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Earl of Pitt Street

70 Pitt Street, Newcastle Upon Tyne, United Kingdom NE4 5ST
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Ref: 6450536
Freehold£375,000

Contact Our Agent

Marslie McGregor
Marslie McGregorSenior Business Agent - Pubs & Restaurants
+44 7813 072 460marslie.mcgregor@christie.com

At a glance

  • Prime City Location
  • Vacant Possession
  • 85+ Covers
  • Turn Key Opportunity
  • Fully Licensed
  • Energy Rating B
View full details Earl of Pitt Street
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Earl of Pitt Street
70 Pitt Street, Newcastle Upon Tyne, United Kingdom NE4 5ST
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Ref: 6450536

Earl of Pitt Street

Description

Prior to closing the Earl of Pitt St had a strong following and was renowned for its excellent food and great pints. Highly rated on TripAdvisor it was one of the best bar/restaurants in Newcastle upon Tyne. A stones throw away from St James' Park, home to Newcastle United, the pub was 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.

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 innovation district in the heart of the city. Newcastle University Business School is also located nearby. With many public transport links close by, the nearest Metro Station is St James Park (19 minute walk) with the Newcastle Station approximately 0.5 miles away.

Internal Details

Ground Floor A bar area with seating comprising a mixture of sofas, tables and chairs for c.35 covers. First Floor 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 WCs.

The Opportunity

The Earl of Pitt Street presents a fantastic opportunity for an owner operator to re-open the well renowned pub and re-establish trade. Equally, it could prove a solid acquisition for an expanding regional operator looking to grow their portfolio.

Trading Information

We have been advised that prior to closing in early April 2025, turnover for year end November 2023 was c.£618k net of VAT, with year end November 2024 turnover being c.£700,000 net of VAT. Average annual barrelage (excl. guest ales, wine etc) c.135 Barrels

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