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05 October 2020 | Restaurants

Popular sunderland restaurant reduces asking price

Specialist property business advisor, Christie & Co have reduced the asking price for D’acqua, a popular restaurant in Sunderland City Centre, from £150,000 to £75,000.

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The well-loved restaurant is situated on John Street and forms part of an established eating and drinking circuit. It has been operated by the current owners, Mr and Mrs Shadforth for several years and has built an enviable reputation during this time.

The business was closed during the COVID-19 lockdown, however since reopening trade has bounced back and average weekly sales have remained robust. The business has also introduced a take-away service which has proven incredibly popular with both new customers and their loyal clientele and is generating a good amount of revenue.

Mr Shadforth comments, “We have decided to reduce the price to try and facilitate a quicker sale, as we have a really exciting new project that we are looking forward to getting our teeth into, but it’s impossible to do that and run the restaurant at the same time. We took our time when re-opening after lockdown because we wanted to get it 100% right for our staff and our customers. We’re following the government guidance down to the letter and the feedback we’ve had from customers has been excellent. The take-away service we’re now offering has proven so much more popular than we thought – we deliberately kept it quiet and announced that we would start at 4pm on Friday 18th September and on that night we took 40 orders! Our customers feel completely safe and at ease when they dine with us and we’re proud of that.”

David Cash, Associate Director at Christie & Co is handling the sale and adds, “Many restaurant businesses still remain closed, or are trading at such a limited capacity that they aren’t profitable. Since reopening, D’acqua has come close to achieving pre-COVID levels of turnover without compromising on the quality of their offer.
“The reduction in price is no reflection on the performance of the business. To fit out/equip a restaurant of this quality would cost way in excess of £75,000 and so to offer a trading business with a huge amount of goodwill for sale at this level presents an incredible opportunity for a prospective buyer.”

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For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: bronte.hughes@christie.com
 
Contact the agent:
David Cash, Associate Director
P: +44 191 269 7025
E: David.cash @christie.com
 

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