Location
The premises are located within a busy shopping centre in the heart of Kenton which is a suburb of Newcastle located on the north west perimeter.
Kenton Retail is the main shopping area for this part of Kenton and tenants include Heron Foods, Ladbrokes and Nisa Local. There is a free car park to the rear of the centre and ample on street parking to the front.
Business:
This unit is located in the heart of a very busy shopping area with high levels of captive trade. The premises are a configured to provide a prep and collection area and also incorporate seating for up to 20 covers.
Subway provide a strong, identifiable corporate image that is backed up with marketing support and guidance from a Head Office team. For this support, and including the aggressive media marketing, the franchisees pay a fee which equates to circa 12.5% of the turnover.
This franchise has been trading from this location since 2016 and is on the market as they are looking to reduce their commitments.
Premises:
Comprises a lock up retail unit forming part of a larger parade and fully equipped for the franchise. The GIA extends to 925 sq.ft. (86 sq.m.).
Opening Hours:
Monday - Saturday 9.00am - 6.00pm
Sunday 10.00am – 5.00pm
Staff:
The business is currently run under management with 1 manager and 4 part time staff. There are 2 staff allocated on each day.
EPC:
Rating B.
Tenure:
The premises are held on lease for a term of 15 years from October 2016 at a rent of £13,000 per annum exclusive. There are rent reviews and tenant only break clauses every 5th anniversary.
Rates:
Rateable Value - £12,000 (from April 2023).
Rates free incentives subject to status.
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.
Subway Franchise Fee
There is a franchise fee of circa £5,000 payable to Subway to cover their legal costs, the assignment of the lease and a training course (if required).
