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Off Licence / Convenience Store

South Shields £330,000 Freehold REF: NE1096

Location

The property is located within a small secondary shopping area close to the junction of Chichester Road with Dean Road to the west of the town centre. The immediate area comprises a densely populated residential housing and there are good levels of both captive and passing trade with a Metro station nearby and bus stops directly outside.

Business

This opportunity comprises a long established business which has been in the clients’ ownership since 1988 but is being placed on the market as they wish to retire. The premises offer a modern and spacious retail area that was extended and refurbished in 2010 and is fully fitted and equipped for the trade.  There is very little for any new owner to attend to on takeover.  There are high levels of captive trade from the local residents, workers and other local shop occupiers but the busy main road also generates a certain level of passing trade, particularly as there is free on street parking opposite.

To the upper floors there are two separate flats, both of which are currently rented out, generating an income of circa £12,000 per annum.  Viewing is recommended to appreciate this rare opportunity and the available accommodation.

Property

Comprises a mid-terraced three storey property with ground floor retail shop and 2 separate residential dwellings above.

Ground Floor                      

Retail Area  127.2 m²  (1,369.2 ft²) with beer and drinks chillers, shelving, non-slip flooring, suspended ceiling, CCTV system and roller shutters.

Stores totalling 46.9 m²  (505.6 ft²).

Kitchen 11.6 m²  (125.8 ft²)

Staff Area 6.3 m²  (67.8 ft²)

W.C.’s

External

Yard to the rear.

7 Chichester Road (occupied)

5 bed flat let at £600 pcm

11 Chichester Road (occupied)

3 bed flat let at £400 pcm

Financial Information

This will be provided to interested parties by our client once formal viewings have taken place.

Trading Hours

Monday – Saturday             10.30 am – 9.00 pm

Sunday                                 10.30 am – 2.30pm

Staff

The business is currently run by our client with the help of family members and part time staff.

Services

Mains electricity, gas, water and sewerage services are connected to the property. 

Rates

The property is assessed as follows:

Rateable Value    £12,500

Interested parties should make their own enquiries with the Local Authority.

Ratings:  Shop – C  Flat No. 7 – E  Flat No. 11- D

EPC

Ratings:  Shop – C  Flat No. 7 – E  Flat No. 11- D

 

 

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