Skip to content

Earl of Pitt Street, 70 Pitt Street, Newcastle Upon Tyne, United Kingdom, NE4 5ST

£615,000

Business rates & charges may apply

Christie & Co, Pubs & Restaurants
SIZE

Ask agent

SECTOR

Pub for sale

Key features

  • Well Established Business in Prime Location
  • Net Turnover 2023 - c.£620,000pa
  • 85+ Covers
  • Longstanding Customer Loyalty
  • Fully Licensed
  • Energy Rating B
  • Christie & Co Ref: 6450536

Description

Description

The Earl of Pitt Street is a prime example of a well operated city centre pub which serves up excellent food and pulls a great pint. Highly rated on Tripadvisor as one of the best bar/restaurants in Newcastle upon Tyne, the pub has a strong local following and is a particular favourite, especially for Sunday lunches.

The food ranges from a selection of British pub classics on a Sunday, through to a wonderful selection of Asian fusion meals on the A La Carte menu. The Earl’s team also provide a catering option for private events/functions.

A stones throw away from St James' Park, home to Newcastle United, the pub is an extremely popular venue on Match days.

This red brick street corner local, which dates back to late Victorian times, is the last remaining pub at the old Newcastle Brown Ale brewery site and resonates character - with its "Alfred Hitchcock meets Vivienne Westwood" style of décor it is well presented throughout.

For further information on The Earl of Pitt Street offering, please see the business' dedicated website:

Location

The Earl of Pitt Street is located on Pitt Street, in the city of Newcastle Upon Tyne, within a stones throw of St. James’ Park and close to the Helix, a 24-acre (~10ha) innovation district in the heart of the City. Newcastle University Business School is located nearby.

With many public transport links close-by, the nearest metro station is St James Park (19 minute walk) with the closest railway station, Newcastle being approximately 0.5 miles away.

Internal Details

The ground floor level comprises of a bar area with seating comprising a mixture of sofas, tables and chairs for c.35 covers.

The first floor comprises of a restaurant with seating for c.55 covers.

Fixtures & Fittings

We have been advised that the majority of the fixtures and fittings are owned outright and will be included in the sale, subject to an inventory.

Ancillary areas

Commercial grade kitchen, cellar, cold room, storage, office as well as customer WC's.

The Opportunity

The Earl of Pitt Street presents a fantastic opportunity for an owner operator to replicate the way in which the business is currently operated. Equally, it could prove a solid acquisition for an expanding regional operator looking to grow their portfolio.

Benefitting from trade from both locals and tourists, the business is already well established with excellent reviews and good reputation.

Staff

The business is currently operated under management and a strong team.

Trading Information

We have been advised that turnover for year end November 2023 is c.£618k net of VAT.
Trading Profit & Loss Accounts will be provided to seriously interested parties on request.

Average annual barrelage (excl. guest ales, wine etc) c.135 Barrels.

Trading Hours

Earl Opening Hours
Monday - Closed
Tuesday - Closed
Wednesday - 12.00pm to 10:30pm
Thursday - 12.00pm to10:30pm
Friday - 12.00pm to 10:30pm
Saturday - 12.00pm to 10:30pm (closed for lunch food on match days)
Sunday - 11:30am to 7.00pm

Restaurant Opening Hours
Monday - Closed
Tuesday - Closed
Wednesday - 12.00pm to 8.00pm
Thursday - 12.00pm to 8.00pm
Friday - 12.00pm to 8.00pm
Saturday - 12.00pm to 8.00pm
Sunday - 11.30am to 5.00pm

Business Rates

The Rateable Value as of 1 April 2023 is £33,500. Confirmation of actual business rates payable should be obtained from the Local Authority.

Regulatory

Premises Licence

Energy Performance Certificates

EPC 1

Brochures

Earl of Pitt Street, 70 Pitt Street, Newcastle Upon Tyne, United Kingdom, NE4 5ST

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • St James Station0.2 miles
  • Newcastle Central Station0.6 miles
  • Manors Station0.9 miles

About Christie & Co, Pubs & Restaurants

Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

We’re the leading specialist advisor for buying and selling businesses in our sectors - hotels, pubs, restaurants, childcare, healthcare, convenience retail, leisure and medical.

If you’re looking to buy or sell a business in our specialist sectors – from a pharmacy in Sussex to a hotel in Austria – our expert advice and collaborative support will help you achieve your goals. You may be an independent first-time buyer or a multinational adding to your portfolio; either way, you’ll discover that our personalised service is focused on helping you achieve your ambitions.

Clients have access to our carefully managed network of potential buyers. This unique database of contacts has been continually developed by our advanced IT capabilities and benefits from both our years of experience developing our network and our wide geographical coverage.

Where we work

We employ the largest team of sector specialists in the UK and the largest group of hotel specialists in Europe, providing professional brokerage and advisory services from offices in major cities across Britain and Europe. And because we’ve been doing this for over 80 years, we know our sectors and local markets inside out. We work closely with our clients to guide and conclude transactions of any size, covering hotels, restaurants and pubs, leisure, forecourts and convenience retail businesses, social care and elderly care, childcare & education facilities, dental practices and pharmacies.

Our professional services

We offer unrivalled insight, experience and expertise across your choice of services, including brokerage, consultancy, finance, development, investment, surveying, rent reviews, dispute resolution, corporate valuation, and turnaround & recovery. These services are all underpinned by our in-depth market intelligence and leading-edge technology. And we’re accredited by the Royal Institution of Chartered Surveyors (RICS), so you can trust in our professionalism.

What makes us tick

Businesses are about people, so relationships matter to us. We bring an integrity and transparency to business which can be all too rare – and that’s why people trust us. Our clients will attest to our genuine desire to help achieve their objectives, our attention to detail, and our tireless hard work on their behalf. We understand that buying a business can bring its own pressures and strains; needs can change, plans may need to be adjusted, and opportunities can come and go. But we’re always here, a constant, flexible and reliable force you can count on.

Our opening hours for all offices:

Mon – Fri, 9am – 5.30pm

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 6450536-fh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co, Pubs & Restaurants. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.