Tokyo, a five-floor nightclub on Westgate Road in Newcastle, has been sold in a deal worth more than £1m to Hymus Group, an expanding nightlife operator. The freehold interest was sold off an asking price of £1.1m, with property agents Christie & Co handling the sale.
Seller's plans and buyer's expansion
Paul Pringle, who has run Tokyo for the last 10 years, decided to sell to concentrate on his other venue, Alvino’s, on Pilgrim Street. He said: “When we bought Tokyo through Christie & Co in November 2016, we had a 10-year plan for the business. We're pleased to be handing it over in good shape and with tonnes of potential. We still have Alvino's on Pilgrim Street and its business-as-usual round there.”
Hymus Group, which opened its first bar in Newcastle, The Dubliner, in 2023, has since opened a second venue in York and re-branded the former Mushroom as Dirty Murphy’s. Managing director Daniel Van Hymus said: “We’re buzzing to take stewardship of one of Newcastle’s most iconic spaces. The acquisition takes us to four venues and opens new opportunities for the team, who continue to deliver special moments to thousands of customers every week.”
Venue details and market context
Tokyo has a licence until 2.30am, a capacity of five floors, a popular beer terrace, and is known for its cocktail menu and live DJ sets six nights a week.
Christie & Co commented: “Against a challenging backdrop for pubs and bars, it is encouraging that operators like Dan continue to see longevity in the sector. This is typical of what we are seeing in the wider marketplace.”
