Freehold for popular Hartlepool restaurant Marco Polo up for sale
Specialist business property advisor, Christie & Co, has brought to the market the freehold interest in Marco Polo, as an investment.
The business will be unaffected and continue to operate as usual.
A popular Italian restaurant in Hartlepool town centre, the business holds a 4-star TripAdvisor rating and currently trades as an Italian restaurant, with a large open plan kitchen, decorated in a traditional Italian décor. Also included in the sale is a two-bedroom maisonette above the restaurant.
Christie & Co say it’s a great opportunity for a buyer looking to purchase an investment property with a long-term lease agreement of 20 years. The new owner will have a fixed rent increase included in the lease agreement, set to come into place in 2021, with further reviews on a 5-yearly basis.
Current owner Darab Rezai said: “I have had a long-standing relationship with Christie & Co for a number of years. They have a huge network of buyers and I am confident they are well placed to act for me in finding a buyer for this particular property.”
David Cash, associate director at Christie & Co, is handling the sale. He said: “We have seen strong appetite for investment properties in recent months and expect interest from a range of prospective purchasers. Any buyer should take comfort in the fact that the building has seen significant investment from both the landlord and tenant recently and is in very good condition throughout. The fact that the long-standing tenant has just signed a long-term lease should also give assurances that the business is performing well.”