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21 Morpeth St 2,145 sq ft Retail Property Newcastle Upon Tyne NE2 4AS £80,000 (£37.30/sq ft)
Executive Summary
RESTAURANT BUSINESS - FOR SALE
SPITAL TONGUE, NEWCASTLE UPON TYNE
ESTABLISHED • FULLY FITTED • AWARD-WINNING • NEW LEASE AVAILABLE
BUSINESS SALE PRICE - £80,000
APPROX. WEEKLY TURNOVER - £10,000
ANNUAL RENT£15,600
GIA - 50 SQM APPROX
SMALL BUSINESS RATES RELIEF QUALIFYING PREMISES
THE OPPORTUNITY:
An exciting opportunity to acquire an established and fully fitted restaurant business in the popular
Morpeth Street / Spital Tongues area of Newcastle upon Tyne.
The business is offered for £80,000 with a new lease available at a quoted rent of £15,600 per annum
(£1,300 per month). The premises are fitted and ready for continued restaurant operation, offering an
incoming operator an established trading environment with dine-in, takeaway and delivery potential.
KEY HIGHLIGHTS
• Reported weekly turnover of approximately £10,000, including approximately £9,000 card sales and £1,000 Just Eat / delivery sales.
• Fully fitted restaurant with established kitchen, bar/service counter and customer dining area.
• New lease available at a quoted rent of £15,600 per annum (£1,300 per month).
• Class E planning use and alcohol licence stated as operating from 9:00am to 10:00pm.
• Currently closed Sundays and Mondays, creating potential to extend trading hours subject to relevant
requirements
Property Facts
About 21 MORPETH ST , NEWCASTLE UPON TYNE, TWR NE2 4AS
The property occupies a strategically positioned location close to major institutions, employment hubs and established student accommodation, providing a strong customer catchment for both daytime and evening trade. Nearby destinations include: • Royal Victoria Infirmary (RVI) • Newcastle University • Existing student halls and accommodation NEW LEAZES STUDENT DEVELOPMENT The new Leazes student development is expected to provide more than 2,000 additional student beds in the area. Together with the existing student population, nearby workplaces and major institutions, this is expected to support additional footfall, passing trade and future business growth. The premises provide an attractive, characterful restaurant environment incorporating timber finishes, wood-effect flooring, contemporary seating, a fitted service counter/bar and established food and beverage equipment. The layout is suitable for dine-in, takeaway and delivery-led trade. Existing fixtures, fittings and equipment provide a ready-to-trade solution for an incoming purchaser. Business sale price - £80,000 Reported turnover - Approx. £10,000 per week Rent - £15,600 per annum / £1,300 pcm Lease - New lease option available Planning - Class E Alcohol licence hours - 9:00am – 10:00pm Current closing days - Sunday & Monday DEVELOPMENT POTENTIAL • Opening on Sundays and Mondays. • Extending trading hours where permitted. • Expanding delivery and takeaway sales. • Developing the food and beverage offering. • Increasing local marketing and online presence. • Capturing additional footfall generated by nearby student accommodation, institutions and workplaces. • BBC Newcastle • Nearby BMW motor dealership • Newcastle city centre and surrounding residential areas VIEWING & FURTHER INFORMATION REPORTED TURNOVER Viewings are strictly by prior appointment. Further financial information, trading records and lease details can be provided to genuinely interested parties, subject to appropriate confidentiality and verification.
Nearby Major Retailers
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21 Morpeth St
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