Substantial Convenience Store in Newcastle Upon Tyne For Sale

Situated in a parade, excellent main road trading position, residential, office and commercial area, TYNE & WEAR NEWCASTLE UPON TYNE

Turnover £ 15,000
Price £160,000

Features

Substantial Convenience Store

Impressive DOUBLE FRONTED PREMISES in the region of 5,000 ft² with ELECTRIC SHUTTERS. CCTV system (32 cameras, 1 monitor). Tiled floor, suspended ceiling with LED lights. Sales counter, 2 EPOS tills, cigarette drawer, modern adjustable shelving, 15 meters glass fronted upright double door drinks display fridge, ice cream freezer, deep freeze, etc.

Stockroom in the region of 2,000 ft²

Office

2 Toilets with w.c. and wash hand basin

Turnover

WE ARE INFORMED by the owner the turnover currently averages £15,000 p.w. with a gross profit of 22% approx. Wholesale newsbill £600 p.w.

WE ALSO UNDERSTAND that in addition to the turnover the business also enjoys a commission of:

NATIONAL LOTTERY £150 per week approx.
PAY POINT £10 per week approx.
LOCKERS £2,000 per year approx.
VAPE DISPLAY Gantry £500 per year

Staff

The business is at present operated by the manager with 1 full time & 5 part time staff.

Trading Hours

7 Day week
MONDAY - SUNDAY 7am - 10pm

Outside

Parking space for 2 cars. Loading bay

Tenure

The vendors own the Freehold and subject to satisfactory references are prepared to grant a new SECURE RENEWABLE 15 years full repairing and insuring lease with rent reviews every 5 years at a rent of £27,000 p.a. for the first 5 years.

Business Rates from April 2023 £9,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2020 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE NEW SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £160,000 plus STOCK AT VALUATION (£60,000 APPROX.)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 80,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote