Location:
The business is situated in the heart of the Shields Road shopping area which is the main retail district that serves the suburb of Byker, 2 miles east of Newcastle City centre.
Shields Road comprises a with a mixture of retail and commercial tenants with nearby occupiers that include Morrisons, Greggs and Iceland plus a wide selection of independent shops.
This former bank has a return frontage onto Shields Road and there are high levels of captive trade with passing trade supported by the free street parking to the rear.
Business:
This is a long-established mini market business which has been in the seller’s ownership for over 15 years but has been put on the market as they wish to concentrate on their other business commitments.
This is a traditional convenience store and off licence which has excellent levels of core business from the nearby residential occupiers. There are bus stops outside the business and the shop is also close to Byker Metro Station which can generate passing trade in the mornings.
This business represents an attractive opportunity for an owner operator with the benefit of captive and passing trade. Viewing is recommended to appreciate the location and the scope to extend the hours and generate additional income.
Premises:
Comprising the ground floor and basement of a former bank;
Ground Floor
Sales Area circa 1,000 sq.ft. (93 sq.m.)
Basement
Stores circa 410 sq.ft. (38 sq.m.)
2x W.C.’s
EPC:
Rating - TBC
Staff:
The business is currently operated by the owners with 1 member of staff.
Opening Hours:
Monday - Friday 7.30am - 8.00pm
Saturday 8.00am - 8.00pm
Sunday 8.00am - 2.00 pm
Scope to open longer hours
Tenure:
A new FRI lease is available at a commencing rent of £15,000 per annum with full terms to be agreed.
Legal Fees:
Ingoing tenant to be responsible for the landlord’s legal fees in the preparation of the new lease.
Rates:
The premises are assessed as follows:
RATEABLE VALUE £9,400
Rates free incentives subject to status.
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.
