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Convenience / Off Licence

Newcastle upon Tyne £85,000 Leasehold (fees apply) REF: NE1428

Location:

Heaton is a very popular residential area located circa 2.5 miles from Newcastle City Centre and the shop forms part of a very busy secondary shopping area.  Nearby occupiers include Greggs, TSB bank and Domino pizza together with a number of independents. 

The property has a prominent return frontage at the junction of Chillingham Road with Rothbury Terrace and forms part of a busy terrace which includes a Fish & Chip shop and Barbers. There are extremely high levels of both passing and captive trade and there is free pull in parking to the front.

Business:

This is a long established mini market business which has been in our client’s ownership for over 10 years but has been placed on the market as they wish to pursue another business venture outside the area.

This is a traditional convenience store and off licence which has excellent levels of core business from the nearby residential occupiers. Heaton comprises a pleasant mix of retail and residential accommodation and is home to a pleasant mix of students, young professionals and families.  The shop has an external ATM which is maintained by the installer and generates circa £180 per month.   

This business represents an attractive opportunity for an owner operator with the benefit of excellent levels of captive and passing trade.  Viewing is recommended to appreciate the excellent retail location.

Premises:

Comprises the ground floor retail premises which forms part of an end terrace two storey property.

Opening Hours:

Monday - Friday        6.00 am - 10.00 pm

Saturday & Sunday   8.00 am - 10.00 pm

Staff:

The business is currently operated by the owner plus 1 full time and 2 part time members of staff.

Tenure:

The Leasehold option is available at an asking price of £85,000 with an asking rent of £18,000 per annum.  Full terms to be agreed.

The property is also available at an asking price of £375,000 - for the Freehold interest, goodwill, fixtures & fittings.  This option would include the 4 bed flat above. 

Rates:

We are verbally informed that the premises are assessed as follows:  

RATEABLE VALUE    £15,000

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.

If you'd like to know more about how we work, give us a call on 0191 487 8566, we're always happy to help.

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