A new opportunity has arisen for any aspiring restaurateurs looking to open a new venture in a renowned location in Newcastle, with the former Mamma Mia restaurant on Pudding Chare now available to lease.
Our Newcastle office has been appointed to secure a new tenant for the 1,650 sq ft unit, which has space for circa 70 covers. The light and airy space is also suitable for use as a bar or café subject to planning.
Commenting on the opportunity, Mark Convery, surveyor in our agency team, said: “This is an excellent opportunity to open a restaurant or bar in a thriving part of the city. With a new large student accommodation development due to open later this year, and both the Bigg Market and Newgate Shopping Centre undergoing significant improvements, footfall in the area will continue to grow providing a ready-made customer base for any new venture.”
The property is located at the northern end of Pudding Chare, which opens out onto the Bigg Market, with new student accommodation due to open at the southern end of the street by the end of 2016.
Mark continued: “Mamma Mia was a very popular eatery, and I am sure that anyone who takes on the lease will be a great success. We are already receiving a lot of interest in this unit, so we hope to have a new tenant agreed very shortly – any interested parties should contact us without delay, as we do not expect this to be available for long.”
The property is available on a leasehold basis, but an assignment or sub-lease is available on a full repairing and insurance basis, with terms to be agreed. The current passing rent on the property is £17,900 per annum.
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