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Retail premises for sale

£29,500

4 King George Avenue, Gateshead NE11

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Property description

Business

Price Negotiable

Hilton Smythe are proud to present to the market Henry’s Discount Liquor Store.

The well-known off licence has been an established business since the 1960’s and our client has owned the business since 2008 but now has reluctantly decided to sell due to health reasons. The business currently sells products such as alcohol, confectionary and cigarettes. Our client feels the right new owner could take this already thriving, popular business to the next level and help it reach its full potential.

The business is currently turning over a figure of 276,000 per annum with a gross profit circa of 20%, although we agree this is an excellent figure, we feel there is a scope to improve it by possibly adding the lottery to increase the turnover figure, fit a paypoint machine externally and introduce a home delivery service of alcohol to residents in the local area.

The off licence benefits highly from the locals and passing trade in the area. The business is regularly getting repeat trade and could benefit from a social media page just to keep customers and locals up to date on new products, news in the area and opening hours.

We feel an early viewing on this business would be highly beneficial to avoid disappointment.

Location

Henry’s Discount Liquor Store is located in the town of Gateshead, Tyne and Wear. The popular off licence is part of retail parade just off the main road. The busy business is surrounded by residential homes and thriving businesses including a tanning salon, Chinese takeaway and a bakery. There is also free car parking to the front of the business.

Gateshead is a large town in Tyne and Wear. The town is known for its architecture including items like the Angel of the North and Baltic Centre for Contemporary Art. According to the 2011 Gateshead is home to 120,046 people.

The area has a public transport system running within the town and has several bus stops within walking distance of the business. Dunston train station is a 5-minute walk away from Henrys and takes you directly to Newcastle town centre, the Metrocentre shopping centre, Carlisle and many more. The A1 runs nearby.

Premises

The business is very well signed and advertised as an off licence, the property is a double fronted premise with ample car parking outside the store.

The business is an open plan premise with a wall and centre displays for products. To the left of the shop is a refrigerated section with 2 double upright chillers, 5 single upright chillers and a freezer stocked with products. The serving area is to the front of the shop with a confectionery display and a cigarette gantry.

Behind the serving area and to the rear of the store are two stock rooms, one which is fitted with a toilet. To the right of the shop are various wine racks and displays. The business premise is very spacious and has a variety of products showing for sale.

All fixtures and fittings are included in the sale.

Tenure

We are advised that the business is Leasehold.

We are advised that the original lease length is 20 years and there are 8 years remaining.

Rent £1,550 per quarter.

Hours

The business is open from:

Monday – Saturday: 8:00am – 10:00pm

Sunday: 10:00am – 10:00pm

staff

The business is currently run by the owner and 3-part time staff.

Financial profile

The business reports an annual turnover of £276,000 per annum and has a gross profit of 20%.

What Zoopla users think of Dunston

Overall rating:

  • currently 3.5 stars
Good - 65% (42 ratings)

Ratings breakdown:

  • currently stars
Community & safety
  • currently stars
Entertainment & nightlife
  • currently stars
Parks & recreation
  • currently stars
Restaurants & shopping
  • currently stars
Schools & public services
  • currently stars
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  • currently stars
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  • currently stars
  • 1
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  • 5
Parks & recreation
  • currently stars
  • 1
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  • 3
  • 4
  • 5
Restaurants & shopping
  • currently stars
  • 1
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  • 3
  • 4
  • 5
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  • 1
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  • currently stars
  • 1
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Nearby transport

  • Dunston (0.3 miles)
  • MetroCentre (1.0 mile)
  • Newcastle (1.9 miles)
  • Newcastle Airport (6.5 miles)
  • Durham Tees Valley Airport (31.6 miles)
  • Leeds Bradford International Airport (74.8 miles)
  • Newcastle International Ferry Terminal (8.5 miles)
  • South Shields Ferry Terminal (8.9 miles)
  • North Shields Ferry Terminal (9.0 miles)

Nearby schools

View all schools in Gateshead
  • Dunston Hill Community Primary School (0.2 miles)
  • St Philip Neri Roman Catholic Primary School (0.5 miles)
  • Riverside Primary Academy (0.6 miles)
  • Newcastle College (1.5 miles)
  • NCG (1.5 miles)
  • Newcastle Sixth Form College (1.6 miles)
  • Kingsmeadow Community Comprehensive School (0.3 miles)
  • Emmanuel College (0.7 miles)
  • Whickham School (1.6 miles)
Note: Distances are straight line measurements

Local info for Gateshead

About the neighbours in NE11

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For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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