Location:
Wideopen is a pleasant and expanding residential suburb located approximately 5 miles north of Newcastle just off the A1. The business forms part of a fully occupied retail parade with a range of occupiers including a coffee shop, hardware shop, beauty salon and a vets practice.
All the occupiers have the benefit of unrestricted pull in parking to the front and there is also on-street parking in the surrounding private residential estate.
Business:
This is an extremely long-established newsagent business which has been in our client’s ownership for close to 30 years. The business has been placed on the market as our client wishes to retire.
The shop is a traditional CTN and carries a wide range of stock including an extensive range of greetings cards. The business is an attractive opportunity for an owner operator and there is scope to extend the trading hours or introduce additional services such as paper deliveries. The flat currently generates an income of £450 per month and is occupied on a 6 month AST from January 2023.
Viewing is recommended to appreciate the pleasant residential location.
Premises:
Comprising a self-contained ground floor retail unit with a 2 bed flat above;
Ground Floor
Sales Area extends to circa 300 sq.ft. (27.9 sq.m.)
Kitchen
First Floor
Lounge
2 x double bedrooms
Kitchen
Bathroom
External
W.C.
Small yard for bin stores
Staff:
The business is owner operated.
Opening Hours:
Monday - Friday 6.00 am - 4.00 pm
Saturday 6.00 am - 3.00 pm
Sunday 6.00 am - 1.00 pm
Tenure:
The premises are available on a new lease with full terms to be agreed. The proposed rent is £10,500 per annum with further details on application.
Legal Costs:
The ingoing tenant will be required to pay a contribution to the landlord’s legal costs for the preparation of the new lease.
Rates:
The premises are assessed as follows:
RATEABLE VALUE £2,900
Rates free incentives subject to individual status.
EPC:
Rating C.
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.
