Pub/bar for sale in Albion Road, North Shields NE29

For sale. A well known public house and two bedroom flat prominently situated on the corner of Albion Road and Nile Street, North Shields, Tyne & Wear. The Top House Bar is predominately a wet sales lead business. The first floor flat is currently let on Assured Shorthold Tenancy Terms.

Material Information

Rateable Value £1,400.
Council Tax Band A.
EPC rating C.
Property is of traditional brick wall construction with a tiled roof.
Property is connected to all mains services.
Water supply is metered.
Standard, superfast and ultrafast broadband available.
Good mobile coverage.
On street parking available - charge may apply.
Asking price £175,000.
Tenure Freehold.

Location And Situation

The property is prominently situated on the corner of Albion Road and Nile Street in North Shields, Tyne & Wear.

North Shields is a large historic town located on the north bank of the River Tyne approximately 9 miles east of Newcastle city centre. Specifically, the property is located at the junction of Albion Road ane Nile Street forming part of the Norther area of North Shields town centre. North Shields town centre provides a variety of services, facilities, leisure and transport connections to the local population and surrounding communities.

Description

The subject property is a two storey corner terrace public house currently trading as the 'The Top House Bar' on the ground floor and cellar. There is a separate two bedroom first floor flat currently let at £480pcm on assured shorthold tenancy terms.

Business Information

The Top House Bar is currently trading with a full time manageress and six part time members of staff. Opening House include 8am to 11pm Monday to Thursday, 8am to 1230am Friday and Saturday and 12 noon to 10:30pm on Sunday.

The main income fro the business is generated through wet sales. The gross turnover for the period ended 31st October 2022 is reported as £197,319 and a gross profit of £108,724. Further information is available on request for any parties wishing to continue the going concern.

Ground Floor Accomodation

Entrance Lobby
Main Bar 50.29sqm (541.3sqft)
Games Room 27sqm (290sqft).
Male WC
Female WC
Floor Area 77.29sqm (828.84sqft)
Basement cellar 38.3sqm (412.3sqft)

First Floor Accomodation

The property is currently let on Assured Shorthold Tenancy Terms. Photos available on request.

Entrance Hall

With stairs to landing.

Lounge (4.66m x 3.51m (15'3" x 11'6"))

Kitchen (4.25m x 1.75m (13'11" x 5'8"))

Bathroom With Wc (3.51m x 2.13m (11'6" x 6'11" ))

Bedroom One (3.7m x 4.66m (12'1" x 15'3"))

Bedroom Two (4.6m x 3.04m (15'1" x 9'11" ))

Roof Terrace

Tenure

Freehold

Asking Price

£175,000 plus VAT

Energy Performance Certificate

Commercial EPC to Follow.

Rateable Value & Council Tax

The property is assessed for business rates as follows:

Description:Public House and Premises
Rateable Value:£1,400

The residential accommodation is assessed for council tax within Band A.

Vat

We understand that VAT is payable.

Money Laundering

In accordance with the Anti-Money Laundering Regulations the applicants will be required to provide two forms of identification and proof of the source of income.

Viewing

By appointment only.