Leasehold Restaurant In Darlington, Durham For Sale

Property Information

Property:

Leasehold

Lease Terms:

LEASEHOLD £55,000 to include goodwill and fixtures and fittings. Stock at valuation in addition.

The business is held on a part repairing and insuring lease from a private Landlord for an open term. The Landlord will grant a new lease and agree new terms with the prospective buyer. The lease falls within the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent is £24,000 per annum (including insurance), paid monthly in advance. An incoming party will be required to provide personal guarantors. Free of all trade ties.

Leasehold Rent:

£24,000 per annum

Location:

Situated in the heart of Darlington. This market town is a popular location with high street shops, bars and restaurants. Darlington is easily accessible by car via the A1 and the train station is just a short walk from its popular shopping areas. This busy site offers ample passing trade from retail shoppers and visitors to the town centre. The business is housed in a large mid-terrace building under a pitched slate roof. There are three trade areas spread over two floors.

Premises Details:

Property:
Trade areas
Reception leading to the main dining area which seats 40 and has a modern bar servery, wood flooring, industrial lighting and air-conditioning.

At first floor, there is an additional dining room which seats 50 and could be used for private dining or functions.

There are ladies’ and gentlemen’s toilets on the first floor and an easy access toilet on the ground floor.

Fully-equipped commercial kitchen with separate dishwashing and prep room, walk-in cold store and dry storeroom.

Licence:
A full premises licence is held.

Services:
All mains services are connected.

Local Authority: Darlington Borough Council.

Rateable Value: £18,000 as of 01 April 2023.

Business:
Our clients have turned this restaurant into a very successful business; it is reputed to be one of Darlington's best restaurants, offering freshly cooked food at a reasonable price. It is currently open six days per week. With an approximate net turnover for the year ended 2022 of £500,000, this business is a very profitable operation.

Business Operation

Management type:

This business is owner operated.