Florence Bar & Bistro in South Shields has been sold through Christie & Co to experienced operators in the sector.
The venue, which has been refurbished, is situated just off the busy Newcastle Road. It features an 80 cover dining area, 20-cover lounge and an extensive bar area with capacity for up to 150 standing or 70 seated guests.
There is a garden terrace at the back of the venue 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, commented, “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, who handled the sale, said, “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.”