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Freehold 2 Bedroom Property with Newsagent, Tobacconist & Off Licence

Ashington, Northumberland

FREEHOLD £299,995 (Ref 5728)

Description

An excellent opportunity to acquire a Freehold 2 bedroom property with a well established Newsagent, Tobacconist & Off Licence business. The property is located in Ashington, Northumberland on a busy main road within a residential area situated close to local amenities. We are advised that the business has been established and trading for over 100 years.

Business

A profitable business with an established local customer base giving consistent weekly sales. With a generous sized well laid out trading area there is plenty of scope to develop the business and further increase sales through introducing convenience goods such as grocery and domestic products . 

The business currently offers confectionery, drinks and magazines with a wide range of wines & spirits and self packaged loose tobacco. Further services include home news delivery, lottery, pay point, parcel delivery and  an external cash machine, all generating good commissions on a monthly basis.  The trading area is refitted to a very good standard with modern shelving units, 2 x 1.2 m chillers and a 1.5 m freezer along with EPOS till system, CCTV and a coffee machine.

The business is currently staff run by 13 part time staff with minimal involvement from the owner.  Further benefit could be gained from running the business hands on and reducing staffing expense.

The current owner has been trading for over 20 years and has brought the property to market for early retirement.

Property

The property comprises of the ground floor trading area with front entrance leading through to a 956.6 f² shop floor area, with doors to the rear leading to the office and ancillary areas including stockroom and WC. To the rear of the stockroom the back door leads to the bin stores and stairs to the left leading to the property.  Following the stairway takes you across a large front area and to the front door of the accommodation. Doorway leads into a small hallway with bathroom to the right and doorway to the left leading to a very spacious living room area. To the rear there are 2 doors with the left leading to a good sized kitchen with dining area. The right door leads a small hallway with further doors leading to the master bedroom to the right which has built in wardrobes and a slightly smaller second bedroom to the left. The property is finished to a good standard with full central heating, double glazing and carpeted floors throughout. 

Shop Dimensions

Trading Area 88.87 m² (956.6 ft²)
Stockroom Area 35.53 m² (382.5 ft²) with rear access

Accommodation Dimensions

Living Room 25 m² (270 ft²)
Kitchen 15.35 m² (165.23 ft²)
Bathroom 6.28 m² (67.6 ft²)
1st Bedroom 14.23 m² (153.17 ft²)
2nd Bedroom 19.8 m² (213.13 ft²)

Financial Information

Freehold Price
£299,995

Weekly Sales
£9,500

Business Rates
Current rateable value £9,600 *
(Business rates relief available please see below *)

Fixtures & Fittings
£25,000

Accounts Available
5 Years

Annual Net Profit
£17,000

Gross Profit Margin
21 %

* ( 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

Premises Licence
The premises has a licence to sell alcohol 

Employees
13 part time non contracted staff

Monthly Commissions on Services
Lottery £250
Cash Machine £70
Parcel collection £240

Stock Value Estimated
£20,000

Trading Hours
Monday – Friday 6:30 am – 7:00 pm
Saturday 6:00am – 7:00pm
Sunday 6:00am – 3:00pm

Key Features

• Rare freehold opportunity
• 2 Bedroom property
• Profitable business
• Modern re-fitted trading area
• 5 years accounts available
• Over 100 years established

Location

Located in Ashington near the town centre. Ashington is an old mining town in Northumberland and lies 15 miles north of Newcastle upon Tyne. The business is situated on a busy road and close to local amenities within a local residential area.

Google Map Location

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Business Sales Ref 5727