Location:
This business forms part of the main high street which comprises a pleasant mix of niche independent shops, cafes and restaurants. Tynemouth repeatedly features in lists of the “Best Places to Live in the North East” and the attractive coastal location and the 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. Tourists visit the area throughout the year but peak in the school holidays, particularly in the summer months.
Business:
This is an established business which was opened by the current owners in 2018, concentrating on quality. The shop was a gift shop prior to 2018 and a high end ladies fashion retailer for many years before then.
This shop offers a range of high quality gifts, homeware and accessories that include brands such as Barts Amsterdam, Stoneglow, Zoe Emma Scott, Peace of Mind, Allice Wheeler and Life Charms. The business has the benefit of regional exclusivity with these brands and this helps drive customers to the shop from outside of the immediate geographical area.
Additional trade is generated by tourists and the high number of visitors to the area and there is also potential to raise the profile of the website and drive sales via the ecommerce platform.
This is a rare to the market business opportunity in a highly sought after location with scope to grow in a variety of directions.
The premises are in excellent order with little for any new tenant to attend to and viewing is strongly recommended to appreciate the whole package.
Premises:
Comprising a ground floor, split level, lock up retail unit.
Ground Floor
Sales Area circa 1,250 sq.ft. (115 sq.m)
W.C.
Staff:
The business is currently operated by the owner with additional part time members of staff.
EPC:
Rating - B.
Opening Hours:
Monday - Friday 11.00am - 5.00pm
Saturday 10.00am - 5.00pm
Sunday 11.00am - 4.00pm
Tenure:
The premises are held on a 3 year lease from 2024 at a rent of £21,600 per annum. We are verbally informed that a new lease can be negotiated with the landlord, subject to consent.
Rates:
The premises are assessed as follows:
RATEABLE VALUE £18,500
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.
