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Restaurant Opportunity

Heaton £55,000 Leasehold (fees apply) REF: NE1334

Location

The business is located on Chillingham Road which is the principal road running through the heart of Heaton, a popular suburb to the east of Newcastle City centre.

The subject property forms part of a small parade close to the Sainsbury’s Local and within what is the main shopping area serving this community.  Other occupiers include Tesco Express and TSB Bank plus a multitude of independents.

The immediate area includes a pleasant mix of retail, commercial and residential dwellings and there is ample free on street parking nearby.

Business

The current business was established by our client from the site in 2015 and has grown to become one of the most successful and well-known restaurants in the North East.

The current menu showcases the best of local produce and the dishes comprises fish, meat and poultry dishes together with vegetarian options.  The business does not currently open during the day but there is genuine scope and local demand to do so and previously there was a brunch service.

The premises are in excellent order throughout   and configured to provide a compact service area and kitchen which opens into the main dining room. 

Premises

Comprises a ground floor single storey unit;

Ground Floor

Restaurant / Kitchen               61 m2      650 ft2

Preparation Area                      9 m2        98 ft2

Toilets

EPC

Rating D.

Trading Hours

Mon - Tues                              closed

Wed - Sat                                5pm - 10pm

Sunday                                    12 noon - 4pm

Fixtures & Fittings

A full inventory would be made available prior to an exchange of contracts.

Rates

The premises are assessed as follows:

Rateable Value           £11,250

Rates free incentives subject to status.

Tenure

The premises are held on a 10 year FRI lease dated from 2012 although a new longer lease may be available.  The rent is £11,200 per annum and with annual rent increases of 2%.

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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