• Highly reputable trading operation.
• Sales average £8,000 - £10,000 weekly.
• Currently trading 5 days only.
• Restaurant, Bar and Private Dining facilities.
• Immaculately fitted and equipped.
• Genuine Retirement sale.
- Asking Price:
- £75,000 Furniture / Fixtures included
- Turnover:
- £500,000
- Net Profit:
- Available on request
Property Information
- Property:
-
Leasehold
- Lease Terms:
-
The premises are held on a 20 year lease from 2009 at a passing rent of £27,000 per annum. Full details are available on application.
- Leasehold Rent:
-
£27,000 per annum
- Location:
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The business and property is situated at the southern end of Front Street in a mixed commercial and residential area, close to the cricket club. Chester le Street is a popular market town located between Newcastle and Durham with excellent road links via the A1(M) and A167.
- Premises Details:
-
This is an extremely successful and established restaurant and bar which has been operating from the site for the last 19 years. The business has been placed on the market as our clients wish to retire.
The premises are in excellent order and the public areas were refurbished in October 2019. Laid out over two floors, the ground floor is configured to provide two separate spaces with a public bar area on the left as you enter and then seating and booths on the right which are designated to diners. On the first floor, with access through the main restaurant, there is another restaurant space which can accommodate up to 60 persons and is ideal for private functions or Sunday lunches. The premises accommodate up to 150 people with a mixture of standing and sitting.
The current menu provides a broad range of meals that include burgers, pizza, pasta and steaks. There are some specials and lunch time offers but there is no breakfast or morning coffee offering at the moment and this is something new owners could consider. The restaurant has an excellent local reputation with loyal regulars and high levels of repeat business with approximately 65% of the trade coming from food and the remainder being wet sales. The business trades on relatively short hours by choice and there is huge scope for a new owner to take this business forward.
Viewing is strongly recommended to fully appreciate the location, fit out and potential of this opportunity.
- Energy Performance Rating:
- D View EPC Graph for this property
Business Operation
- Reasons for selling:
-
Retirement
- Trading hours:
-
Monday & Tuesday closed
Wednesday - Saturday 12.00pm – 12.00am
- Employees:
- Currently operated under management by 12 members of staff.
- Years established:
- 20 years
