Location
The premises are located on Park View which is a thriving independent shopping area just to the west of the main town centre. This is now a sought-after retail and leisure district with a pleasant mix of independent traders that include coffee shops, jewellers, micro pubs and artisan food outlets such as bakers and butchers.
Whitley Bay has enjoyed some significant investment over the last 5 years and this has included the building of a Premier Inn on the seafront and the rerouting of roads which has subsequently improved traffic flow.
Business
This is a very long-established furniture, cards, gifts and accessories retailer which has been trading from this site for almost 15 years. There are extremely high levels of both footfall and passing traffic along Park View and access is easy with free on street parking directly outside the shops.
With such an established trading history, this business has built up a strong local reputation and enjoys a loyal customer base with plenty of repeat custom. The business stocks high quality products from national suppliers, some of which the business has exclusive local rights over, and there is also a bespoke website.
Items sold include bedroom, dining room and lounge furniture plus smaller complementary items including lamps and soft furnishings. There is also a range of smaller items available that include cards, gifts and wall art.
This is a rare to the market opportunity and would suit a couple or partnership to drive forward. Viewing is recommended to appreciate the scope available.
Premises
The premises comprise a ground floor lock up retail unit with return frontage. Accommodation;
Accommodation;
Ground Floor;
Sales Shop 69m2 750ft2
Garage / Store 25m2 270ft2
W.C.
Staff
The business is operated by our client with the help of 1 part time member of staff.
Fixtures & Fittings
A full inventory would be made available prior to an exchange of contracts.
Rates
The premises are assessed as follows:
Rateable Value £8,300 (from April 2023)
Rates free incentives subject to individual status.
Tenure
The premises are held by way of a 3 year FRI lease from 2021. The current rent is £11,000 per annum with no further reviews. Interested parties should seek legal confirmation of this.
EPC
Rating - D
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.
