Newport Riverside Restaurant/Cafe, The Octopus Lounge, For Sale, Seats Over 80 Customers
City of Newport, Newport
- Status
FOR SALE
- Advert ID
626790
- Reference
95461 / Rightbiz
- Call Agent:
- Leasehold: £39,000
- Turnover: Not Applicable
- Profit: Not Applicable
Business Details
NEWPORT RIVERSIDE RESTAURANT CAFE
The city of Newport has a population of over 160,000 and is the Principality of Wales' third biggest city. The city is synonymous with the River Usk on which it stands astride being the reason it became a renowned international port during the Industrial Revolution. Whilst these days are gone, the riverside areas are now being developed on the initiative of the City Council into desirable residential and commercial areas.
On one such development is located the subject property, The Octopus Lounge which operates as a cafe and bistro. In addition to the self-contained trading area there are external facilities for well over 40 customers, much of which is covered due to the architecture of the building and provides seating space for customers.
The trading areas are briefly arranged as follows:
TRADE AREAS
The main RESTAURANT/CAFE is glazed on three sides and was completely refurbished in 2020 and has feature high-back booth American diner/ice cream parlour style seating although the upholstery is very much suitable for a more sophisticated restaurant experience. In total there is seating for 40, nearly all of which due to the glazed sides has open views across the river. There is also a seated RECEPTION AREA with leather bound sofas and chairs. Within this dining area are CATERING DISPENSING FACILITIES including hot and cold facilities, glazed fronted ice cream fridges etc. To the rear is an enclosed CATERING KITCHEN which is comprehensively equipped having a full selection of stainless steel catering effects and work surfaces and there is also a large walk-in DRY STORE/STOREROOM adjacent.
Furthermore, there are CUSTOMER TOILETS.
EXTERNAL
As previously stated there are patios to the side and front of the property, part of which is covered by the overhang of the apartments above. These areas when fully furnished can comfortably seat 40 customers.
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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.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
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.
Stay Safe
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.
Stay Safe
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.
Stay Safe
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.
Stay Safe
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.'.
Stay Safe
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.
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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.
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