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REF: NE2120

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Comments Arrange a viewing Back to details

 

         

  Sold

Convenience Store, Retail Unit & Flat

North Shields

£170,000 (Freehold)

REF: NE2120

Location

This business and property is located at the junction of Mindrum Terrace with Norham Road, close to the A193 Tynemouth Road. The immediate area comprises mainly residential accommodation but there are also a number of commercial tenants nearby, including the Go North East bus depot and Tecaz Kitchen factory.

Business

This is an extremely long-established CTN business which has been in the seller’s ownership since 1967 but has been placed on the market as they are retiring.

This is a compact convenience store and off licence which has excellent levels of core business from the nearby residential occupiers with free pull in street parking which can generate passing trade.

This business represents an attractive opportunity for an owner operator with the benefit of captive and passing trade.  The upper floor flat offers potential for rental income or owner’s accommodation and the shop adjacent is occupied by a motorbike repair business currently generating £100 per week via a “gentleman’s agreement”.  We understand that vacant possession would be available on request.

This a rare freehold off licence opportunity and viewing is recommended to appreciate the space and scope.

Property

Comprises a convenience store, rented shop and separate vacant flat above.  Accommodation;  

Ground Floor 

Convenience Store             circa 430 sq.ft. (40 sq.m.).

Motorbike Repair Centre    circa 750 sq.ft. (70 sq.m.).

External W.C.

First Floor Flat

Lounge

Bedroom1

Bedroom 2

Kitchen

Bathroom

Staff

The business is currently operated by the owners.

Opening Hours

Monday - Saturday          8.00am - 5.30pm

Sunday                           8.00am - 1.30pm

Scope to open longer hours

Tenure

We are verbally informed that the title is Freehold.

EPC

#6         Rating B

#8         Rating D

#10       Rating E

Rates

The premises are assessed as follows:

#6         Rateable Value    £4,850

#8         Rateable Value     £4,700           

Rates free incentives subject to status.

#10       Council Tax Band A

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.

 

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