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Commercial Property for sale

Unit 5, The Waterside Building, Seaham, SR7

Sold STC £30,000

Property Description

Full description

Tenure: Leasehold

Substantially reduced to secure an immediate, if reluctant, sale, this is an opportunity not to be missed. This is a well-established up-market gift shop, selling quality goods. It has a substantial numbers of repeat customers, supplemented by visitors tempted to the increasingly popular Seaham Harbour Marina development- a sea - front facility attracting world-wide visitors throughout the year. Successfully and profitably trading for 2 years, this is a sale required due to a change of circumstances, and an opportunity for a new proprietor to continue the excellent work already carried out by the present owner - and all at a seriously tempting price. For goodwill fixtures and fittings, we seek a reduced price of £30,000 (plus stock at valuation)


Business 
One full year accounts are available, and can be inspected BY GENIUINELY INTERESTED PARTIES ONLY. This shows and annual turnover of £70,000 approx and a gross profit of £22,000 approx. This is a relatively young business, with potential for growth.

Tenure 
Occupation will be on the basis of an assignment of the present lease, which is from May 2014, for a term of 10 years at a rent of £4904 (plus VAT) pax.

Service Charge 
A service charge is payable to the "management company" to cover the upkeep of common areas, exterior fabric, communal WC's, Building Insurance etc. The annual payment was £2760 (plus VAT).

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