Location
The business is located within a busy terrace at the northern end of Northumberland Street and close to the Haymarket Transport Interchange. This is an extremely busy part of the City, known locally as Haymarket, which is also home to the main public transport interchange which generates high levels of potential customers from both the buses and Metro RTP.
Northumberland Street is the main shopping street within the City centre and is home to Marks & Spencers, Fenwicks and a multitude of other large retail operators. This Post Office is near both Newcastle and Northumbria Universities and therefore there are a large number of students who regularly use the PO services and shop.
The premises are currently configured to provide a standard retail unit to the front with the Post Office services located at the rear of the shop.
Business
This is a long-established business which has been in our client’s ownership since 1997. The business has been placed on the market as the current owners are looking to downsize their business portfolio and retire.
The shop sells a broad of newspapers, magazines, and confectionery and is an extremely busy Post Office, as demonstrated by the salary of £197,000 per annum. This level of PO traffic ensures there is a high footfall in the shop and new owners could naturally expand the lines and trading hours if they wanted to.
Premises:
Comprises the ground, basement and top floor of a large terrace property. Accommodation;
Ground Floor
Sales Shop / Post Office circa 79 sq.m. (850 sq.ft.)
Basement
Stores circa 20 sq.m. (220 sq.ft.).
Attic Space
Staff Welfare
W.C.
Trading Hours
Monday - Saturday 6.00 a.m. - 7.00 p.m.
Sunday 6.30 a.m. - 5.30 p.m.
Staff
Currently run under management. Annual wage bill circa £180,000 per annum.
Fixtures & Fittings
A full inventory would be made available to bona fide enquiries prior to an exchange of contracts. There is air conditioning installed in the unit.
Rates
The premises are assessed as follows:
Rateable Value £77,000
EPC
tbc
Tenure
The premises will be offered on a new lease at a commencing rent of £105,000 per annum. Full details on application.
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.
