Location
The premises are located within a pleasant and busy suburban shopping parade to the east of Gosforth in Forest Hall. The immediate area comprises good quality private housing and the parade includes a coffee shop, gents barbers and beauticians. Access is simple from Great Lime Road and Station Road and Cyclelogical is very much a destination business so the good road links are a major benefit.
Business
This is a very long established and reputable cycle repair and accessories business which was originally located in Jesmond before moving to the current site approximately 20 years ago after being acquired by the current owner.
The premises are laid out over 2 floors with an outdoor area that includes a workshop and storage space. The business is a Shimano Service Centre which is part of a pan European Network of Accredited Dealers which was set up by the current owner 30yrs ago when working Internationally for Shimano. It is also a Freewheel Partnership Store which was created by Madison plc to support independent dealers and was also set up by the current business owner. The Shimano accreditation is sought-after and the current owner would be willing to stay on for a period to offer training if necessary as he is a Cytech NVQ LIII trainer and Assessor and was instrumental in setting up the NVQ for Cycle Mechanics.
The business does not carry bikes in stock but these can be ordered and delivered to customers within 24hrs. There is scope to increase bike sales with a number of brands. The link to the Freewheel network would also allow a new owner to drive the retail offer beyond parts and accessories. The first floor space could easily be adapted into a showroom in order to accommodate more stock.
To the rear of the main building there is a secure repair workshop and some valuable designated parking.
Premises
Ground Floor circa 60 sq.m. (645 sq.ft.)
Retail Area
W.C.
First Floor circa 52 sq.m. (560 sq.ft.)
Store 1
Store 2
External
Fixtures & Fittings
A full inventory would be made available to bona fide purchasers prior to an exchange of contracts.
Trading Hours
Monday - Friday 9.30am – 5.00pm
Saturday 9.30am – 4.30pm
Sunday closed
Rates
The premises are assessed as follows:
Rateable Value £8,600 (2023 list)
Rates free incentives subject to individual status.
Tenure
The premises are held on a 3 year lease from March 2020. The current rent is £8,800 per annum and a new lease is available.
EPC
Rating C.
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.
