Kennedy’s Bar and Restaurant and Sotano Tapas Bar, in Little Stonegate, have been put up for sale.
The freehold, business goodwill, fixtures and fittings are available for offers in the region of £2.95 million.
A sale of the business on a leasehold basis would also be considered, a company spokesperson said.
Karen Waugh has run the businesses in the 6,000 sq ft building, which is owned by her family, for more than two decades.
But she said “all good things must come to an end” and is now looking to “pass the building and successful businesses and brands to new owners”.
“I am extremely proud of the success we have achieved over this time, building two fantastic brands, a diverse and loyal customer base of local people for socialising and dining, as well as being a popular and well-regarded choice for visitors to the city.”
Kennedy’s serves guests on a separate level to Sotano and has continued to trade profitably “despite the wider market conditions and is run by a well-established, dedicated and talented team”, the company spokesperson said.
The venue can accommodate more than 250 covers.
‘Outstanding and rare opportunity’ to acquire ‘exceptional property’
Colenso and Stephensons have been appointed to jointly market the property.
James Ratcliffe, partner and head of commercial agency at Colenso, said: “This is an outstanding and rare opportunity to acquire the freehold of an exceptional property and business operating under two distinct and successful brands within the same building.
“Karen, her family and team have done an amazing job building two brilliant brands and an impressive reputation for a top quality food and beverage offer, and a fantastic day-to-night experience for all.
“Any purchaser will experience a seamless transition to ownership and continued operation of a business that has enjoyed a strong trading history since its establishment and delivers an average turnover of more than £2 million per year with an adjusted net profit of around £400,000.”
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Elliot Newby, associate partner and head of commercial agency at Stephensons, added: “York has continued to outperform other leading locations with latest data from Northern Bar & Restaurant, in partnership with CGA NielsenIQ, showing it beat the national average sales growth among managed pubs, bars and restaurants in 2024.
“We expect this trend to continue as we progress through 2025 and beyond, offering positive opportunities for investment in property and hospitality ownership and management.
“Kennedy’s and Sotano are thriving operations situated within an impressive building in a highly sought after location and we expect strong levels of interest from a wide variety of potential purchasers.”
For more information, contact James Ratcliffe at jr@colensoproperty.com and Elliot Newby at elliot@stephensons4property.co.uk.
