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Ladies Gym In Whitley Bay For Sale

Whitley Bay, Tyne and Wear
Asking Price:
£60,000 Furniture / Fixtures included
Turnover:
£160,000
Net Profit:
Available on request

• Rare opportunity in sought after area.
• Turnover £160,000 per annum.
• Reception area, fitness studio plus separate rooms.
• Active membership of 550+ with scope to expand.
• Premises in excellent order.
• Long lease in place.
• EPC – C.

Property information

Property:

Leasehold

Lease Terms:

We are verbally informed the premises are held on a sublease for a term of 15 years from 2013. The current rent is £34,000 per annum but interested parties should seek legal confirmation of this.

Leasehold Rent:

£34,000 per annum

Location:

The business is located within the busy and popular secondary shopping parade of Whitley Lodge which serves a pleasant residential to the north of Whitley Bay town centre. The parade is home to a mix of tenants that include a Tesco Express supermarket and Davanti Restaurant together with a range of popular independents that include coffee shops, hair salons and food outlets.

Premises Details:

This business was established by our client from this site in 1998, at which point the premises were fully refitted and refurbished. The layout is configured to provide a spacious reception area together with one large studio, a free weights area and a studio for classes. There are modern toilet, shower and changing facilities within the premises.

The current business has an active membership of circa 550 members and classes currently offered include spinning, body blast, yoga, and zumba plus there are also various cardio circuit sessions.

The public areas are spacious and extend to almost 4,000 sq.ft. allowing our client to create some additional suites which have been sublet to two hair and beauty operators. Each tenant pays a monthly rent which totals £13,700 per annum which helps offset the rent but also offers complementary services for the membership.

The opportunity would probably be most suit a “hands on” approach and the business has been placed on the market as the client is looking to reduce their commitments.

Viewing is strongly recommended to appreciate this rare to the market opportunity.

Premises:

Comprises a fitness studio with separate ground floor street access.

Ground Floor extends to 5,100 sq.ft. (474 sq.m.) including;
Reception Area
Office
Main Studio with wooden flooring and wall mirrors.
Weights Area
Changing Rooms with showers, W.C. and lockers.
Beauty Salon
Hair Salon

External
Car Parking There is a designated car park serving the parade

Energy Performance Rating:
C  View EPC Graph for this property

Business Operation

Trading hours:

Monday 7am – 9pm
Tuesday 9am – 9pm
Wednesday 7am – 9pm
Thursday 9am – 9pm
Friday 9am – 7pm
Saturday 8am – 2pm
Sunday 8am – 1pm

Employees:
The business is effectively operated under management with the help of 4 members of staff. Our client works at the gym for approximately 8 hours per week.
Years established:
20

Contact Information

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  1. What will happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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