“Pioneering” Sunderland pan-Asian restaurant put on market for six-figure sum

A pan-Asian restaurant in Sunderland with panoramic views over Wearmouth Bridge and the surrounding coastline has been put on the market by its owner, who wishes to “explore other opportunities” after running the business for more than 15 years.

Proprietor Ian Wong has asked Blacks Business Brokers to find a new owner for Asiana Fusion, with a guide price of £475k to take over the business and the leasehold premises from which it operates. The premises also carry rent of £56k per year.

Ian established Asiana Fusion in 2008, alongside a consortium of investors. He and his two current business partners later bought out their co-investors and, having run the business for 16 years, now wish to capitalise on their investment and explore other opportunities outside the catering industry.

Mr Wong is originally from Manchester where, as a young man, he worked at his father’s Chinese restaurant. He first moved to Sunderland as a student and, after several years away, returned and identified an opportunity to make a contribution to the city’s dining scene, which at the time was dominated by Italian and Indian offerings.

The resulting restaurant, Asiana Fusion is located on the ground floor of the landmark Echo Building on West Wear Street. It enjoys panoramic coastal views which diners can take in through floor-to-ceiling glazing. The restaurant has a modern décor, a central bar and seating for 180 diners. Its kitchen has been fitted out with a range of high-end equipment.

Asiana Fusion, which serves a menu inspired by the flavours of East and South East Asia, turned over almost £710k in its most recent financial year. It employs 25 members of staff, five of whom are full-time.

The business launched a takeaway service during the Covid lockdown which has proved very successful. Ian said that, were he not planning to sell, he would also consider branching out into outside catering and building on the Asiana brand to open a variety of smaller venues around the region.

According to Ian a new owner would need to have “plenty of drive” and some experience in the catering trade, although the restaurant’s experienced staff would be able to make the transition as smooth as possible.

Grace Court, customer service executive at Blacks Business Brokers, commented: “Asiana Fusion was a pioneering business when Ian launched it 16 years ago. Now it is a popular, profitable mainstay of the city’s dining scene, with arguably the best views in Sunderland and, according to its customers’ reviews, food to match.

“A new owner will have big shoes to fill but the restaurant has a strong, well-established team and, with the added benefits of a fantastic location, an excellent reputation and a loyal clientele, it presents an amazing opportunity.”

By Matthew Neville – Correspondent, Bdaily