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Well-Established Independent Authentic Italian Restaurant In Newcastle Under Lyme For Sale

Newcastle, Staffordshire, UK
Asking Price:
£89,000
Turnover:
Undisclosed
Net Profit:
Undisclosed

Established in 2013, this authentic Italian restaurant has transformed from a small café into a bustling daytime hotspot and an evening fine dining gem.

Initially open on Saturdays, the success expanded to Thursday and Friday evenings until the first lockdown. Despite challenges, we have thrived, now focusing on Wednesday to Saturday evenings.

The vendor's resilience and commitment to excellence have earned them numerous awards, including Good Food Awards, Local Restaurant of the Year, and Trip Advisor accolades.

Situated in the heart of Newcastle-under-Lyme, the restaurant benefits from a prime town centre location with ongoing regeneration, including the new York Place development and planned accommodation in the old Moreton House and current car park. The town has a university and a large hospital, ensuring a steady stream of potential customers.

With an 11-year loyal customer base, there is significant scope to increase trading days and hours by reintroducing lunchtime service and potentially morning openings. The current alcohol license permits service from 10 am to 11 pm, Monday through Sunday.

This award-winning Italian restaurant presents a fantastic opportunity for new owners to build on a solid foundation and further expand its success. Its prime location and excellent facilities make it poised for continued growth and popularity in Newcastle-under-Lyme.

Key features:
- Established in 2013: From a small café to a popular daytime and fine dining evening spot.
- Awards: Numerous accolades, including Good Food Awards, Local Restaurant of the Year, and Trip Advisor awards.
- Prime Location: Town centre with ongoing regeneration projects, near university and large hospital.
- Expansion Potential: Opportunity to extend trading days and reintroduce lunchtime service.
- Alcohol License: 10 am-11 pm, Monday-Sunday.
- Opportunity: Ideal for new owners to build on a strong foundation and expand success

Property Information

Property:

Leasehold

Lease Terms:

The rent is £20,000 PA with a five-year lease and a three-year break clause.

Location:

Some call it a hidden gem, but it is still centrally located off the town's high street.

Premises Details:

The premises consist of a spacious, attractive main hall with a capacity of 50 covers, a waiting area and bar, a kitchen and storage room, plus men's and ladies' toilets.

Size in square feet:
1,550

Business Operation

Expansion Potential:

Due to the Vendors circumstances, the restaurant currently opens four days a week. The new owner has the opportunity to expand the opening hours and increase sales.

Reasons for selling:

Change of circumstances, so they're looking for a new opportunity to fit in with their lifestyle.

Trading hours:

Limited opening hours
Wednesday - Saturday from 6pm

Employees:
5
Years established:
11

Other Information

Support & training:

The vendor recognises the need for a handover to achieve a smooth transition if required.