Offers in region of
£80,000
Restaurant for saleMorpeth Street, Newcastle Upon Tyne NE2
1 bath
Just added
About this property
Tenure: Leasehold
Multi-Award-Winning Restaurant Business for Sale
Spital Tongues, Newcastle upon Tyne
Established • Fully Fitted • Award-Winning • New Lease Available
Business Sale Price: £80,000
Reported Weekly Turnover: Approx. £10,000
Rent: £15,600 per annum (£1,300 pcm)
gia: Approx. 50 sq m
Small Business Rates Relief Qualifying Premises
The Opportunity:
An opportunity to acquire an established, multi-award-winning restaurant business in the popular 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 fully fitted and ready for continued restaurant use, with an established kitchen, service/bar area and customer dining space. The layout is well suited to dine-in, takeaway and delivery trade
Key Highlights:
Reported weekly turnover of approximately £10,000, including around £9,000 in card sales and £1,000 from Just Eat/delivery sales.
Fully fitted restaurant with established kitchen, service counter/bar and dining area.
New lease available at a quoted rent of £15,600 per annum.
Class E planning use.
Alcohol licence stated as operating between 9:00am and 10:00pm.
Currently closed on Sundays and Mondays, offering scope to increase trading days, subject to the relevant requirements.
Existing fixtures, fittings and equipment included as part of the ready-to-trade setup.
Free parking up to 2 hours outside premises.
Genuine reason for sale - current owners looking to concentrate on other business ventures and commitments.
Location:
The business benefits from close proximity to:
Overall the location provides a broad potential customer base, including students, local residents, workers and visitors.
Further Development Potential:
There are a number of opportunities for an incoming operator to develop the business further, including:
The Premises:
The restaurant offers a characterful and established trading environment, incorporating timber finishes, wood-effect flooring, contemporary seating and a fitted service counter/bar.
The existing layout and equipment provide an incoming purchaser with the opportunity to continue trading without the need for a major fit-out.
Summary:
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
Floor Area: Approx. 50 sq m
Viewing & Further Information
Viewings are strictly by prior appointment.
Further financial information, trading records and lease details can be made available to genuinely interested parties, subject to appropriate confidentiality and verification.
Please contact us to arrange a viewing or to request further information.
Multi-Award-Winning Restaurant Business for Sale
Spital Tongues, Newcastle upon Tyne
Established • Fully Fitted • Award-Winning • New Lease Available
Business Sale Price: £80,000
Reported Weekly Turnover: Approx. £10,000
Rent: £15,600 per annum (£1,300 pcm)
gia: Approx. 50 sq m
Small Business Rates Relief Qualifying Premises
The Opportunity:
An opportunity to acquire an established, multi-award-winning restaurant business in the popular 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 fully fitted and ready for continued restaurant use, with an established kitchen, service/bar area and customer dining space. The layout is well suited to dine-in, takeaway and delivery trade
Key Highlights:
Reported weekly turnover of approximately £10,000, including around £9,000 in card sales and £1,000 from Just Eat/delivery sales.
Fully fitted restaurant with established kitchen, service counter/bar and dining area.
New lease available at a quoted rent of £15,600 per annum.
Class E planning use.
Alcohol licence stated as operating between 9:00am and 10:00pm.
Currently closed on Sundays and Mondays, offering scope to increase trading days, subject to the relevant requirements.
Existing fixtures, fittings and equipment included as part of the ready-to-trade setup.
Free parking up to 2 hours outside premises.
Genuine reason for sale - current owners looking to concentrate on other business ventures and commitments.
Location:
The business benefits from close proximity to:
Newcastle University
Royal Victoria Infirmary (rvi)
St James’ Park Football Stadium
Leazes Park
Exhibition Park
BBC Newcastle
Bmw dealership and surrounding businesses
Newcastle city centre
Existing student halls and private student accommodation
Major new student accommodation developments (2000 additional students)
Established residential communities
Major employment and commercial areas
Overall the location provides a broad potential customer base, including students, local residents, workers and visitors.
Further Development Potential:
There are a number of opportunities for an incoming operator to develop the business further, including:
Opening on Sundays and Mondays.
Extending trading hours, where permitted.
Increasing takeaway and delivery sales.
Developing the existing food and beverage offering.
Strengthening local marketing and online presence.
Building on trade from nearby student accommodation, workplaces and institutions.
The Premises:
The restaurant offers a characterful and established trading environment, incorporating timber finishes, wood-effect flooring, contemporary seating and a fitted service counter/bar.
The existing layout and equipment provide an incoming purchaser with the opportunity to continue trading without the need for a major fit-out.
Summary:
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
Floor Area: Approx. 50 sq m
Viewing & Further Information
Viewings are strictly by prior appointment.
Further financial information, trading records and lease details can be made available to genuinely interested parties, subject to appropriate confidentiality and verification.
Please contact us to arrange a viewing or to request further information.
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