Location:
The premises are located within a busy shopping centre in the heart of Thornaby which is located in the North East of England between Stockton on Tees and Middlesbrough.
The Pavilion Shopping Centre is the main retail offer within Thornaby and tenants include ASDA, Iceland, Boots, Greggs & The Post Office. There is a free 700 space car park serving the site.
Business:
This unit is located in the heart of a very busy shopping area with high levels of captive trade. The premises are spacious and incorporate seating for up to 20 covers and the seating area is a pleasant, modern space.
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 in our client’s ownership since it opened in 2009 and is on the market as they are looking to reduce their commitments.
Premises:
Comprises a modern detached lock up retail unit fully fitted and equipped for the franchise. The GIA extends to 750 sq.ft. (70 sq.m.).
Opening Hours:
Monday - Saturday 9.00am - 5.30pm
Sunday 11.00am - 4.00pm
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 TBC.
Tenure:
The premises are held on lease for a term of 15 years from June 2009 at a rent of £20,000 per annum exclusive. Further details available on application.
Rates:
Rateable Value - £14,500 (from April 2023).
Incentives available 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).
