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Off Licence / Convenience / PO

Tyne & Wear £225,000 Leasehold (fees apply) REF: NE1450

Location:

Located on the A690, which is one of the main roads leading into the City Centre from the A19 and A1, this business serves what is predominantly a good quality residential area but with some commercial occupiers. 

There are extremely high levels of both passing and captive trade and there is free pull in parking to the front and side of the property.

Business:

This is a well-established Off Licence and General Dealer business which originally operated as part of the Mills News network before being acquired by our client in 2013.  This is a successful trading business which has been placed on the market as they are looking to concentrate on their other business commitments.

This property has a strong trading history and has recently acquired a Post Office Counter which is expected to improve footfall and sales.  The shop is set out in a modern, minimarket style with good quality fixtures and fittings and there would be little for any new owner to attend to on acquisition.

This business represents an attractive opportunity for an owner operator with the benefit of excellent levels of captive and passing trade.  Viewing is recommended to appreciate the excellent retail location.

Premises:

Comprising a ground floor lock up retail unit within a substantial end-terrace three storey property;

Ground Floor  - extends to circa 1,000 sq.ft. (93 sq.m.)

Sales Area with display shelving, fluorescent strip lighting

Stores

Staff Toilets

Opening Hours:

Monday            - Sunday            6.00 am - 10.00 pm     

Staff:

The business is ran by our client with the help of 2 part time members of staff.

Tenure:

We are verbally informed that the premises are held on a 25 year lease from 2012 at a current rent of £17,000 per annum.  We are awaiting a copy of the lease document.

Rates:

The premises are currently assessed as follows:

RATEABLE VALUE    £5,600

Rates free incentives are available subject to 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.

Freehold Option:

The business together with the property and separate 3 bedroom maisonette above is available for offers in the region of £550,000

 

 

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