Authentic Uyghur Restaurant in Newcastle upon Tyne Available for Sale
Newcastle upon Tyne, Tyne and Wear
- Status
FOR SALE
- Advert ID
652697
- Reference
B09657 / Rightbiz
- Call Agent:
- Leasehold: £299,999
- Turnover: £800,000 (£15,385 per week)
- Profit: £160,000
Business Details
A Taste of the Silk Road – Authentic Uyghur Restaurant Opportunity
BusinessPlease quote reference B09657
CoGoGo welcomes an established Uyghur and Xinjiang restaurant generating approximately £800,000 annual turnover and £160,000 net profit, with the added benefit of a late-night premises license until 4:00 am across both floors.
Located in Newcastle city centre, the business has built a strong reputation for authentic cuisine and attracts residents, students, professionals and visitors. Revenue is generated through dine-in, takeaway and online ordering.
This is for the sale of the assets and lease, the business is available for an extra £50,000.
The spacious two-floor premises offer significant potential for further growth. The currently underutilised first floor could be developed into a bar, cocktail lounge, nightclub, cafe, private events venue or other hospitality concept, subject to any necessary consents. With the late-night license covering both floors, there is potential to operate complementary daytime and late-night offerings from the same premises.
The business has a late night licence until 4am. The first floor is currently not in use so there is room to expand income from that.
Established under the current ownership for three years, the business provides an opportunity to acquire an established restaurant with substantial scope for diversification.
Viewings are strictly by appointment only.
Location
Occupying a prominent position in Newcastle city centre, the business benefits from excellent footfall and strong visibility within one of the city's most established food and leisure destinations. The location attracts residents, students, professionals and visitors throughout the year.
Premises
Spacious two-floor premises in Newcastle city centre. The ground floor accommodates the established restaurant, including customer seating, a fully equipped commercial kitchen, and ancillary facilities.
Tenure
Leasehold premises.
We are advised that the current rent is approximately £3,600 per calendar month.
Business rates are reported to be approximately £30,000 per annum.
Further lease information can be provided upon request.
Hours
The current operating hours are:
Monday to Friday - 12:00 pm to 10:00 pm
Saturday & Sunday - 12:00 pm to 10:30 pm
The business benefits from a valuable late-night licence permitting trading until 4 am.
Staff
The business is operated with a team of approximately 6–7 staff members.
Financial Profile
We are advised that the business generates an annual turnover of approximately £800,000, with a reported net profit of approximately £160,000.
Current stock is estimated at approximately £20,000.
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Stay Safe
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.
Stay Safe
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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