Situated on the junction of St James Square and Pyle Street this corner property is in an enviable location in the County Town of Newport. Newport has a population of around 60,000 and serves as the main shopping area for the Island, with an overall population of around 130,000. St James Square is a busy location joining the High Street to the bus station, neighbouring businesses include Costa Coffee, Nationwide, Santander and Topshop.
The unit offers 15.62 sq m (168 sq ft) of retail space plus staff area. The front and side of the unit is fully glazed offering amazing window sales for any occupier.
Internally the property offers a sales area with glazed sales cabinets, a workshop area with 3 safes and WC to the rear. The property is fully carpeted and has a suspended ceiling to the sales area with inset spot lighting.
The property benefitted from a full refit in June 2010, this included a new alarm system, new electric shutters to the front and side, new wooden frontage and windows, new carpets and signs and 3 new safes.
The business shows good accounts (available to view to bona fide applicants only) and would ideally suit a husband and wife or family team to run together. The vendor currently works 3.5 days per week. There is the potential to expand this business through internet sales.
The vendors have advised they are selling due to retirement and would be available to help with a handover period to suit purchasers.
There is the opportunity to take over the current owners’ parking space in a nearby car park which is rented at £80 per quarter.
The business is being offered for sale for £80,000 with an assignment of the current lease at £9,200 per annum plus stock at valuation, fixtures, fittings and goodwill plus stock at valuation.
Business Rates show a rateable value £9,300, rates payable using the UBR are approximately £4,584.90, not including small business rates relief where applicable.
Leasehold Term: Rent £9200 pa
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