This opportunity is situated within the expanding town of Pegswood which lies just to the east of Morpeth, approximately 16 miles north of Newcastle upon Tyne.
Access is straightforward from the A1 or A189 Spine Road and this location is reflected by the number of residential developments in and around the immediate area. Nearby Morpeth is a popular market town with an excellent infrastructure and a mainline railway station.
This is a well-established business which has been trading from the centre of the village for a number of years, but under the current ownership for the last 5 years. The owner is considering a sale as he wished to concentrate on another business venture in Newcastle.
The business operates as a traditional convenience store and off licence with strong levels of alcohol sales which help strengthen the profit margin. The first floor attic space provides useful storage space and there is scope to expand on the lines currently sold. With the steady increase in numbers of new housing and local population, there is potential to introduce the sale of newspapers and offer deliveries.
The shop has strong levels of captive trade and passing trade from the main road is supported by the designated parking to the front and side.
Comprises a self - contained retail unit with storage space to the first floor. Accommodation;
Sales Shop – approximately 57.5 sq.m. (619 sq.ft.) with chillers, shelving, dairy chiller, sales counters, cash register, ice cream freezers, Coca Cola chiller and an Ice Blast chiller.
First Floor Attic space
Stores circa 15 sq.m. (161 sq.ft.)
Rating - TBC.
Fixtures & Fittings
A full inventory would be made available prior to an exchange of contracts.
The business is operated by our client (currently 15 hours per week) with help from 3 members of staff.
Monday to Sunday 8.00 am - 9.00 pm
The premises are currently assessed as follows:
Rateable Value £3,650
Rates free incentives available subject to status.
The premises are held by way of a 12 year lease at a passing rent of £5,252 per annum. There is the option of a new lease being available, if preferred.
Money Laundering Regulations
In accordance with the current Anti - Money Laundering Regulations the Purchaser / Tenant will be required to provide two forms of identification and proof of the source of income.