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Mexican Restaurant Opportunity

Sunderland £10,000 Leasehold (fees apply) REF: NE1521

Location:

The premises are located within a busy, professional, office and leisure area close to Sunderland city centre.  Nearby occupiers include solicitors, estate agents, hairdressers and restaurants with good levels of captive trade.  Sunderland is enjoying significant investment at the moment with an expanding City centre population and major infrastructure projects such as the new bridge over the River Wear.  In a recent survey Sunderland was voted the best place to live and work for under 30’s in Britain which is a huge coup for the City.

Business:

This business operates as a Mexican restaurant and licensed premises which has been trading since 2017 but is now placed on the market as our client wishes to concentrate on other business

The business now trades by appointment only catering for private parties and functions.  The premises are set out to provide a main dining area with a fitted bar and a compact, fully fitted kitchen off.  Whilst the current menu is Mexican fare, the site is suitable for a variety of cuisines and would lend itself easily to a change of food type.

There is metered daytime parking available on the street (free after 6.30pm) with longer term parking available in and around.

Premises:

Comprises a split level lower ground floor retail unit offering the following accommodation;

Lower Ground Floor

Bar / Restaurant        circa 480 sq.ft. (44.6 sq.m.).

Kitchen Area             circa 86 sq.ft. (8 sq.m.).

Upper Basement

2 x W.C.’s

Store

External Parking for 1 vehicle.

Trading Hours:

Licensed till 11.00pm weekdays and 1.00am Fridays and Saturdays.

Tenure:

The premises are currently held by way of a lease expiring in 2020.  A new lease is available (minimum term 3 years) at a rent of £6,000 per annum which is payable quarterly in advance.

Rates:

The premises are assessed as follows:

Description                  Shop and premises

Rateable Value                       £2,800

Rates incentives available subject to status.

EPC:

Rating – D  

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.

 

 

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