The premises are located within the centre of Heaton which is one of the most popular suburbs of Newcastle upon Tyne. The subject property forms part of a busy parade on the main road running through the suburb and within the main shopping and leisure district. The immediate area includes shops, coffee houses and eateries and lies within a densely populated residential area. There are very few restaurant opportunities available within Heaton and therefore strong interest is expected.
The premises were refurbished in early 2017 and has been placed on the market as our client wishes to concentrate on another business venture which is in Northumberland. Our client installed a new kitchen with extraction and the fixtures and fittings within the premises will all be included in any sale. There is a fitted bar area and whilst the restaurant currently operates with an Italian menu it would be suitable for alternative cuisines.
Viewing is strongly recommended to appreciate the location and potential of this opportunity and the quality of the fit out.
Dining Area / Kitchens
circa 2,500 sq.ft. (228 sq.m)
circa 250 sq.ft. (23 sq.m)
3 Store Rooms
circa 150 sq.ft (13.9 sq.m)
We are verbally informed that the premises are available on a lease at a PASSING RENT of £30,000 per annum.
A new longer lease may be available for a new tenant. Full details to be agreed regarding term and rent reviews.
Permitted Trading Hours
Monday - Sunday 9.00am to 11.00pm
The premises are assessed as follows:
Rateable Value £11,000
Rates free incentives available subject to status.
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.