Businesses For Sale
Food
Restaurant Opportunity
Jesmond
£95,000 (Leasehold)
REF: NE2188
Location
The restaurant lies within Jesmond which is located just to the north of the City centre in arguably the most sought-after residential district of Newcastle.
The subject property occupies a single storey building on Acorn Road which is the prime retail address within Jesmond. The immediate area includes a pleasant mix of independent shops, hotels, bars and restaurants plus high value residential dwellings.
There are only ever a limited number of food and restaurant opportunities available within Jesmond at any one time and therefore high levels of interest are anticipated in this site.
Business
This business was established by our client in 2023 with another chef partner but due to a change in personal circumstances the business is reluctantly on the market.
The premises are in good order throughout and the unit was refurbished when the restaurant opened. The premises are configured to provide an open dining and restaurant / prep area.
The restaurant currently trades 7 days a week with a lunch service on weekdays and then all day trade on the weekend. Sales are in the region of £12,000 weekly with only 25% of those sales being generated from deliveries.
The restaurant has an excellent reputation with strong reviews and high levels of repeat business and referrals. However, should a new owner choose to, the premises would be suitable for other cuisines.
Premises
Comprises a self-contained ground floor space.
Ground Floor
Dining / Kitchen 61m2 650ft2
Staff / Storage Area
W.C.
Current Trading Hours
Monday - Friday 12pm - 3pm 5pm - 9pm
Saturday - Sunday 12pm - 9pm
Staff
Currently run under management by 3 full time staff plus various part timers.
Fixtures & Fittings
A full inventory would be made available prior to an exchange of contracts. The premises are well fitted and equipped.
Rates
The premises are assessed as follows:
Rateable Value £29,000
Tenure
The premises are held on a 10 year FRI lease from April 2022 with a break clause and rent review at the 5th anniversary. The rent is £29,500 per annum and there is 6 month rent bond applicable.
EPC
Rating E.
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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