Bar, restaurant & events venue in South Shields sold through Christie & Co
Specialist business property adviser, Christie & Co has sold Florence Bar & Bistro in South Shields to experienced operators in the sector.
The characterful property has been refurbished to a high and modern standard by the landlords and occupies a substantial and prominent site set just off the busy Newcastle Road. Trading as a bar, restaurant and events venue, Florence Bar & Bistro comprises an 80 cover dining area, 20 cover lounge and an extensive bar area with capacity for up to 150 standing or 70 seated guests.
Externally, there is even more space for guests with a garden terrace to the rear of the property with seating for 40 and a lawn area with children’s play equipment. With the sizable garden space, the venue is ideal for hosting outdoor events.
The landlord, who owns the freehold interest of the site and several other properties in the North East which also trade as bar and bistro businesses, comments, “We are pleased that we originally purchased the site, which previously operated as the Simonside Arms, to prevent it from being acquired by developers and it has been brought up to such a fantastic standard, which will serve the community for many more years to come. We wish the new proprietors all the best!”
Having recently bought a restaurant in Newcastle through Christie & Co, the new owners were keen to make a second acquisition in the area and decided to purchase the leasehold of Florence Bar & Bistro. They plan to utilise their extensive experience in the sector, having owned over a dozen restaurants in the past, and continue to build the business’ multiple income streams.
David Cash, Senior Business Agent at Christie & Co handled the sale and comments, “The sale of Florence Bar & Bistro highlights the strong demand for businesses that have depth and security via multiple income streams. Food, beverage and function trade make this a robust business and the location and outside seating capacity means there is potential for growth for the new owners, who we are sure will drive the business even further.”