Location
The property forms part of The Nook which is a busy and popular secondary shopping area to the south of South Shields town centre. The business is located in a prominent position at the junction of Prince Edward Road with Centenary Avenue.
Business Opportunity
The Old Bank Pizza Co was established by our client approximately 18 months ago and opened in June 2022 following an extensive refit. This former Barclays Bank has undergone a complete refurbishment and all the fixtures, fittings and infrastructure are new.
The business currently trades as a pizzeria but our client is beginning to incorporate some pasta options within the menu. Whilst the majority of trade is generated by sit in diners, there are delivery and collection options and these make up around 25% of the turnover.
The location provides a good mix of customers with shoppers and local workers making up the majority of daytime trade. Residents, couples and party groups make up the evening trade and the main dining area comprises bench seating, tables and chairs plus some bar seating.
This fully fitted restaurant is very much a “turn key” opportunity with nothing for any new owner to attend to and viewing is highly recommended.
Premises
Comprises the ground floor of a larger two storey property in good order throughout.
Ground Floor (extends to 88 sq.m.)
Restaurant
Kitchen
Gents Toilets
Ladies Toilets
EPC
Rating - D.
Trading Hours (permitted from 9am - 10pm)
Tuesday - Saturday 11.30am - 9.30pm
Sunday 5.30pm - 9.30pm
Monday closed
Staff
Was operated by our client with 4 kitchen staff and 3 floor staff.
Rates
The premises are assessed as follows: Rateable Value £16,750
Tenure
The premises are held on a lease for a term of 15 years from 2022. The current rent is £15,000 per annum and increases £750 per annum until the 5th anniversary when there are break clauses and rent reviews.
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.
