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Restaurant Opportunity

Newcastle upon Tyne Offers over £300,000 Freehold REF: NE1473

Location

The property is located within an established leisure district to the west of the City centre opposite the Centre for Life.  The immediate area is a mixture of leisure and retail accommodation and this area of the City has benefitted recently from significant improvements to the road and access infrastructure.

Business Opportunity

The property is occupied by a long established Persian restaurant which has been trading from this location for approximately 18 years.  The business has built up a loyal customer base over the years and has also built up a number of commercial relationships with the nearby hotels.  The immediate area has a number of pubs, bars and restaurants and Marlborough Crescent is a busy route used by students for Newcastle College.

The restaurant dining area is laid out over two floors and can accommodate up to 50 diners, the seating is currently configured to provide a pleasant mixture of chairs, tables and fixed seating.  The ground floor is laid out to provide approx. 15 covers and incorporates the bar area together with the kitchen at the rear. The first floor providing a further 35 covers.  The kitchen is fully equipped and there is a good sized cellar with dry stores and a secure storage room for alcohol.  The second floor provides additional storage space plus an office area and a small function room.

Whilst the current trade is based on Persian cuisine and new owner could diversify into another style of food and the property would easily lend itself to a rebrand.

Property

Comprises a self-contained four storey mid terrace commercial unit forming part of a parade.  

Basement - 317 sq.ft. (29.48 sq.m) with storage chiller, dumb waiter (serving 3 floors), shelving and beer cellar.

Ground Floor

Restaurant - 272 sq.ft. (25.29 sq.m).

Kitchen - 269 sq.ft. (24.95 sq.m).

First Floor

Restaurant - 449 sq.ft. (41.7 sq.m) with circa 35 covers

Ladies Toilets

Gents Toilets

Property (cont’d)…. /

Second Floor

Stores, Office & Private Room – circa 613 sq.ft. (56.9 sq.m).

Fixtures & Fittings

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

Rates

The premises are assessed as follows:

Rateable Value £12,250

Rates incentives are available subject to status.

Tenure

We are verbally informed that the property is available on a Freehold basis.  Interested parties should seek legal confirmation of this.

EPC

Rating - C

If you require sight of an Energy Performance Certificate prior to making a viewing appointment then please get in touch with this office

 

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