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Convenience Store & Off Licence in Newcastle upon Tyne

Newcastle upon Tyne

£94,950 Leasehold (Ref 5720)

Business Description

A good opportunity to purchase a well established business on a main street in a suburb of Newcastle upon Tyne. This recently developed and re-fitted site resides at the heart of a newly proposed residential development area consisting of 580 houses and a local school.

The shop is re-fitted to an exceptionally high standard with fully fitted wood effect counter, 3.75m closed door fitted coolers, LED lighting, high gloss tiled floor and modern fixtures & fittings. Ancillary areas include a sizeable stockroom area and W.C.

Sales are mainly generated from off licence, drinks & confectionery with tobacco sales lower than average at around 25%. Services provided include Lottery & PayPoint with an internal ATM on site. There is opportunity to increase sales through extending the opening hours and self management thus reducing staff hours.

Fixtures & Fittings included are 2 x 3.8 m & 1 x 3 m drinks chiller, 1m Ice Cream Freezer & 1.3m Freezer.

The business is currently fully staff run.  There is a genuine reason for sale as the owner is now dedicated to commitments elsewhere.

Financial Information

Leasehold Price
£94,950

Weekly Sales
£11,000

Business Rent
£13,000

Business Council Rates
Zero Rateable

Fixtures & Fittings Value
£30,000

Accounts Available
1 Years

Annual Net Profit
Available on Request

Gross Profit Margin
18 %

Further Details

Lease Terms
18 years remaining

Premises Licence
The premises has an alcohol licence

Employees
4 contracted & 1 non contracted Staff

Commissions on Services
Available on Request

Stock Value Estimated
£25,000

Trading Hours
Monday – Sunday 7am – 9pm

Ground Floor
Retail Area 80.2 m² (864 ft²)
Storerooms Total 26.7m² (287 ft²)

Key Features

•  New residential development due in 2019

•  Profitable CTN & Off Licence Business

•  High Specification Re-fitted Trading Area

•  Opportunity to increase sales

Location

Located on a main road within a row of other businesses in a suburban area of Newcastle upon Tyne.

Location on Map

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Convenience Store & Off Licence Ref 5720