Tokyo, 17 Westgate Road, Newcastle upon Tyne, NE1 1SE

£200,000

Size

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Tenure

Leasehold

EPC

Parking

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Primary use
Bar or nightclub

Key features

  • Iconic, long-established venue
  • Part of busy licensed circuit
  • Standing capacity 320 & 2.30 am license
  • Current avg weekly turnover c.£15k net of VAT
  • Five storey, prime city centre premises
  • External terrace | EPC Rating B
  • Annual rent: £85,000
  • Christie & Co Ref: 6450574

Description

Description

Tokyo has been trading since 2004 and has been a stalwart of the city's leisure scene for two decades.

A sophisticated, late night cocktail bar, boasting an impressive, innovative menu and offering live DJ's six nights a week as well as the most famous beer terrace in the city.

Location

Tokyo is situated on Westgate Road, in the heart of the city centre.

Newcastle Central Station - 0.2 miles
Collingwood St - 100 yards
Bigg Market - 0.2 miles
Grey St - 0.3 miles
Greys Monument - 0.4 miles
Pilgrim St - 0.3 miles
Quayside - 0.5 miles
St James' Park - 0.6 miles

Internal Details

Basement - Beer cellar & customer toilets
Ground floor bar - c.60 seated plus vertical drinking
First floor bar (inc. beer terrace) - c.60 seated plus vertical drinking
Second floor - storage
Third Floor - offices
Fourth floor - attic

Please refer to floor plans for further breakdown

Fixtures & Fittings

We are advised that all fixtures, fittings & equipment are owned outright and will be included in the sale, subject to an inventory.

The Opportunity

The sale presents a rare opportunity to acquire a business premises with the benefit of a late license, on either a freehold or leasehold basis.

Tokyo is available as a going concern, but the opportunity is equally well suited to an operator looking to acquire a site for their own brand.

Trading Information

Accounts for year ended March 2025 show a net turnover of c. £700,000, producing an Adjusted Net Profit of c. £168,000.

Full accounts can be provided to seriously interested and proceedable parties upon request,

Trading Hours

The business currently trades from 7pm - 2am Tuesday - Sunday and is closed on a Monday.

Tenure

Tokyo is available on both a freehold and leasehold basis, and the sellers may consider a lease with an option to purchase.

Freehold: £1,275,000

Leasehold: Premium - £200,000 (to include all fixtures & fittings along with business goodwill, if appt)
Asking Rent - £85,000 per annum

- Minimum 10 year lease
- Full repairing & insuring terms
- Covenant strength/security is extremely important to the sellers and only experienced operators with a track record will be considered

Business Rates

The current Rateable Value, as per April 2023 ratings list is £87,000. Confirmation of actual rates payable should be sought from the Local Authority, Newcastle City Council.

Regulatory

The site benefits from a robust premises license (very difficult to obtain in Newcastle), offering the sale of alcohol for retail from 10am til 2am and Late Night Refreshment til 2.30am. A full copy can be provided upon request.

Additional information
Service charge
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Business rates
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Use class
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Listed building
No
Business for sale
Yes
Leasehold: Ask agent
Tenure
Leasehold
Length of lease
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Energy performance certificate: B

An Energy Performance certificate helps you understand the current energy efficiency of a property.

Read more about EPC requirements

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Environmental data
BREEAM rating
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Environmental description
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Read more about energy considerations for commercial property

Tokyo, 17 Westgate Road, Newcastle upon Tyne, NE1 1SE

NEAREST STATIONS

National Rail
London Tram

Newcastle Central Station

0.14 miles

London DLR

St James Station

0.45 miles

National Rail
London Tram

Manors Station

0.48 miles

About Christie & Co, Pubs & Restaurants

Christie & Co, Pubs & Restaurants

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

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Disclaimer - Property reference 6450574-lh. 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.