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Convenience & Off Licence with 4 Bedroom Accommodation

Prudhoe, Northumberland

£24,950 Leasehold (Ref 5707)

SOLD SUBJECT TO CONTRACT

Financial Information

Leasehold Price
£24,950

Weekly Turnover (Excluding Services)
£6,500

Annual Turnover
£364,000

Annual Business & Property Rent
£14,400

Business Rates
Current rateable value £8,600
(Business rates relief available please see below *)

Fixtures & Fittings Estimated Value
Approx £15,000

Accounts
1 Year Trading Accounts Available

Annual Net Profit
Available on Request

Gross Profit Margin
25%

* (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

Business Description

Convenience store business in the village of Prudhoe with 5 bedroom accommodation overlooking Northumberland.  We are advised there is potential to increase the sales if further time commitment is invested in the business.  Best One branded and has recently refurbished to a good standard less than 2 years ago. The shop currently has coffee machine, E-cigs, lottery & paypoint and an internal cash machine giving commissions of £250 a week. Phone accessory business operates on the premises separately generating a further £350 weekly. The shop has a sizeable stockroom area with rear access. The 4 bedroom accommodation above is well presented and is suitable enough for a family or could be rented for £550 a month.  There is a further room for extra living space but would require refurbishment to be habitable. The shop is running below its potential with the owner unable to spend enough time in it due to personal circumstances.

Further Details

Premises Licence
The premises has a licence to sell alcohol

Staff
2 part time members of staff

Commissions on Services
Approx £250 per week

Lease Information
Lease expiration 29/07/2032

Stock Value Estimated
£15-20,000

Trading Hours
Monday – Friday 7:30-9:00 pm
Saturday 8:00-9:00 pm
Sunday 8:00 – 9:00 pm

Ground Floor
Retail Area 70 m² (753 ft²)
Storerooms Total 56 m² (603 ft²) with rear access

Key Features

•  Renewable lease

•  Commissions on services

•  5 Bedroom Accommodation

•  Lottery & Paypoint

•  EPOS till system & CCTV

Accommodation

5 Bedroom House
4 Bedrooms (doubles)
1 Bedroom awaiting to  refurbish
Kitchen with Fitted Units
Bathroom withToilet and Shower & Bath
W.C. & Wash Hand Basin separate

Rear yard area

Location

Situated in south Northumberland, 11 miles west from the city of Newcastle. The shop is in a nice and safe residential area on a main road with magnificent view to the landscape around. There is no immediate competition nearby.

Location on Map

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Convenience Store & 5 Bedroom Property Ref 5707