REF 5808

Nisa Local Convenience Store & Off Licence

Newcastle upon Tyne

Location

Situated on a main road 1 mile to the west of Gosforth, a suburb of the city of Newcastle upon Tyne, Tyne and Wear, North East England and 1 mile east of the A1 motorway. Central to a large residential area the store is close to 2 schools and a 5 minute walk from the Wansbeck Road local metro station

The Business

A Nisa Local branded convenience store & off licence store

Fixtures & Fittings

Open multi deck display fridges – sizes 6.25m, 7m, 9m and 15m
Upright display freezers – large double hinged glass door – sizes 1.6m, 3.8m and 5.5m
Retail Epos tills – 3 standalone units

Retail Services

External ATM cash machine, WH Smiths News, Camelot National Lottery and Paypoint services.

Utilities

Electric, water, broadband and telephone line services.

Additional Information

Local pasty and sandwich maker Greggs has offered a rental of £15,000/yr for 1,200ft² of retail space. The site has been Post Office approved with an unsigned contractual agreement in place, commission is expected to be between £9,000-£15,000.

Option to Buy

There is an option to purchase the freehold for £250,000 stated within the lease, this option will expire in November 2022.

Business Rates

The landlord is currently paying the business rates for the premises.

Measurements

Ground retail area 278.75m² (2,999ft²)
Ground warehouse 233.34m² (2,510ft²) inc. storage, office and W.C.

Notice

All information provided is subject to the standard terms and conditions of A1 Businesses Ltd. (trading as A1 Businesses for Sale). See our disclaimer page for more details.

Viewings

Any viewings for the business and/or property are to be made strictly by appointment only through A1 Businesses for Sale. No approach should be made directly to the owner or any of their employees.

Price

£200,000

Tenure

Leasehold

Gross Annual Income

£936,000

Annual Rent

£21,000

Rateable Value*

£55,500

* (Note: The rateable value is used to calculate your rates bill so this is not the amount you will pay) click here for more information

Trading Hours
Monday To Sunday 7:00am - 9:00pm

Premises Licence
Monday To Sunday 8:00am - 11:00pm

Staff Employed
6 staff operate the business. TUPE rules apply to 3 staff on 25hrs @£9.50, 16hrs and 16hrs @NMW

Commissions on Services
Lottery Commissions £6,000/yr (approx.)

Stock at Value
£35,000 (approx.) stock at wholesale value.

Lease Terms
10 year lease commencement date May 2020
5 year rent review

Measurements
Ground floor retail area 278.75m² (2,999ft²)
Ground floor storage area 233.34m² (2,510ft²) inc. storage, cupboards, offices and staff toilets.

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