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Convenience Store & 4 Bed Property

Whitley Bay, Tyne & Wear

FREEHOLD £260,000 /£160,000 LEASEHOLD £29,995 (Ref 5734)

Description

A rare opportunity to purchase a freehold convenience store, newsagent & off licence business with a four bedroom property situated within the coastal town of Whitley Bay. The sale has options of the business premises freehold, the business premises & property freehold or the business leasehold. The sale comes with the additional option to rent the living accommodation above the business should it not be purchased.

Business

Located in the heart of Whitley Bay adjacent to the main high street, the shop is well positioned on the road to the metro station and central to a hub of numerous other businesses including restaurants, pubs, banks and other local amenities. The shop floor comprises of a medium sized open plan trading area and re-fitted to a good standard including 3.75m chiller, 1.3m chiller, 2m chest freezer and display gondolas. Ancillary areas include 2 stockrooms with W.C. and rear delivery access. The business further benefits from car parking outside the shop.  

The business has been established since 1950 and run by the current owner since 2012.

New terms are available on a leasehold purchase.

Accommodation

The upstairs 4 bedroom property is available to purchase or rent. Please contact us for more information on the accommodation.

1st floor
Lounge, kitchen, bathroom & 1 single room

2nd floor
2 double rooms and 1 single room

Shop Dimensions

Trading Area: 42 m² (452 ft²)
Stockroom Area: 21.28 m² (229 ft²) 

Financial Information
Freehold Price (Business & Property)
£260,000

Freehold Price (Business)
£160,000

Leasehold Price (Business)
£29,995

Weekly Sales
£8,000

Business Annual Rent
£11,000

Accommodation Annual Rent
£7,200

Business Rates
Current rateable value £4,900
(Business rates relief available please see below *)

Fixtures & Fittings Approximate Value
£5,000

Accounts Available
3 years

Annual Net Profit
£40,000

Gross Profit Margin
23%

* (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
Owner & 1 member of staff  

Commissions on Services
Available on Request

Stock Value Estimated
£17,500

Trading Hours
Monday – Saturday 7:00 am – 9:00 pm
Sunday 8:00 am – 9:00 pm

Key Features

• Freehold business

• 4 bedroom accommodation

• Close to local amenities

• Excellent town position 

• Established for over 60 yrs

Location

The property is located in the centre of the coastal town of Whitley Bay, surrounded by local amenities and only 200 yards from the local metro station.

Google Map Location

2 Bedroom Property with Convenience Store & Off Licence

Hartlepool (Ref 5717)

Sales £7,500 PW

Prime Location

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Two 3 Bedroom Properties & Convenience Store

Witton Gilbert (Ref 5722)

Sales £3,500 PW

Rent Income £10,800

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2 Bedroom Property with Convenience Store & Off Licence

Darlington (Ref 5684)

Sales £9,000 PW

Nearby Development

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3 Bedroom Property with Convenience Store & Off Licence

Darlington (Ref 5725)

Sales £3,500 PW

LEASEHOLD £17,500

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Arrange a viewing or contact us for more information

Please call us on 01904 867175 for more information on this or any other business or alternatively fill in our enquiry form below.

Business Enquiry Form

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Business Sales Ref 5734