Restaurant/cafe to let in The Ram, 19 Castle Gate, Newark NG24

Key Points

Location

The historic market town of Newark, with a catchment of over 150,000, is located approximately 16 miles south west of Lincoln, 17 miles north east of Nottingham and 13 miles north west of Grantham. The town is located at the junction of the A1, A46 and A17 and is situated on the East Coast Main Line railway. It is well known for its market, which is surrounded by attractive Georgian buildings. This, coupled with its Castle and strong reputation for antiques and antiquities, ensures it is popular with both residents and visitors.

Terms

Offered for sale as a going concern by way of a lease assignment. The lease was for 10-years from June 2019, with a passing rent of £50,000 per annum plus vat and landlords insurance. Rent reviews 5-yearly.
A copy of the lease is available on request.

Availability_Text

The accommodation comprises the following areas:
The ground floor trading areas offer 5 areas for eating and drinking throughout, with several rooms benefitting from log burners and other features. With a main central bar servery and extensive back bar.
Ladies, gents and disabled w/c's fitted to a high standard.
First floor function room for capacity for over 100 guests seated, with its own bar and w/c's, allowing it to trade independently of the rest of the business.
First floor catering kitchen with food lift to the ground floor.
A range of ancilliary and store rooms, to include cellar and offices.
The front elevations to first and second floor are a range of rooms that would require renovation but could offer potential for letting bedrooms.

Trading Performance

We are advised that year end 2022/2023 net turnover was circa £900k. Trading information is available for interested parties that have viewed the business premises.