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Convenience Store & Off Licence in Newcastle upon Tyne City Centre

Newcastle upon Tyne

£49,950 Leasehold (Ref 5718)

Business Description

A well established Off Licence, Confectioner & Tobacconist in a prime central location in Newcastle upon Tyne city centre.

Situated just off Westgate Road, there is good passing trade from local workers, commuters, students and tourists. A catchment zone for Newcastle central station, university & “Centre for Life” along with many local bars and eateries.  Business has a 24 hour premises licence but currently operates between 11am-11pm. The nearest competitor closes earlier. Option to introduce Lottery, PayPoint, E-Lighters, Newspapers & Magazines  to increase footfall.

Shop currently operating on a gross profit of around 30%. Higher priced on all goods due to its location. Cigarettes making around 20% margin.

Shop’s fixtures and fittings of approx £20k this includes 2 x 2m drinks chillers and a 1m freezer. Shop is fitted to a high standard with new shelving, CCTV, EPOS till system included. Stockroom area downstairs is the same size as the trading area. 

The business is currently fully staff run. The reason for sale is the owner is selling due to other commitments.

Financial Information

Leasehold Price
£49,950

Weekly Sales
£5,500

Business Rent
£12,000

Business Council Rates
Current rateable value £6,600
(Business rates relief available please see below *)

Fixtures & Fittings Value
£20,000

Accounts Available
2 Years

Annual Net Profit
Available on Request

Gross Profit Margin
30 %

* (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

Lease Terms
23 years remaining

Premises Licence
The premises has a 24 hour alcohol licence

Employees
3 part time non-contracted Staff

Commissions on Services
Nil commissions

Stock Value Estimated
£12,000

Trading Hours
Monday – Saturday 11am – 11pm
Sunday 11am – 10:30pm

Ground Floor
Retail Area 24.6 m² (265 ft²)
Storerooms Total 25.8 m² (278 ft²)

Key Features

•  Prime City Centre Location

•  Profitable Business around 30% GP

•  Well Fitted & Merchandised Trading Area

•  Established for over 100 years 

• Opportunity to increase sales

Location

Located in the heart of Newcastle upon Tyne city centre surrounded by hotels, hostels, bars, restaurants and with close proximity to the “Centre for Life”, the university and Newcastle central train station nearby. 

Location on Map

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Convenience Store & Off Licence Ref 5718