Location
The premises are located on Park View which is a very popular independent shopping area just to the west of the main town centre. This is now a sought-after retail and leisure district with a pleasant mix of independent traders that include coffee shops, jewellers, micro pubs and a very popular butcher directly opposite our unit.
Whitley Bay has enjoyed some significant investment over the last 5 years and this has included the building of a Premier Inn on the seafront and the rerouting of some of the roads which has improved traffic flow.
Business
This is a very long-established cards and gifts shop which has been trading from this site for over 25 years and in the present owner’s hands since 2010. There are extremely high levels of both footfall and passing traffic along Park View and access is easy with free on street parking directly outside the shops.
With such an established trading history, this business has built up a strong local reputation with high levels of repeat custom. The business stocks high quality products from national suppliers and owing to these longstanding relationships, the shop has protected territories with some suppliers.
In addition to the traditional cards the shop also retails a range of accessories and some jewellery and is a well-established stockist of luxury Belgian chocolates. The shop also stocks a wide range of balloons and these can be inflated on site.
This business is in an excellent position with return frontage onto Park View and viewing is recommended to appreciate the potential scope for further growth.
Premises
The premises comprise a ground floor lock up retail unit with return frontage. Accommodation;
Accommodation;
Ground Floor;
Sales Shop 44m2 475ft2
Small Store
W.C.
Staff
The business is operated by our client with the help of 2 part time members of staff.
Fixtures & Fittings
A full inventory would be made available prior to an exchange of contracts.
Rates
The premises are assessed as follows:
Rateable Value £7,600 (from April 2023)
Rates free incentives subject to individual status.
Tenure
The premises are held by way of a 5 year FRI lease from August 2021. The current rent is £7,500 per annum with no further reviews. Interested parties should seek legal confirmation of this.
EPC
Rating C
Money Laundering Regulations:
In accordance with the current Anti-Money Laundering Regulations the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.