Member Article

Shop for sale: The Little Monk, Tynemouth

RETIREMENT SALE of Leasehold Going Concern Business

DESCRIPTION:
A long established fine gift shop located centrally on Front Street in Tynemouth, Tyne & Wear.
Owned by the same family since 1997 Little Monk is well reputed and many of the customers
return again and again.

The business operates from a very well appointed, double fronted premises with a main sales
area, further sales area to a raised level and a kitchen and office/store room to the rear.

LOCATION:
Tynemouth is often described as ‘the jewel in the crown’ of North Tyneside; it is part of a large
conservation area and is home to the ancient ruins of Tynemouth Castle & Priory. The village is
popular with locals and visitors who come to enjoy the beaches and scenery of this
picturesque area. Other occupiers include public houses, restaurants, clothes shops, deli’s,
estate agents the Co-operative food store, Subway and more. In July each year the village
plays host to the Mouth of the Tyne Festival and is also home to Kings School. Front Street itself is
a one-way thoroughfare incorporating pay and display parking. Tynemouth is approximately
12 miles east of Newcastle Upon Tyne and around 5 miles east of the Tyne Tunnel and A19.

THE BUSINESS:
The business retails a large range of high quality gifts, cards and jewellery. There are ranges of mirrors and
other home ware as well as handbags and scarfs. Many customers are buying items as wedding and
birthday gifts and often also buy for themselves. The sales area has a range of glass display cases,
shelving and pegs all of which are used to best display the ranges of products on offer.

THE PROPERTY:
A double fronted shop unit with 2 sales areas, a kitchen, w.c., basement, office and storage.
Front Sales 27.2sqm
Rear Sales 13.0sqm
Kitchen 11.1sqm
Office/Storage 13.9sqm
Basement 17.9sqm

The property benefits from gas central heating from a wall mounted boiler to radiators in some areas. The
property has a burglar alarm.

OPENING HOURS:
Monday Closed
Tuesday - Saturday 10am – 5pm
Sunday 11am – 4pm

STAFF:
The business is run by our client with the assistance of 1 full time member of staff.

TRADING INFORMATION:
Accounts are available to bona fide potential purchasers once they have viewed the business. Please enquire.

TENURE:
The business will be offered with the benefit of a brand new Internal Repairing and Insuring (IRI) lease. It is likely that the initial period of the lease will be 5 years although our client is open to discussion.
The ingoing rent will be £12,000per annum.

ASKING PRICE:
The price of the business is £35,000 for the goodwill, new lease and the fixtures and fittings. Stock at valuation.

CONTACT:

Jason Roberts

Roberts Commercial
Cobalt Business Exchange
Cobalt Park Way
Newcastle Upon Tyne
NE28 9NZ

T. 0191 280 3285 E. enquiries@robertscommercial.co.uk W. www.robertscommercial.co.uk

DISCLAIMER:
Important Note: None of the services have been tested.
Measurements, where given, are approximate and for
descriptive purposes only. Boundaries cannot be guaranteed
and must be checked by solicitors prior to exchange of
contracts. Roberts Commercial for themselves and for the
vendors or lessors of this property, whose agents they are give
notice that these particulars are produced in good faith, are
set out as a general guide only and do not constitute any part
of a contract. No persons in the employment of Roberts
Commercial has any authority to make or give any
representation or warranty whatever in relation to this
property.

This was posted in Bdaily's Members' News section by Jason Roberts .