows:
Rateable Value £20,000
This is not the amount you would pay.
Tenure
The premises are held on a 20 year lease from 2009 at a passing rent of £27,000 per annum. Full details are available on application.
EPC
Rating D.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
