Retail property (high street) for sale

Rooms

Location
The subject property is located along Milburn Road in Ashington. Located in a predominantly residential area but not being far from all local amenities such as Asda, Iceland and schools. The subject property has excellent transport links with a bus stop being right outside the property and the bus station being a 10 minute walk away, the property is a 6 minute drive from a major road (A189). The subject property is located 17 miles north of Newcastle Upon Tyne and 6 miles east of Morpeth.

Accommodation
GROUND FLOOR Entrance 5.3m x 2.1m Hallway 5.6m x 1.5m Open plan seating area 8.9m x 8.5m Soft play area 18.3m x 11.5m Cafe 5.9m x 3.1m Kitchen 3.4m x 3.2m Store room 3.7m x 1.4m Manager office 3.5m x3.5m Office 5m x 2m Staff room 4.5m x 2.3m 2 x W.C. Baby change facilities Store room Office. FIRST FLOOR Bowling area 13.8m x 6.1m Open plan seating area 16.6m x 13.6m Soft play area 12.5m x 8.5m W.C. Storage area. NIA approx. 1,245sqm (13,400sqft). NIA sourced from VOA.

The Fun Jungle
The business currently trading as ''The Fun Jungle'' is a children's soft play area and restaurant/coffee shop. To the first floor is a bowling alley and dessert shop. We are advised over the first 5 months of the year, the business had average weekly takings of £4,116, and of that £1,735 profit per week.

Business Details
We are advised a present turnover of £35,000 per month. But a more representative figure would be a financial overview showing an increase in business over the past financial trading year of 35-40%, this is expected to continue as the business solidifies its position in the market and becomes better known and established. Figures quoted do not take into consideration any revenue derived from games and other machine devices, these, if installed by a new operator, have the ability to significantly increase the total revenue of the business. Any financial reporting for Stars and Strikes on the upper floor of the building is not included and again this area of the business has the ability, to both increase business of The Fun Jungle Ashington and increase the overall revenue of the Business.

Lease Details
Part of the premises is let on an AST to a tattoo parlour at a rent of £600pcm (£7,200pa). The Fun Jungle is currently owner occupied and any interested party has the advandage of agreeing a new rental recharge with business.

Tenure
Freehold. Title number ND59866.

Rateable Value
The adopted rateable value is £37,750 as of 1st April 2023. Sourced from VOA

EPC
Available upon request (rating C).

Auctioneers Additional Comments
Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure AML procedures are carried out in accordance with the law

Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price , Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts, the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (Subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.