£30,000 Premium Rent of £5,399 per annum
The property is situated on North Road in Boldon Colliery. Boldon Colliery is a large village, comprising of around 500 Miners’ cottages and good local retailers. It is 4 miles North West of Sunderland and 3 miles South of Jarrow. The property itself is situated on North Road which is both a mix of Residential and Commercial properties. Retailers situated close by to the property include, ASDA, ASDA Petrol Station and Cineworld.
The property benefits from good transport links, this includes bus stops directly opposite the property, and the nearest train station being East Boldon which is only 2.1 miles away.
The subject property is a ground floor mid terrace retail unit, currently trading as a coffee shop. The premises consist of a ground floor sales area, kitchen and storage area.
The business is currently trading as Milk & Sugar for … years and serves coffee and food. The business trades 6 days a week from 8:30am to 3:30pm An itinerary of the fixtures and fittings is available on request which includes a hire purchase van which forms part of the business. A copy of the most recent accounts is available on request.
Ground floor retail 34.9m² (375ft²)
Ground floor kitchen 15.6m² (167ft²)
Ground floor storage 6.5m² (70ft²)
Total 57.0m² (613ft²)
Description RV Estimated Rates Payable
Shop and premises £4,000 £1,964
We are advised that the rateable value of the premises as at 1 April 2017 is £4,000 and we have estimated the accrual rates payable for the current year above. This is based on the standard Small Business Rate of 48p in the pound. However, interested parties should confirm the current position with the Local Authority.
The property is available by way of assignment of the current lease which commenced on 20/10/2014 and expires on 19/10/2021. The current rent is £5,399 (Five Thousand Three Hundred and Ninety-Nine) per annum.
A premium is sought for the goodwill and fixtures of the business at £30,000 (Thirty Thousand Pounds).
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
Each party is to bear their own legal costs involved in the transaction.
MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
For general enquiries and viewing arrangements please contact Joseph I’Anson or Anthony Barella at Bradley Hall.
Tel: 0191 563 4242