Restaurant in Newcastle city centre changes hands through Christie & Co
Specialist business property adviser, Christie & Co has sold the leasehold interest of Prima Ristorante, situated in the Quayside area of Newcastle upon Tyne to an experienced father and son operator team.
Prima Ristorante occupies a three-storey property in the centre of Newcastle, trading for up to 250 covers across the ground and first floor, and forms part of the established licensed circuit in the city with some of its most popular bars and restaurants. With part of the dining area sitting under the railway arches, the venue features high vaulted ceilings, creating a unique look and atmosphere which is popular with customers.
The business was purchased by father and son team, Mr Polat Akicek and Mr Josh Akicek, who have between them owned and operated a number of restaurant businesses in the past and reside in York. Mr Akicek used to live in Newcastle and has always had a fondness for the city, making it a clear location of choice for their next venture together. They comment, “When David brought Prima to us we saw it as a great opportunity to pick up a well performing business with huge potential for growth. The fact that it was well managed with a full complement of staff was a huge benefit and they’ve been extremely helpful in the transition. It’s business as usual as far as the restaurant is concerned and we look forward to welcoming customers old and new.”
David Cash, Senior Business Agent at Christie & Co who handled the sale, comments, “Christie & Co was instructed by the freehold owner and business operator to find a suitable tenant and to create a new lease. The opportunity attracted interest from a range of prospective tenants including national chains and was ultimately let to an experienced restaurant operator from outside of the region.
“Despite the huge influx of new bars and restaurants that have entered Newcastle over the last 24 months, the appetite from new entrants and expanding multiple operators remains strong for the right sites. The corporate ‘shopping centre’ environment has its place, but operators and consumers alike are still looking for individuality and sites that offer something different.”