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Gift Shop And Coffee Shop In Gateshead For Sale

Gateshead, Tyne and Wear
Asking Price:
£59,950 Furniture / Fixtures included
Turnover:
£113,000
Net Profit:
Available on request

• Turnover circa £113,000.
• Long established business.
• Spacious main road premises.
• Strong profit margins with short trading hours.
• Genuine retirement sale.
• EPC - C.

Property Information

Property:

Leasehold

Lease Terms:

The premises are currently held by way of a 12 year lease from July 2011 at a passing rent of £13,800 per annum. There is a rent review in July 2020.

We are verbally informed that a new 15 year lease is available at a commencing rent of £15,000 per annum.

Leasehold Rent:

£13,800 per annum

Location:

Sunniside is a pleasant and popular village approximately 4 miles south west of Gateshead and 5 miles from Newcastle. The premises are located on the main road leading through the heart of Sunniside which in turn provides direct access to the A1 Western Bypass. There are also a number of densely populated residential areas within easy driving distance.

Premises Details:

Comprises of an extended, single storey retail unit of traditional construction offering the following accommodation;
Ground Floor
Front Shop - 15’8” frontage x 24’5” depth.
Gallery Area - 15’6” x 12’8”.

Coffee Shop - 15’7” x 20’0” with 21 covers, various tables and chairs with barista area.
Kitchen with stainless steel sink, microwave oven, electric hob and dishwasher.
W.C.

Furniture Showroom - 18’2” x 12’
Storerooms - 20’ x 8’ with central heating boiler.
Clothing & Accessories Showroom - 26’ x 14’

External
Courtyard with seating for 10.

Energy Performance Rating:
C  View EPC Graph for this property

Business Operation

Reasons for selling:

Retirement

Trading hours:

Monday 11.00 am – 4.30 pm
Tuesday - Saturday 10.00 am – 4.30 pm
Sunday 11.00 am – 4.00 pm

Employees:
The business is currently operated by our client on a part time basis with the help of 4 part time staff. The monthly wage bill is currently in the region of £1200 - £1300 pcm.

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