Commercial property for sale in Newcastle upon

DescriptionLandmark Oriental is a long established business and a household name in the city of Newcastle upon Tyne and the wider North East region. The business offers exceptional attention to detail and hospitality and, above all, serves great Oriental cuisine. Located 500yards away from St James Park, the home of Newcastle United Football Club, the restaurant benefits greatly from all events held there. Ample surrounding Public Car Parks are nearby. Two private car parking spaces are provided within the lease, in the rear service area. The restaurant has a 4.5* rating on Google Reviews and a 4* Rating on TripAdvisor with many 'Excellent' reviews. * Please note this is a SHARE SALE: The shares in Enterprise Eight are being offered for sale. LocationThe restaurant occupies a prominent position on Stowell Street, also known as China Town, on the ground level of the Q-PARK car park, in the heart of Newcastle upon Tyne city centre. Situated amongst an established licensed and leisure circuit, Landmark is ideally positioned amongst an array of commercial premises including St. James' Park football stadium, The Stack, Eldon Square Shopping Centre and multiple office blocks. Internal DetailsThe restaurant features a split-level design, starting with a welcoming bar reception area. It offers cozy and intimate dining booths, which lead down to the main restaurant area. Here, you’ll find additional booths and large round banqueting tables, perfect for celebrations and business dinners. Overall, the dining area accommodates approximately 150 seated guests. It is decorated in a modern, contemporary style and is well-maintained throughout. Ancillary Areas: A commercial grade catering kitchen, various store rooms, a beer cellar and toilet facilities. Fixtures & FittingsWe have been advised that the majority of the fixtures and fittings are owned outright and will be included in the sale, subject to an inventory. We are advised that the trade fixtures and fittings are substantially free from loan, lease or hire purchase agreement. VATWe have been advised that the purchase price is subject to VAT. The OpportunityLandmark Oriental is a very well renowned eatery, has a loyal client base and is regularly used by many corporations for client entertaining. The business offers the opportunity for an experienced operator to take on a going concern with an excellent reputation but with scope to increase turnover and profit margins. StaffThe restaurant is currently owner operated by a family and has been for almost 20 years. They are supported by a team of full and part-time staff. A full schedule of employees can be provided on request. Trading InformationTurnover for year ended 31.08.2023 shows a net turnover of £968,652. Gross Profit margin is high and EBITDA was c.£230,000. The business has reported profits consistently since 2005. Trading HoursMonday Closed Tuesday to Thursday 5.00pm to 9.00pm Friday 12.00pm to 2.00pm & 5.00pm to 9.30pm Saturday 12.00pm to 2.00pm & 5.00pm to 9.00pm Sunday 12.00pm to 7.30pm TenureThe property is held on a 25 year lease commencing 11 December 2005, with rent reviews scheduled for every fifth anniversary of the lease. The vendor is offering for sale the entire share capital of the operating company Enterprise Eight Limited. Purchase price subject to VAT Business RatesThe Rateable Value as of 1 April 2023 is £76,000. Confirmation of actual rates payable can be obtained from the local Authority. RegulatoryPremises License Energy Performance Certificates EPC 1

Commercial property for sale in Newcastle upon Tyne, England

Restaurant for sale

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