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Italian Restaurant In Low Fell For Sale

Low Fell, Tyne and Wear
Asking Price:
£41,950 Furniture / Fixtures included
Turnover:
£175,000
Net Profit:
Available on request

• Thriving business in good suburban area.
• Sales circa £3,500 to £4,000 weekly.
• Dining room of 50 covers plus separate bar.
• Recently refurbished premises.
• Ideal for family or partnership.
• Fully fitted and equipped premises
• LEASEHOLD ASKING PRICE £41,950

Property information

Property:

Leasehold

Lease Terms:

We are verbally informed that the premises are held by way of a 10 year FRI lease from 2015. The current rent is £12,000 per annum with a rent review at the 5th anniversary. Interested parties should seek legal confirmation of this.

Leasehold Rent:

£12,000 per annum

Location:

The premises are located on the main road running through the popular suburb of Low Fell. This is a sought after residential area with a pleasant mix of residential accommodation together with a busy secondary shopping area. Tenants include a range of small independent shops plus multiples such as Boots the Chemist, Costa Coffee and Savers.

Premises Details:

This is a very long established restaurant site but the current business was established by our client in 2015 and has built up a good local reputation with high levels of repeat custom. The menu is of traditional Mediterranean fare and offers a range of pizza, pasta and meat dishes for a variety of budgets.

The dining room has recently been refurbished and the décor is of a modern style and set out for approximately 50 covers to the first floor, together with a pleasant service bar area. The layout and style of the dining room means that it would be suitable for other cuisines dependent on choice.

Viewing is strongly recommended to appreciate the location of the unit and the fit and finish.

Energy Performance Rating:
C

Business Operation

Employees:
The business can be sold free of staff.
Years established:
5 years.

Contact Information

    1. Your Address

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  1. What will happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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