FOR SALE
625119
95400 / Rightbiz
Newcastle upon Tyne city centre
Mid 19th century building
Three trade areas (147)
Large commercial kitchen
Beer garden (70 )
Free-of-tie
Location:
Bar Loco is located on Leazes Park Road in the heart of Newcastle city centre, a stone’s throw away from St James’ Park, the home of Newcastle United FC. This is an extremely popular area for a night out and enjoys very high footfall. With the addition of a large student population and busy match days, Bar Loco presents an excellent opportunity to purchase a turnkey business in an excellent location.
The property is a large, three storey, late Georgian, terraced building with rendered walls under a slate roof. It briefly comprises:
Trade Areas:
Main entrance from the front beer garden into a central hall and stairway. To the right is a small SNUG AREA with its own servery and original features such as a feature fireplace and high ceilings. This trade area has some seating but is more of a standing area.
Left of the entrance hall is a large LOUNGE AREA with comfy sofa seating and a rustic feel that is in keeping with the age of the building.
CELLAR
Located to the rear of the snug servery is the cellar that is fitted with a good quality dispense system.
FIRST FLOOR
The first floor is divided in two: the front of the first floor is the main trade area and with wood flooring, exposed brickwork and feature fireplaces, this is a cool drinking lounge with a rustic feel. The rear half of the first floor is a large COMMERCIAL KITCHEN which is fully equipped and capable of producing a large number of food plates.
TOILETS are located off the main staircase.
All trade areas are presented in excellent condition. Our clients have invested heavily in the redecoration and rewiring of the property, installed a new fire alarm system and sound system, and purchased new furniture and kitchen equipment for the business.
SECOND FLOOR
This floor is subleased to a local business and achieves a rental income of £650per month.
EXTERNAL
To the front of the building is a large beer garden with seating for 70 but this area has a much larger capacity.
LICENCE:
A full Licence is held.
SERVICES:
All mains services are connected.
Local Authority: Newcastle City Council
Rateable value as at 01 April 2023 to present: £27,750
Accounting details are available to all interested parties following a formal viewing.
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Get SolicitorThe data showed regarding this advert 'NEWCASTLE UPON TYNE LEASEHOLD CITY CENTRE BAR - 95400 / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.