Great opportunity to buy this convenience store & off licence with attached spacious 3 bedroom property and additional 1 bedroom property to the side and garden & garage to the rear.
The property is located in the Fenham area of Newcastle upon Tyne to the west of the city centre. Long established business close to the city centre and populated within a dense residential and student area with schools and local amenities nearby. Situated on a busy main road with car parking outside the shop.
Trading area comprises 2m chest freezer, 4 x 1 m drinks chiller, 2 m chiller and separate kitchen & WC. The business has been run by the current owner since 1981. The sale is due to retirement by the current owners
The main accommodation comprises of a very spacious 3 bedroom 2 storey house. A doorway from the shop leads to the living room and onto a large kitchen area to the rear of the property. The stairs lead up to the landing and onto a further lounge and dining area and the 4 bedrooms. The 1 bedroom accommodation to the right side of the building compromises of a bedroom, lounge, bathroom with W.C. And kitchen. To the rear of the kitchen there is a door leading to the garden area which houses a garage.
Please contact us for further information on the accommodation.
Trading Area 97.4m² (f²) Stockroom Area 8m² (f²) with rear access
Main Accommodation Dimensions
First Floor Living Room 20.9m² (225 f²) Kitchen 27.4m² (295 f²) Bedroom 8.3m² (89.3 f²)
Second Floor Living Room 20.4m² (219.6 f²) Kitchen 11.5m² (123.8 f²) Bedroom 18.2 m² (195.9f²) Bedroom 13.9 m² (149.6 f²)
Financial Information Freehold Price (Business & Property) £425,000
Leasehold Price £75,000
Business Rent £12,000
Accommodation Rent (3 Bedroom) £5,400
Weekly Sales £10,000
Business Rates Current rateable value £7,800 (Business rates relief available please see below *)
Fixtures & Fittings Approximate Value £15,000
Accounts Available 3 years
Annual Net Profit Available on request
Gross Profit Margin 20%
* (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 run business
Commissions on Services £600/month
Stock Value Estimated £25,000
Trading Hours Monday – Friday 7:00 am – 7:30 pm Saturday 8:00 am – 8:00 pm Sunday 8:00 am – 4:00 pm
Key Features • Freehold business
• 4 bedroom accommodation
• Additional 1 bedroom accommodation
• Car parking outside the shop
• Dense residential and student area
• Established for nearly 40 yrs
Location The property is located in Fenham of Newcastle upon Tyne to the west of the city centre. The area has a large number of students and close to the Town Moor. The property is located within a residential area.
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