Convenience Stores for sale in Tyne and Wear

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Polly Franey (July 2015)
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Freehold Price: £424,000 Price Reduced Turnover: £458,000 Gross Profit: £61,600
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Business Description
BUSINESS
Hilton Smythe is delighted to welcome to the market this well-established and busy convenience store and newsagent business in a prime trading location in Easington Lane, Tyne & Wear. The business has been in our clients careful ownership since 1985 and is only now being offered to the market due to our clients desire for a well-deserved retirement.

The business operates 7 days per week and generates a turnover in the region of £460,000 per annum, with a gross profit of approximately 13½%. Our client offers a wide range of convenience items, newspapers, groceries, magazines, tobacco and lottery, as well as Pay Point facilities.

The property was originally two houses, which have been converted into one large convenience store with 6 bedroom accommodation to the first floor, which could be used as owners accommodation or converted into two self-contained flats and let out to generate further income.

The business has built up an enviable reputation within the area for the high quality of the goods offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth referrals.

We feel there is scope to increase the turnover by extending the opening hours of the business. A new owner could also introduce newspaper delivery services or perhaps parcel return services.

This is an excellent opportunity for a new owner to take this already thriving and busy business to the next level; therefore early viewing must come highly recommended to avoid disappointment.

LOCATION
H & B Sahota occupies substantial premises in an ideal trading location on Smiths Terrace in Easington Lane, near Houghton Le Spring, Tyne & Wear. The business is surrounded by densely populated residential areas, therefore benefitting from a very high volume of footfall and passing trade. The business also benefits from ample on-street parking facilities to the front of the premises.

Easington Lane is located in North East England between Houghton-Le-Spring and Easington Village. The village consists of a main street with housing estates either side and is within easy reach by car or bus to Dalton Park retail area and the seaside.

The area of the business is well-served by the public transport system, with a bus stop directly outside the property. The nearest railway station is just over 6 miles away in Seaham. The area is also well-served by the A-roads, with the business being located on the A182, which links to the national A-road and motorway networks. Durham is approximately 7½ miles away and Sunderland is 10 miles away.

PREMISES
Large and substantial property, in a prime trading location, briefly comprising:

Ground floor:

Main sales and display area with:

Perimeter racking and shelving to suit the trade.

Central aisles with shelving.

2 x open chiller units.

3 x freezers.

Serve over counter with electronic cash register, credit/debit card facilities and tobacco gantry to rear.

Office area.

Rear storage area with shelving.

Door to rear yard.

First floor with:

6 x bedrooms.

Living room.

2 x kitchens.

2 x bathrooms.

External with:

Large yard to rear with shuttered garage.

The property is fully alarmed.

TENURE
We are advised Freehold

HOURS
The business is open:

Monday – Friday: 6.00am – 9.00pm

Saturday: 7.00am – 9.00pm

Sunday: 8.00am – 2.00pm & 5.00pm – 9.00pm

STAFF
The business is owner run and managed with 2 x part time staff and family members.

FINANCIAL PROFILE
The business generates a turnover in the region of £460,000 per annum, with a gross profit of approximately 13½%.



Tenure: Freehold

Listed by: Hilton Smythe
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