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Convenience Store

South Shields £249,500 Freehold REF: NE1257

Location

The property is located within a busy secondary shopping area close to the town centre and to the junction of Westoe Road with Laygate and Fowler Street. The immediate area comprises a mixture of retail, office and residential housing but the seafront and parks are within easy walking distance. There are good levels of both captive and passing trade and there are bus stops outside the shop and a school nearby.

Business

This opportunity comprises a long established business which has been in the clients’ ownership for almost 30 years but is being placed on the market as they wish to retire. The premises offer a spacious retail area that has been extended to incorporate additional storage space and that is fully fitted and equipped for the trade.  There is very little for any new owner to attend to on takeover.  There are high levels of captive trade from the local residents, workers and other local shop occupiers but the busy main road also generates a certain level of passing trade, particularly as there is free on street parking nearby and a number of bus stops. The shop has an external ATM and is also a Paypoint and Lotto outlet, all of which generate commission and also draw additional customers into the shop.

To the upper floors there is a very pleasant maisonette which could be suitable for either owner occupation or could be let out to provide rental income should a new owner prefer. Viewing is recommended to appreciate this rare opportunity and the available residential accommodation.

Property

Comprises a mid-terraced three storey property with ground floor retail shop and a separate residential dwelling above.

Ground Floor                      

Retail Area           64 m²  (690 ft²) with scope to increase.

Stores                   6.2 m²  (174 ft²) with rear access.

W.C.

First Floor (living accommodation with separate access)

Lounge                  5.0m x 3.45m plus 1.96 x 3.2m

Diner                      3.12m x 1.95m

Kitchen                 4..42 x 3.8m

Bathroom             fully fitted with bath and shower

Bedroom              4.54m x 3.5m

Second Floor

Bedroom              3.42m x 3.18m (max)

Bedroom              3.55m x 2.95m (max)

W.C.

EPC

Ratings TBC

Financial Information

This will be provided to interested parties by our client once a formal viewing has taken place.

Trading Hours

Monday – Friday                  7.00 am – 9.30 pm

Saturday - Sunday               8.00 am – 9.30pm

Staff

The business is currently run by our client with the help of family members and 2 part time staff.

Services

Mains electricity, gas, water and sewerage services are connected to the property.  There is an internal and external CCTV system and access to the rear garage is via an electric roller shutter door. 

Rates

The property is assessed as follows:

Rateable Value    £5,500

Rates free incentives are available subject to status.

Tenure

Freehold.  The asking price for the goodwill, fixtures, fittings and freehold interest is £249,500 plus stock.

 

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