Barry Faulkner and John Adamson, director of the Ramside Estates Group which includes the prestigious Ramside Hall Hotel and Golf Club in Durham, have joined forces to open a new and exciting bar and restaurant in Newcastle city centre, the second of its kind in the North East. Following a similar theme to the first venue, based in Norton, Teeside, the new Canteen & Cocktails pledges to mix the industrial North East with the American Deep South serving authentic American pit barbeque food and fantastic cocktails.
Under this latest venture they have invested around £500k to acquire and refurbish the premises of the former Oak restaurant in Milburn House on Dean Street, Newcastle-upon-Tyne and have created up to 40 jobs for the region.
To secure the business, Faulkner and Adamson took an assignment of an existing 20-year lease of the Milburn House premises, with 16 years of the term remaining. Swinburne Maddison LLP advised on all aspects associated with the assignment to ensure that the deal completed smoothly and in a speedy fashion.
Speaking about the deal, Commercial Property solicitor, Giles McCourt, said: “I was delighted to work on Barry and John’s behalf supporting them both in this latest venture and the growth of the Canteen & Cocktails chain by providing advice on all aspects of the Lease assignment. Their individual successes in the hospitality industry to date are such that I am confident Canteen & Cocktails will quickly become the go-to destination in Newcastle.”
