Tastees Sandwich Shop 41 Newgate Street, Bishop Auckland, Co Durham. DL14 7EG

OFFERS BASED ON £15,000 (LEASEHOLD)

• Taking £1,500 plus per week • Prime town centre location – long established

• Scope for deliveries and outside catering

• High average gross profit of 65%

• Superb opportunity for owner operators

Jonathan Ward | Business Broker Tel: 0845 299 0158

LOCATION This business benefits from a prime location in Bishop Auckland town centre benefitting from a high pedestrian footfall. The business is surrounded by major multiple retailers such as Marks and Spencer, Boots, Superdrug etc . BUSINESS This well established business has been in our clients’ hands since 2008 and is only now being offered for sale due to other business interests. The previous owners operated the business for over 8 years. The business achieves a good level of turnover with a latest closing time of just 3.00pm and there is clear potential to expand the opening hours and potentially develop a catering or delivery side to the business. ACCOMMODATION The business is located on the ground floor with first and second floor accommodation currently used for storage and washroom facilities. The main entrance, from Newgate Street, gives access to a well equipped trading area with serve over counter and various display fridges. ANCILLARY AREAS The shop leads through to a spacious prep room, will equipped and with ample working surfaces. The first and second floor accommodation comprises storage and staff facilities. Access to the rear yard. LIVING ACCOMMODATION The premises are lock up and there is no owners living accommodation. TAKINGS We are informed by our clients that the business has current takings in the region of £1500 per week. GROSS PROFIT MARGIN Average GP is 65% ACCOUNTS We do not currently hold accounts for this business, but financial information will be made available by our clients once a viewing of the business has taken place. EXPANSION POTENTIAL The business currently relies on walk in traffic for its trade, there is clear potential to develop either local delivery rounds or a catering side to the business should a purchaser wish to pursue this option.

COMPETITION There is obviously a degree of competition locally, enhancing the business rather than detracting from it, as our clients have exploited their reputation by offering quality products at competitive prices and have managed to achieve a unique position in the market place based both on the historical reputation of the business and the day to day quality of food and service offered. STAFFING Our clients do not work in the business on a regular basis but, in our opinion, the business would benefit from a full time working owner. REASON FOR SALE The business is being offered for sale to enable our clients to pursue their other business interests which have caused them to spend less time in Tastees than they would have wished. FIXTURES AND FITTINGS We have been advised by our client that the trade fixtures and fittings are all owned outright. HOURS OF OPENING Monday – Saturday: 9.00 – 3.00 Sunday: Closed RENT £17,500 per annum exclusive of rates, service charge and VAT (if applicable) TENURE To be advised RATES We are advised that the business rates payable are £5,000 per annum. Interested parties should verify these figures with the Local Rating Authority which is Durham County Council ASKING PRICE Business (Goodwill) / Lease / Fixtures & Fittings: Offers invited in the region of £15,000 plus stock at value. SUPPORT AND TRAINING Our clients will ensure a full and seamless handover of the business.

LEGAL FEES Both the seller and the purchaser are to be responsible for the own contractual costs with regard to the business aspect. The purchaser / assignee is to be responsible for all legal costs incurred in connection with the assignment of the lease including the landlord’s reasonable costs.

PLANNING & STATUTORY CONSENTS

Prospective purchasers or tenants should make their own enquiries of the Local Planning Department and satisfy themselves at their own expense as to the use they intend to implement. It should not be assumed that the property has all the necessary planning, building regulations or other statutory consents.

VIEWINGS

All viewngs are strictly by appointment through Lakey & Co. No direct contact should be made to the business. Contact us on 0845 299 0158 or email info@lakeynortheast.co.uk PROOF OF FUNDING To comply with current legislation, we are under an obligation to check as far as possible the financial status of prospective purchasers to enable our client to make considered decisions. We may ask for confirmation of availability of funds to purchase which should be provided to us by your solicitor/bank/building society. LEASES These premises are being made available by an assignment of the current lease. An assignment is the process of passing on or selling a leasehold interest. The lease will normally stipulate that any assignee must meet certain criteria and be qualified as a reliable tenant by the landlord. If you make an offer for the business which is accepted then we will need the names and addresses of appropriate referees including bankers to which we can apply for references in order to seek the landlord’s consent to assign the lease. SALES ADVICE If you are thinking of selling a business please contact us for free and impartial advice. OUR REFERENCE SA810NE SALES DETAILS PRODUCED BY / DATE / ISSUE JW 05/10 -1

CONTACTING US: Tel: 0845 299 0158

Fax: 0845 299 1219 email : info@lakeynortheast.co.uk www. lakeynortheast.co.uk PO Box 268 Bishop Auckland Co Durham DL14 4FF

IMPORTANT NOTICE TO INTERESTED PARTIES – PLEASE READ CAREFULLY

Having received details of this business, we ask that you: 1. Understand and agree that any information regarding any business supplied by Lakey & Co or their clients will be kept strictly confidential. 2. View businesses registered with Lakey & Co by appointment only. 3. Do not contact any owner, staff, suppliers, competitors or customers of any business registered with Lakey & Co. If you visit the business as a customer please do not introduce yourself to anyone working in the business at the time. 4. Do not pass any information supplied by Lakey & Co (or their clients) to any third party other than a professional adviser eg. Bank, solicitor, surveyor, accountant etc. All such information to be returned immediately to Lakey & Co if my interest in purchasing the business ceases. 5. Submit and negotiation any offers direct to and with Lakey & Co LAKEY & CO for themselves and for the vendor(s) or lessor(s) of this business / property give notice that these particulars do not constitute any part of an offer or contract. Any intending purchasers must satisfy themselves as to the accuracy of the particulars and no warranty is given by the vendor(s), their agents or any person in their employment. Offered subject to contract, prior sale or withdrawal. Sizes quoted are approximate only.