An independent city centre café and bar close to Newcastle's Theatre Royal is up for sale.
The leasehold for Société, which was opened a year ago on Grey Street, is on the market for £65,000 as its current owner is relocating. Located next door to to Cafe Andaluz tapas bar and Greggs on the edge of Central Arcade, the venue offers about 16 covers inside and 12-16 outside covers on pavement seating.
Agents at Wallsend-based North East Commercial say the business, held on a five year leasehold from 2022, generates annual turnover of £286,000 with weekly sales of between £4,500 and £5,500. Since its launch in May 2022 the eatery has been serving coffees, breakfasts and lunches to shoppers and commuters, as well as pizzas and cocktails for night time visitors.
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A listing for the business says it was refitted as recently as 2021 to an "extremely high standard" by the current operator, who runs it with the help of three full time staff. Rent for the 331 sqft venue is said to be £31,000 per year, plus VAT and service charges.
Within an advert for the business, North East Commercial said: "The premises were reconfigured to provide a service and prep area to the rear with a range of internal seating for approximately 16 covers and there are 12/16 covered external covers. The menu offers predominantly continental style food including hot and cold sandwiches, salads, pizzas, cakes and drinks.
"The coffee offer is popular all day but the food offer changes throughout the day with breakfast, lunch and afternoon options. There is a full extraction unit fitted and the premises is allowed to sell both hot and cold food. There is also a late evening menu which concentrates more on small plates which complement beers and wines."
It added: "The business is well supported by regulars and there are high levels of both passing and captive trade generated by the city centre location. The business is also becoming popular with the large number of students in the city and there are new developments taking place nearby which include a hotel within the former Police Station and the development of the new HMRC office building."
Before becoming Société, the venue was home to Di Marco's sandwich and coffee shop. The current owners trade from 9am to 8pm Sunday-Thursday, and 9am to 9pm on Fridays and Saturdays.
