Convenience Stores for sale in Whitley Bay

This business has been SOLD, however we have a range of similar businesses that are still available below...

Convenience Store & Off Licence with 4 Bed Property in Whitley Bay

Whitley Bay, Tyne and Wear, England

  • Freehold Price: £249,995  Price Reduced arrow_drop_down
  • Leasehold Price: £14,995  Price Reduced arrow_drop_down
  • Sold
  • Annual Turnover: £416,000
Seller Reference: 5734
Business Description
Seller Reference: 5734
Business Description
A rare opportunity to purchase a freehold convenience store, newsagent & off licence business with a four bedroom property situated within the coastal town of Whitley Bay. The sale has options of the business premises freehold, the business premises & property freehold or the business leasehold. The sale comes with the additional option to rent the living accommodation above the business should it not be purchased.

Business

Located in the heart of Whitley Bay adjacent to...
A rare opportunity to purchase a freehold convenience store, newsagent & off licence business with a four bedroom property situated within the coastal town of Whitley Bay. The sale has options of the business premises freehold, the business premises & property freehold or the business leasehold. The sale comes with the additional option to rent the living accommodation above the business should it not be purchased.

Business

Located in the heart of Whitley Bay adjacent to the main high street, the shop is well positioned on the road to the metro station and central to a hub of numerous other businesses including restaurants, pubs, banks and other local amenities. The shop floor comprises of a medium sized open plan trading area and re-fitted to a good standard including 3.75m chiller, 1.3m chiller, 2m chest freezer and display gondolas. Ancillary areas include 2 stockrooms with W.C. and rear delivery access. The business further benefits from car parking outside the shop.

The business has been established since 1950 and run by the current owner since 2012.

New terms are available on a leasehold purchase.

Accommodation

The upstairs 4 bedroom property is available to purchase or rent. Please contact us for more information on the accommodation.

1st floor
Lounge, kitchen, bathroom & 1 single room

2nd floor
2 double rooms and 1 single room

Shop Dimensions

Trading Area: 42 m² (452 ft²)
Stockroom Area: 21.28 m² (229 ft²)

Financial Information
Freehold Price (Business & Property)
£249,995

Leasehold Price (Business)
£14,995

Weekly Sales
£8,000

Business Annual Rent
£11,000

Accommodation Annual Rent
£7,200

Business Rates
Current rateable value £4,900
(Business rates relief available please see below *)

Fixtures & Fittings Approximate Value
£5,000

Accounts Available
3 years

Annual Net Profit
£40,000

Gross Profit Margin
23%

* (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 & 1 member of staff

Commissions on Services
Available on Request

Stock Value Estimated
£17,500

Key Features
• Freehold business

• 4 bedroom accommodation

• Close to local amenities

• Excellent town position

• Established for over 60 yrs
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