Location
The business is situated on a pleasant residential street just to the north of the main shopping centre. Corbridge is one of the most popular towns in the Tyne Valley with a growing local population and strong levels of tourists and visitors throughout the year. Access is easy via the A69 and there is on street parking directly outside the business.
Business
This is an extremely successful restaurant which has been operating within the Tyne Valley for almost 28 years, originally in Prudhoe and then from the current location for the last 14 years. The business has been placed on the market as our clients wish to retire.
The premises are in excellent order and are currently configured to provide three separate spaces; on the ground floor there is a bar and tapas restaurant with circa 30 covers plus a traditional restaurant with up to 70 covers and the main kitchens. On the first floor, with access through the main restaurant, there is a currently unutilised private dining room for up 60 persons.
The current menu reflects the owner’s Sicilian heritage and whilst there is a range of pizza and pasta dishes, there is a also a selection of traditional Italian meals and daily specials. The restaurant has an excellent local reputation with loyal regulars and high levels of repeat business and whilst the main trade is generated from the sit in element there are also some collection orders. 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, layout and potential of this rare opportunity.
Premises
Comprises part of an extensive two storey former Co-op.
Ground Floor
Bar /Tapas 43m2 470ft2
Restaurant 109m2 1,180ft2
Kitchen 36m2 391ft2
Ladies Toilets
Gents Toilets
Mezzanine
Stores 23m2 250ft2
First Floor
Private Dining 80m2
Current Trading Hours
Sunday, Monday & Tuesday closed
Tuesday - Saturday 10.00am – 10.30pm
Staff
Currently operated by the owners with the help of 1 full time and 4 part time 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 £18,000
Tenure
The premises are held on a 10 year lease from 2012 at a passing rent of £17,500 per annum. We understand that a new lease will be available subject to agreement. Full terms on application.
EPC
C.
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.
