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Licensed Bar / Restaurant

Chester le Street

£40,000 (Leasehold)

REF: NE2167

Location

 

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.

 

Business

 

This is an extremely successful and established restaurant and bar which has been operating from the site for the last 25 years. The business has been placed on the market as the current operator wishes to reduce his commitments.

 

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 currently no breakfast or morning coffee offering and this is something new owners could consider. The restaurant has a strong 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.

 

Premises

 

Comprises part of an extensive two storey terrace.

Ground Floor

Restaurant / Bar                        76m2     820ft2

Kitchen                                    24m2     320ft2

Ladies Toilets

Gents Toilets

Plant Room

First Floor

Restaurant                                66m2       700ft2

Ladies Toilets

Gents Toilets

Stores

Staff Room

Current Trading Hours

 

Monday & Tuesday                              closed

Wednesday - Saturday              12.00pm – 12.00am

 

Staff

 

Currently operated under management.

 

Fixtures & Fittings

 

A full inventory would be made available prior to an exchange of contracts.

 

Rates

 

The premises are assessed as follows:

Rateable Value £20,000

This is not the amount you would pay.

 

Tenure

 

The premises are held on a 15 year lease from August 2025 at a rent of £27,500 per annum.  There are rent reviews and break clauses every 5th anniversary. Full details are available on application.

 

EPC

 

Rating B.

 

Money Laundering Regulations

 

In accordance with the current Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.

 

If you'd like to know more about how we work, give us a call on 0191 487 8566, we're always happy to help.

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