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%.
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