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Convenience, Newsagent & Off Licence

Spennymoor, County Durham

£69,950 Leasehold (Ref 5721)

Business Description

A well established Newsagent & Off Licence located in the town centre of Spennymoor in County Durham. The business is situated centrally surrounded by a number of other businesses. Finance option is available to purchase the lease.

Weekly sales excluding services average £11,000. Sales including services are an additional Lottery £4,000 and PayPoint £13,800 . There is scope for a new owner to self run and develop the business and save on the current weekly wage bill of £2,300.

The shop floor has an extensive magazine selection along with standard confectionery lines, off licence and a large greetings card display.
The shop is well fitted to a high standard with a large counter/tobacco area, modern shelving throughout with two large central gondolas and two large chillers. 

Ancillary areas include a stockroom to the back of the shop with rear access.  Rear stairs lead to a large upstairs floor area with stockroom, tobacco cupboard, 2 office areas, a kitchen and WC. 

Strong sales turnover of News & Magazines of around 36% with Cigarettes & Tobacco Sundries around the same. The shop offers a newspaper delivery service to the local town and has a large 18 round news bill.

This business is currently run by the branch manager and staff. The reason for sale is the owner’s change of personal circumstances meaning he no longer has the capacity to manage the business.

Financial Information

Leasehold Price
£69,950

Weekly Sales
£11,000

Business Rent
£18,000

Business Rates
Current rateable value £7,700
(Business rates relief available please see below *)

Fixtures & Fittings Value
£20,000

Accounts Available
5 Years

Annual Net Profit
Available on Request

Gross Profit Margin
22 %

* (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
5 part time and 2 full time staff

Commissions on Services
Lottery £10,400 per annum
Other Services £2,500 per annum 

Stock Value Estimated
£20,000

Trading Hours
Monday – Thursday 5am-6pm
Friday 5am-7:30pm
Saturday 6am-7:30pm
Sunday 6am-1:00pm

Ground Floor
Retail Area 69 m² (742 ft²)
Storerooms Total 41.5 m² (447 ft²)

Key Features

•  Town centre location

•  Finance option is available

•  High footfall from services 

•  Well fitted & merchandised trading area

•  Large stockroom and office area

•  Established for over 50 years

Location

Located centrally within the town centre of Spennymoor in County Durham. The newsagent is in a hub alongside a number of other long established businesses.

Location on Map

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Convenience Store & Off Licence Ref 5721