Location:
This business forms part of Tynemouth Station which is located at the western end of the town centre and adjacent to Kings Priory School.
Tynemouth appears repeatedly in lists of the “Best Places to Live” in the North East and the attractive coastal location and proximity to Newcastle upon Tyne make it easy to understand why. There are excellent road and rail links to and from the town and the local population is a broad demographic that includes young professionals, families and older or retired couples.
Business:
Tynemouth Station opened in July 1882 and we suspect that there has been a news stand or shop on the concourse since that date. The station now forms part of the Metro network which opened in 1980 and the business has been placed on the market as our client wishes to retire.
The shop is a traditional CTN & Lotto outlet but also stocks a range of sandwiches and sells “grab and go” coffees. As you would expect, the majority of the trade comes from the Metro passengers but they comprise a broad range of customers and include commuters, students and day trippers when the weather is good.
The shop is licensed to sell alcohol but the current owners do not take full advantage of this consent as the shop tends to close at around 6pm. Weekends are very busy as there is a market on both a Saturday and Sunday and this draws additional visitors to the site.
This is a rare to the market business opportunity ideal for owner operators to grow. The hours can certainly be extended and some additional lines could be added.
Premises:
Comprising a ground floor lock up unit.
Ground Floor
Sales Area circa 275 sq.ft. (26 sq.m)
Stores circa 65 sq.ft. (6 sq.m)
Kitchen / Store
W.C.
Staff:
The business is operated with family members.
EPC:
Rating – tbc
Current Opening Hours:
Monday - Sunday 7.00 am - 6.00 pm
The shop opens later in the summer months.
Tenure:
The premises are held on a 30 year lease from 2000. The current rent is £750 per month (£9,000 per annum) and there is a small service charge payable.
Rates:
We are verbally informed that the premises are assessed as follows:
RATEABLE VALUE £2,900
Rates free incentives subject to individual 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.
