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Retail Property (high street) for sale

Shields Road, Heaton, Newcastle Upon Tyne, NE6

Under Offer 638 sq. ft. | £19,999

Property Description

Commercial information

  • Business for sale
  • 638 sq ft (59 sq m)
  • Use class orders: A1 Shops

Key features

  • Leasehold Business
  • High Street Location
  • Retirement Sale
  • Popular Products

Full description

BUSINESS FOR SALE

We are delighted to offer for sale this well managed gift card and party goods retail business set within modern premises in a highly prominent retail location on Shields Road, Byker. The current owner has completely reconstructed the business with a modern and sought after range of stock. The business occupies the retail premises on lease terms at a rent of £13,800 per annum.

Internal finishes are to a high standard with ample provision for stock display.

LOCATION

The subject business is prominently located at the western edge of Shields Road redevelopment area. Byker is a significant built up residential location around 2 miles east of Newcastle city centre served by a range of services and facilities around Shields Road itself. Other retailers include Morrison's supermarket, Greggs, Grainger Games, KFC and Gala Bingo.

ACCOMMODATION

GROUND FLOOR
Shop window frontage with signage over.
Main Sales Area: 47m2
Back Store: 12.3m2
NET INTERNAL AREA: 59.32m2 (638 sq ft)

BUSINESS DETAILS

Thoughts is a traditional gift card and party goods business that has been trading at the location for a number of years and by our client for the last two years who is now selling due to retirement. The business generates income from counter sales and party orders. We are advertised that weekly takings are in the region of £1,000 per week.

Accounts to be made available on expression of serious interest.

LEASE TERMS

The property is occupied on a Full Repairing and Insuring basis. The passing rent on the premises is £13,800 per annum (£1,150 per month) with a service charge of £30 per month. We await a copy of the tenancy agreement to confirm further details.

RATEABLE VALUE

The subject property has been assessed by Newcastle City Council and is described as a, ‘Shop and Premises,' with affect from the 1st April 2010 has an Adopted Rateable Value of £9,100.00. Our source for this, 'www.voa.gov.uk.' Any interested party should have their legal advisor check this.

VAT

Unless otherwise stated, all stated figures are expressed exclusive of VAT. We await confirmation that VAT is payable on this transaction. Interested parties should ensure that they refer to legal information that is provided by the sellers solicitor prior to auction.

EPC

We await a copy of the Energy Performance Certificate.

ADDITIONAL INFORMATION

For further information please contact our office direct on 0191-239-3252.

With regards to viewing the subject property / site / business, this is to be done strictly by appointment through Keith Pattinson Commercial Department, please contact us to arrange an internal inspection, or to register your interest.


Map & Street View

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