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Restaurant Opportunity

South Shields Offers over £30,000 Leasehold (fees apply) REF: NE1603

Location

The property forms part of a busy terrace on Ocean Road which is the main route running from King Street down towards the seafront.

This is an area which has a high concentration of restaurant and food operators   and the street has recently undergone some significant investment and there is ample pull in street parking.

There are high levels of residential housing within the immediate area and on the opposite side of Ocean Road there are high numbers of guest houses and small hotels.   These generate good levels of trade for the local food outlets and are popular with contractors during the week as well as the traditional weekend visitors.

The premises operated as a 50 cover Turkish restaurant until early 2020 but would be suitable for a range of different types of cuisine.  The dining room and kitchen space is fully fitted and equipped.  Viewing is recommended to fully appreciate this opportunity.

Premises

Comprises a 3 storey mid-terrace property in good order throughout.  Access to the upper floors is from the rear lane or through the kitchen.

Ground Floor

Restaurant                 circa 760 sq.ft. (71 sq.m.)

Kitchen                       circa 296 sq.ft. (27 sq.m.)

2 x Customer Toilets

First Floor

Bedroom / Lounge    circa 200 sq.ft. (19 sq.m.)

Kitchen                       circa 210 sq.ft. (19 sq.m.)

Bathroom

Second Floor

Bedroom 1                 circa 81 sq.ft (8 sq.m.)

Bedroom 2                 circa 161 sq.ft. (15 sq.m.)

Bedroom 3                 circa 213 sq.ft. (20 sq.m.)

Services

Gas, water, electric and sewerage is installed.

Rates

The premises are assessed as follows:

Rateable Value £12,750

Rates subsidies available subject to status.

Tenure

The premises are held on a lease for a term of 12 years from October 2017.  The current rent is £15,000 per annum. Details on application.

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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