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13 Nov 2008
Ref: New779
Christie + Co sells lease of Le Normand restaurant in Newcastle
64/6886 Le Normand
The Newcastle office of leading international restaurant agents, Christie + Co, is pleased to announce the leasehold sale of Le Normand French restaurant in Low Friar Street, Newcastle-upon-Tyne, to Chinese restaurant operators.
The 82-cover restaurant trades from the ground floor of a mid-terraced, two-storey property at 52-54 Low Friar Street, which runs adjacent to the Gate complex and only a five minute walk away from the Centre for Life and Newcastle railway station.
Brent Smithson of Christie + Co’s Newcastle office, comments: “Our clients, Tony and Claire Elwell, had owned Le Normand for three years and have sold the lease of the premises in order to concentrate on their chain of Tapas restaurants. The purchasers are Kit and Karen Lau from Gosforth, experienced operators who own several other Chinese restaurants. They are currently sourcing some authentic fixtures and fittings from Hong Kong. The sale of Le Normand is further evidence that, despite the challenging economic climate, good quality restaurant premises in prime locations continue to attract buyers.”
Le Normand was sold for an undisclosed figure after Christie + Co sought £80,000 for the remaining 22 years of the current 25-year lease, with a current annual rent of £21,000.
For more information contact:
Brent Smithson (Negotiator)
(+44 (0) 191 222 1740)
Brent.Smithson@christie.comVicki Davey (Media Relations Officer)
Press Office (+44 (0) 1908 350580)
Vicki.Davey@christie.com
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