Location
The business is located within a prominent parade at the junction of Red Hall Drive with Coast Road in the pleasant residential district of Cochrane Park. This suburb is approximately 3 miles due east of Newcastle City centre and easily accessed from the A1058.
Business
The premises have operated as a hot and cold sandwich bar for over 25 years and our client has been operating the business since 2019.
The premises are in excellent order with a wide range of fixtures and fittings and are configured to provide a service and waiting area to the front with prep and kitchen facilities to the rear.
The shop offers traditional snack bar fare with a range of hot and cold sandwiches and drinks but in addition there are a range of “specials” in the form of meals such as lasagne and cottage pie. This is a popular offer, particularly during the winter months, and the shop also operates a very successful Sunday lunch service.
The business has a loyal customer base and there are good levels of captive and passing trade. The current owner does not offer a delivery service and this is something that could be introduced by a new owner, particularly as there are a number of industrial estates nearby.
This is a rare opportunity to the market and would be an ideal opportunity for a couple to develop further and drive forward.
Premises
Comprises a ground floor lock up retail unit.
Ground Floor
Sales Shop 296 sq.ft. (28 sq.m.)
Storage 77 sq.ft. (7 sq.m.)
Kitchen 122 sq.ft. (11 sq.m.)
W.C.
Current Trading Hours (permitted 5am - 11pm)
Monday - Saturday 7.30am - 2.30pm
Sunday 11.00am - 3.00pm
Staff
Operated by our client with the help of 3 part time staff.
Fixtures & Fittings
The fixtures and main items of equipment form part of the premises. A full inventory would be made available prior to an exchange of contracts.
Services
Mains electricity, gas, water and sewerage services are connected to the property.
Rates
The premises are assessed as follows:
Rateable Value £5,800
Rates free incentives subject to status.
Tenure
We are verbally informed that the premises are held on a 20 year lease from 2019 with 5 yearly rent reviews. The current rent payable is £895 per month (£10,740 per annum). Interested parties should seek legal confirmation.
EPC
Rating - E
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.
