Location
This business is located in the centre of this popular suburb just to the east of Newcastle City centre and in an area of mixed retail, commercial and residential properties. This is an area popular with young professionals, young families and students. Nearby occupiers include Sainsbury’s Local plus a selection of other strong independent traders.
Business:
The business has been trading for over 15 years and in the current owner’s hands for the last 8 years. The business has been placed on the market as the owners have a young family and wish to reduce their working commitments. Currently trading as a café and bistro, the menu comprises a broad range of hot and cold drinks, snacks and sandwiches together with a good selection of bespoke vegetarian meals. The menu could be developed to include a broader offer and basement kitchen is extensive with ample preparation space for outside catering or additional services.
The premises are attractively laid out to provide a service area plus a mixture of tables and chairs for around 40 covers. The current business attracts a broad range of customers which include residents, students and local workers together with a loyal regular following drawn in by the vegetarian menu.
The premises ate licensed for alcohol and music and viewing is recommended to appreciate this rare opportunity and the unutilised potential of the business.
Premises:
Comprising a ground floor lock up unit with basement.
Ground Floor
Dining/Service Area circa 465 sq.ft. (43.2 sq.m) with a mixture of tables and chairs for 40 covers, serve over counters, drinks chillers, coffee machine and grinder plus other associated equipment.
Staff:
The business is operated by our client with the help of 3 full time and 4 part time members of staff.
Current Opening Hours:
Mon - Thurs 10.00 am - 3.30 pm
Fri - Sat 10.00 am - 9.00 pm
Sunday 11.00 am – 4.00 pm
Tenure:
The premises are held on a 15 year lease from 2010 at a commencing rent of £12,000 per annum. There will be a rent review every 5th anniversary. Full details available on application.
Rates:
We are verbally informed that the premises are assessed as follows:
RATEABLE VALUE £7,300
Rates free incentives may be available subject to individual status.
EPC:
Rating – D
