Location
The business is located within Princess Square which is in the heart of the City Centre, just off the main shopping district and Northumberland Street.
The barber shop forms part of a parade that forms the ground floor of a larger block that is currently office accommodation but is soon to be converted into flats.
On the opposite side of the Square is the Newcastle Central Library and there is also talk of the popular Sambuca restaurant chain coming onto the Square.
Business
This is a long-established and reputable business which was opened 10 years ago by our client who now wishes to reduce his work commitments.
The premises are in good order and are currently configured to provide a waiting area together with 6 chairs, a backwash and a reception desk.
The business is ideal for an owner operator and the central location provides strong levels of captive trade. There is currently a large amount of investment taking place within the City which includes new office developments at Bank House and the Odeon. HMRC are already committed to the Odeon site and this is expected to open around 2027 with up to 9,000 staff on site.
This business provides an opportunity from either an owner operator perspective or a managed opportunity which could deliver income. Viewing is recommended to appreciate the location and the further scope that the business offers.
Premises
Retail unit forming part of a larger block.
Ground Floor
Barber Shop
Kitchen to the rear off the service corridor.
Toilets communal within main building
Fixtures & Fittings
A full inventory would be made available prior to an exchange of contracts.
Staff
The business is operated under management with 6 members of staff. The seller can manage the number of staff that can be transferred.
Trading Hours
Sunday & Monday closed
Tuesday - Thursday 9.00am - 6.30pm
Friday 9.00am - 8.00pm
Saturday 8.00am - 4.00pm
Rates
The premises are assessed as follows:
Rateable Value £10,000
Rates incentives subject to status.
Tenure
We are verbally informed that the premises are held on a 10 year lease from 2017 with a current passing rent of £19,600 per annum plus VAT.
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.
