The property is located within a small secondary shopping area close to the junction of Chichester Road with Dean Road to the west of the town Centre. The immediate area comprises a densely populated residential housing and there are good levels of both captive and passing trade with a Metro station nearby and bus stops directly outside
The premises comprise large walk round professionally fitted store with a very large display cash out unit, two store rooms, two toilets, staff room and kitchen. First floor is student accommodation comprising bathroom, kitchen, lounge, five bedrooms. Separate flat comprising bathroom, kitchen, lounge, three bedrooms, courtyard
This opportunity comprises a long established business which has been in the clients’ ownership since 1988 but is being placed on the market as they wish to retire. The premises offer a modern and spacious retail area that was extended and refurbished in 2010 and is fully fitted and equipped for the trade. There is very little for any new owner to attend to on takeover. There are high levels of captive trade from the local residents, workers and other local shop occupiers but the busy main road also generates a certain level of passing trade, particularly as there is free on street parking opposite
£75,000 Guide price for the benefit of the lease, fixtures, fittings and goodwill
£26,000 per annum
The property is available to let on a new 15 years lease on a full repairing and insuring basis for a term to be agreed subject to periodic rent reviews
To be confirmed
Shop unit 2034 sq ft & Flat 7, 1377 sq ft & Flat 11, 904 sq ft
10.30 a.m to 9.30 p.m except Sundays which is 2pm to 9.30 p.m
1 x 5 Bedroom Flat & 1 x 3 Bedroom Flat with income of £12,000 per annum
We are advised that the yearly turnover is approximately £520,000 per annum
Available on request
Each party to bear own cost
ENERGY PERFORMANCE CERTIFICATE:
Shop Unit Energy Performance Asset Rating is 67: C Rating. A copy of this property’s energy performance certificate is available on request Flat 7 Energy Performance Asset Rating is 49: E Rating. A copy of this property’s energy performance certificate is available on request Flat 11 Energy Performance Asset Rating is 64: D Rating. A copy of this property’s energy performance certificate is available on request
London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non refundable after the references have been taken up, whether they are accepted or not by the Landlord.
A holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the London Properties client account
FIXTURE & FITTINGS:
Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition
London Properties for themselves for Lessors, Vendors and their agents, give notice that:-
1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries.
2. These details do not constitute any part of an offer or contract.
3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties.
4. All rent prices, fees and charges are quoted exclusive of VAT
Through London Properties by appointment only
Chichester Road, Southfields, Tyne & Wear, NE33 4AA