Earl of Pitt Street, 70 Pitt Street, Newcastle Upon Tyne, United Kingdom, NE4 5ST
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- 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
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:
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.
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.
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 areasCommercial grade kitchen, cellar, cold room, storage, office as well as customer WC's.
The OpportunityThe 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.
The business is currently operated under management and a strong team.
Trading InformationWe 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.
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
The Rateable Value as of 1 April 2023 is £33,500. Confirmation of actual business rates payable should be obtained from the Local Authority.
RegulatoryPremises Licence
Energy Performance Certificates
EPC 1Brochures
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
Notes
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.
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