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Restaurant In Low Fell For Sale

Low Fell, Tyne and Wear
Asking Price:
£40,000 Furniture / Fixtures included
Turnover:
Available on request
Net Profit:
Available on request

• Dining room of 44 covers plus waiting / bar area.
• Very reputable trading business.
• Also suitable for other cuisines.
• Opportunity to extend opening hours.
• Well - presented premises with low overheads.
• Fully fitted and equipped premises and kitchen.
• £40,000 for the FIXTURES & FITTINGS.

Property information

Property:

Leasehold

Lease Terms:

The premises are held on a 10 year FRI lease dated from 2013. The current rent is £12,500 per annum and there is a rent review at the 5th anniversary.

Leasehold Rent:

£12,500 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 with a busy secondary shopping area that serves the local population. Tenants include a pleasant mix of small independent shops plus multiples such as Boots, Costa and Co-op Foodstore.

Business

Trading from first floor premises the business was established by our client approximately 18 months ago and is currently successfully operating as a fine dining restaurant with a British & French menu. The current average spend is circa £60 - £80 per couple.

The dining room has a pleasant décor and is set out for 44 covers to the first floor, together with a separate bar and waiting area. There is potential for new owner to extend the business offer by providing weekday lunch sittings and possibly extending the hours.

The premises are licensed till midnight and the premises could be used for a variety of cuisines should a new owner wish to change direction and there is a large patio area to the rear that could be developed to provide some additional space and seating.

Premises Details:

Comprises a first floor restaurant with ground floor street access.
Ground Floor – Lobby to;

First Floor
Dining & Bar area 74.5m2 800ft2
Kitchen 31.6m2 340ft2
Staff/Store 5.9m2 63ft2
Ladies Toilets
Gents Toilets
Staff Toilets

Energy Performance Rating:
C

Business Operation

Trading hours:

Mon & Tues closed
Wed – Sat 6.00 pm – 9.30 pm
Sunday 12 noon – 4.00 pm

Employees:
Owner operated.
Years established:
2 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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