Location
The premises are located within the original shopping parade built to serve the popular Team Valley Trading Estate. This Estate is the North East’s premier commercial location covering 285Ha (704 acres) and providing in excess of 650,000 sq.m. of office, retail and industrial space.
The shopping centre is located on Kingsway which is the main road through the Estate and the shops have their own designated car park.
Business
This is a long established and very reputable sandwich business which has changed hands only once in the past 28 years. The business has been placed on the market as our clients wish to retire.
The premises are relatively compact and are currently configured to provide a waiting and service space plus a prep area to the rear. The current menu comprises a range of hot and cold drinks and quality sandwiches, together with salads and Paninis. Our client also offers a range of “ready” meals such as shepherd’s pie, mince and dumplings, chilli and curry which are are particularly popular during the winter months. A recent successful addition to the menu is a selection of award winning, locally produced Pitman Pies. There is scope to develop the menu further and to extend the weekday trading hours, in particular, by opening on a Saturday where there is a genuine demand.
New owners could look at offering other services, such as outside catering or delivery rounds, and the business is a rare to the market opportunity with high profit margins and potential to grow in the right hands.
Premises
Comprise a self-contained ground floor shop which forms part of a busy shopping parade.
Ground Floor circa 370 sq.ft. (35 sq.m.)
Retail Area - with serve over deli counters, bain marie, soup cauldron, potato oven and coffee machine.
Kitchen – with griddle, cooker, stainless steel tops, extraction, microwaves and fridges / freezers.
W.C.
Fixtures & Fittings
The premises have been fully rewired within the last 12 months and a number of new pieces of equipment have been purchased. A full inventory would be made available to bona fide purchasers prior to an exchange of contracts.
Trading Hours
Monday - Friday 6.00am – 3.00pm
Saturday & Sunday closed
Rates
The premises are assessed as follows:
Rateable Value £9,700 (2017 list)
Rates free incentives subject to individual status.
Tenure
The premises are held on a 10 year lease from August 2019 with a break clause at the 5th anniversary. The current rent is £7,500 including service charges and a copy of the lease will be available on request.
EPC
Rating - C
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations, the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
