Reading: Pie shop and restaurant on market for £1.5m
Award-winning pie shop and restaurant Sweeney & Todd, in Castle Street in the heart of Reading town centre, has been brought to the market through specialist business property adviser Christie & Co.
The four-storey property comprises a ground floor pie shop and servery area with a 32-cover bar and 50-cover restaurant, whilst the basement provides further dining space for an additional 64 covers. With low beams and concealed nooks, the building retains many of its unique, original features, demonstrating its rich history. The two upper floors, currently used for storage, provide further opportunities to be utilised as additional trading space or converted into residential accommodation, subject to planning permission.
Only a couple of minutes’ walk from The Oracle shopping centre and Reading station, the restaurant benefits from a prominent site and enjoys a high level of footfall from visiting and passing trade, plus a loyal local following.
Having been trading under the same ownership for almost 40 years and as one of Reading’s oldest restaurants, Sweeney & Todd has an enviable reputation and prides itself on its award-winning freshly baked pies, which are all made on the premises.
Current owners Craig and June Hayward are looking to retire after 40 years in the business and commented: “We have hugely enjoyed our time at Sweeney’s but now want to slow things down a little and spend more time with our families. We look forward to seeing the next chapter in the life of the property and are sure that a new owner would be very successful here.”
Tim Widdows, business agent at Christie & Co’s Reading office who is handling the sale, commented: “Sweeney & Todd is a fantastic property that is well known in Reading and has been serving people delicious food for many years. The owners are saddened to retire but the building and business provides an excellent opportunity for either an owner/operator to continue running it, or a commercial investor, providing a lucrative return if converted to a mixed use commercial/residential site.
“A vibrant and affluent town, Reading is continually growing with extensive investment in the town centre and station, which will be finalised next year with the addition of a Crossrail, making it an ideal location for entrants to the local property market.”
Christie & Co is seeking £1,500,000 for the freehold interest.
