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Tokyo

17 Westgate Road, Newcastle upon Tyne NE1 1SE
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Ref: 6450574
Freehold£1,100,000

Contact Our Agent

David Cash
David CashRegional Director (North) - Pubs & Restaurants
+44 7736 621 023david.cash@christie.com

At a glance

  • 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
View full details Tokyo
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Tokyo
17 Westgate Road, Newcastle upon Tyne NE1 1SE
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Ref: 6450574

Tokyo

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 a freehold 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

Freehold

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.