Restaurant for sale

Morpeth Street, Newcastle Upon Tyne NE2

Tenure: Leasehold

Multi award winning

restaurant business - for sale



Spital tongue, newcastle upon tyne

established • fully fitted • award-winning • new lease available

Business sale price - £80,000

Approx. Weekly turnover - £10,000

annual rent£15,600

Gia - 50 sqm approx

Small business rates relief qualifying premises


The opportunity:

An exciting opportunity to acquire an established and fully fitted restaurant business in the popular

Morpeth Street / Spital Tongues area of Newcastle upon Tyne.

The business is offered for £80,000 with a new lease available at a quoted rent of £15,600 per annum

(£1,300 per month). The premises are fitted and ready for continued restaurant operation, offering an

incoming operator an established trading environment with dine-in, takeaway and delivery potential.
Key highlights


• Reported weekly turnover of approximately £10,000, including approximately £9,000 card sales and £1,000 Just Eat / delivery sales.

• Fully fitted restaurant with established kitchen, bar/service counter and customer dining area.

• New lease available at a quoted rent of £15,600 per annum (£1,300 per month).

• Class E planning use and alcohol licence stated as operating from 9:00am to 10:00pm.

• Currently closed Sundays and Mondays, creating potential to extend trading hours subject to relevant

The property occupies a strategically positioned location close to major institutions, employment hubs

and established student accommodation, providing a strong customer catchment for both daytime and

evening trade.

Nearby destinations include:

• Royal Victoria Infirmary (rvi)

• Newcastle University

• Existing student halls and accommodation
New leazes student development


The new Leazes student development is expected to provide more than 2,000 additional student beds in

the area. Together with the existing student population, nearby workplaces and major institutions, this is

expected to support additional footfall, passing trade and future business growth.

The premises provide an attractive, characterful restaurant environment incorporating timber finishes,

wood-effect flooring, contemporary seating, a fitted service counter/bar and established food and

beverage equipment.

The layout is suitable for dine-in, takeaway and delivery-led trade. Existing fixtures, fittings and

equipment provide a ready-to-trade solution for an incoming purchaser.

Business sale price - £80,000

Reported turnover - Approx. £10,000 per week

Rent - £15,600 per annum / £1,300 pcm

Lease - New lease option available

Planning - Class E

Alcohol licence hours - 9:00am – 10:00pm

Current closing days - Sunday & Monday
Development potential


• Opening on Sundays and Mondays.

• Extending trading hours where permitted.

• Expanding delivery and takeaway sales.

• Developing the food and beverage offering.

• Increasing local marketing and online presence.

• Capturing additional footfall generated by nearby student accommodation, institutions and workplaces.

• BBC Newcastle

• Nearby bmw motor dealership

• Newcastle city centre and surrounding residential areas

viewing & further information
Reported turnover


Viewings are strictly by prior appointment. Further financial information, trading records and lease

details can be provided to genuinely interested parties, subject to appropriate confidentiality and

verification.

Requirements