Location
This popular Greek Restaurant is located in the centre of Morpeth at the junction of Bridge Street with Castle Square. The restaurant has the advantage of being in an extremely prominent position as you enter Morpeth from the south across the River Wansbeck.
Morpeth is an extremely popular and expanding market town approximately 15 miles due north of Newcastle upon Tyne. The local population has expanded greatly over the past decade with new housing developments to the north and east of the town.
Accessibility is excellent via the A1(M) and there is also has a mainline railway station with direct trains to London and Edinburgh. Newcastle International Airport is within a 30 minute drive of the town.
Business
This site originally operated as an Italian restaurant before our client acquired the lease in 2018 and then refurbished before relaunching as a Niko’s Taberna.
The premises are extensive and provide a service and bar area to the front with a large dining area beyond which is configured to provide 3 or 4 separate spaces. The kitchen and toilets are on the first floor.
The menu is specific to the cuisine and concentrates on providing authentic dishes that reflect the Greek roots of the owner. The restaurant has a loyal customer base but could be used for other cuisines should a new owner wish to repurpose.
Premises
Ground Floor 130 sq.m. (1,400 sq.ft.)
Bar / Dining Room
First Floor 61 sq.m. (660 sq.ft.)
Kitchen
Store
Gents Toilets
Ladies Toilets
Trading Hours
Tuesday - Saturday 5.00pm – 10.00pm
Sunday & Monday closed
Fixtures & Fittings
Fully fitted and equipped.
Services
Electricity, water and sewerage are connected, and the premises are air conditioned.
Rates
The property is assessed as follows:
Rateable Value £39,500
Rates incentives subject to individual status.
Tenure
The premises are held on a lease expiring in 2032. The current rent is £30,000 per annum. Further details are available on request.
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.
