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Freehold 3 Bed Property & Newsagent

Jarrow, Tyne & Wear

FREEHOLD £219,995 (Ref 5701)

Business Description

A well established newsagent & store on a main road near a shopping centre within a central location in Jarrow. Reduced to £219,995 freehold and £19,995 leasehold for quick sale.

Yearly rent is £11,500. Weekly turnover is  £18,000 (inc. Lottery/Pay Point) and £5,000 (exc. services). Commissions earned from Lottery, Pay Point and Hermes parcels over £300 per week. Town centre location. Nearby bus station 100 yards. Town centre 100 yards. Metro station 500 yards. 

Additional sales opportunities: Post Office (offered) with £30.000 annual commission. Introducing an alcohol licence. Possible sublet part shop for deli sandwiches earning £75 per week and £3900 per annum. Hours extended to 21.00pm Monday to Sunday giving additional 25 hours per week.

Present owner for 16 years. Retirement forced sale.

Financial Information

Freehold Price
£219,995

Leasehold Price
£19,995

Weekly Sales Average
£5,000

Annual Rent
£11,500

Annual Turnover
£260,000

Council Rates
Current rateable value £7,900
(Business rates relief available please see below *)

Accounts
3 Years Available

Annual Net Profit
Available on Request

* (Note: The rateable value is used to calculate your rates bill so this is not the amount you will pay) Click here for more information

Further Details

Premises Licence
No current alcohol licence

Staff
2 part time non-contracted staff

Commissions on Services
Approx £15,000 per year

Trading Hours
Monday – Friday 6:30-6:00 pm
Saturday 7:00-6:00 pm
Sunday 7:00 – 2:00 pm

Ground Floor
Retail Area 657 m² (614 ft²)
Storeroom 11.6 m² (125 ft²) with rear access

First Floor
Total Area 80 m² (862 ft²)

Key Features
•  Upstairs 3 bedroom property

•  Well established business over 30 years

•  Opportunity to increase sales

•  Lottery & Paypoint

•  Accounts Available

Location

Located in the centre of Jarrow in the North East of England.

Location on Map

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Newsagent & General Store Ref 5701