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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
Current rateable value £4,700
(Business rates relief available please see below *)

Fixtures & Fittings Value
£30,000

Accounts Available
1 Years

Annual Net Profit
Available on Request

Gross Profit Margin
18 %

* ( 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
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