MICHELIN GUIDE RESTAURANT

:
* Michelin guide recommended restaurant
* Located in a prime trading position in vibrant area
* Completely refurbished in 2008 to a high standard
* 55 cover restaurant split over two floors
* Advised current turnover circa £6,000 per week


SITUATION
The business is prominently situated on Percy Park Road in Tynemouth, surrounded by many complementary bars and shops. Tynemouth is approximately 7 miles from Newcastle City Centre and 3 miles from Whitley Bay. Recently Tynemouth has been suggested to be the next up and coming area for bars and restaurants.

BUSINESS
The business has been owned and operated by our client for the last two years. They are now looking to sell the leasehold to pursue other business interests. The restaurant has been recommended in the Michelin Guide for the last 2 years of trading and provides diners with a relaxed atmosphere and fine dining.

TRADING AREA
The trading areas were completely refurbished at the start of 2008 to a high standard throughout. There are 55 covers split over two floors which include 35 covers on the ground floor and 20 covers on the lower ground floor. Seating is provided on high back wicker chairs and fixed leather bench seating around wooden top tables. The ground floor has a bar servery with coffee machine, large wine rack and serves bottled beer. The restaurant is fully air conditioned
On the 2nd floor is the catering kitchen which has been refitted with new cookers and is due to have a new extractor fan fitted with an air conditioning unit. The kitchen has a full range of stainless steel appliances including ice cream maker, commercial cookers, ovens, fridge and freezers. There has been a dumb waiter installed from the kitchen to the main dining room.

TRADING HOURS
Monday 6pm – 12midnight

Tuesday to Saturday
12noon – 2.30pm & 6pm – 12midnight

Sunday Closed

FIXTURES AND FITTINGS
We are advised the fixtures and fittings are owned outright.

STAFF
The business is operated by the owner with the assistance of 2 full time members of staff and 5 part time.

LICENSES
We are advised that a Premises License has been granted under the Licensing Act 2003 allowing the business to trade 7 days a week between 12noon and 12midnight.

TRADING INFORMATION
We are advised by our client that the current turnover is approximately £6,000 per week on average. Accounts will be made available to any genuinely interested parties who have viewed the premises through Moralee & Co

TENURE
The property is held on a 5 year rolling lease agreement with a private landlord. The current annual rent is £15,000. Our client has advised us that the landlord may consider a new long term lease should it be required.

RATES
The rateable value of the premises is £7,900 with the rates payable for 2008/2009 being £3,476.

SERVICES
We understand that the property has all mains services.

VIEWING
As this business is being confidentially marketed, all viewings must be made through this office. No direct approach should be made to the owner or the business itself.


MISREPRESENTATION ACT 1967 & PROPERTY MISDESCRIPTION ACT 1991
These particulars are provided only as a general outline of the property referred to. Parties should make their own enquiries and inspection of the property to satisfy themselves as to the accuracy or otherwise of the information given. Other than this general outline neither we nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the property referred to above.