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Restaurant Bar In Corbridge For Sale

Corbridge, Northumberland, UK
Asking Price:
£125,000 Furniture / Fixtures included
Sales Revenue:
£338,000
Cash Flow:
Available on request

• Highly reputable trading operation.
• Sales average £6,000 - £7,000 weekly.
• Short 4 day trading week.
• Restaurant, Bar and Private Dining facilities.
• Located in sought after Tyne Valley town.
• Genuine Retirement sale.

Property Information

Property:

Leasehold

Lease Terms:

The premises are held on a 10 year lease from 2012 at a passing rent of £17,500 per annum. We understand that a new lease will be available subject to agreement. Full terms on application.

Leasehold Rent:

£17,500 per annum

Location:

The business is situated on a pleasant residential street just to the north of the main shopping centre. Corbridge is one of the most popular towns in the Tyne Valley with a growing local population and strong levels of tourists and visitors throughout the year. Access is easy via the A69 and there is on street parking directly outside the business.

Premises Details:

This is an extremely successful restaurant which has been operating within the Tyne Valley for almost 28 years, originally in Prudhoe and then from the current location for the last 14 years. The business has been placed on the market as our clients wish to retire.

The premises are in excellent order and are currently configured to provide three separate spaces; on the ground floor there is a bar and tapas restaurant with circa 30 covers plus a traditional restaurant with up to 70 covers and the main kitchens. On the first floor, with access through the main restaurant, there is a currently unutilised private dining room for up 60 persons.

The current menu reflects the owner’s Sicilian heritage and whilst there is a range of pizza and pasta dishes, there is a also a selection of traditional Italian meals and daily specials. The restaurant has an excellent local reputation with loyal regulars and high levels of repeat business and whilst the main trade is generated from the sit in element there are also some collection orders. 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, layout and potential of this rare opportunity.

Size in square feet:
3,151
Energy Performance Rating:
C  View EPC Graph for this property

Business Operation

Reasons for selling:

Retirement

Trading hours:

Sunday, Monday & Tuesday closed
Tuesday - Saturday 10.00am – 10.30pm

Employees:
Currently operated by the owners with the help of 1 full time and 4 part time members of staff.
Years established:
28 years

Other Information

Contact North East Commercial

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