Convenience Stores for sale in Durham

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Two Individual 3 Bedroom Properties with Convenience Store Business

Durham, County Durham, England

  • Freehold Price: £299,950
  • Annual Net Profit: £19,319
Seller Reference: 5722
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Business Description
 
 
 
 
 
 
 
 
 
 
 
 
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Seller Reference: 5722
Request Details
Business Description
An excellent opportunity to purchase a sizeable freehold property on three levels. The building comprises of a convenience store business on the ground floor and two well presented three bedroom properties above over two floors.

Business

The business has been established for nearly 30 years. The owners no longer have time for the business and believe a new owner could develop it further by capitalising on the local residential catchment area to increase sales. Trading hours could be extended and new product lines could be introduced. The 904 ft² trading area is well merchandised with f&f’s including 3 gondolas, modern shelving, 2 x 1.3m drinks chiller, 2 x 2m freezers and a 1.8m drinks chiller. Product lines for sale include grocery, alcohol, cigarettes, cards & domestic products, E-cigarettes & sundries.

Properties

The properties comprise of two identical properties, one to the left hand side of the building and one to the right. Each has a ground floor front entrance through to stairs leading to the 1st floor comprising of the lounge, kitchen & bathroom and 1st bedroom. Stairs lead to the 2nd floor on to the 2nd and 3rd bedroom. The properties are finished to a high standard with full central heating, double glazing and wooden floors throughout. The owners currently rent out each of the properties individually for a total gross income of £10,800 per year (£5,400 per property).

Accommodation Dimensions

1st Floor
Living Room (22m²)
Kitchen (7.7m²)
Bathroom (4.7m²)
2nd Bedroom (7.7m²)
Hallway (10.8m²)

2nd Floor (Roof Space)
Bedroom 2 (19.2 m²)
Bedroom 3 (30.6 m²)
(ceiling slopes from height 2.8m to 0.8m)

Reason for Sale

The current owner is looking to retire and to sell after 28 years of trading.

Financial Information
Freehold Price
£299,950

Weekly Sales
£3,500

Business Rent
N/A

Property Rent
£5,400 Annually (Per Property)

Business Council Rates
Zero Rateable

Fixtures & Fittings Value
£10,000

Accounts Available
3 Years

Annual Net Profit
£19,319 (Accounts 2017)

Gross Profit Margin
18%

Premises Licence
The premises has an alcohol licence

Commissions on Services
Lottery & Paypoint

Stock Value Estimated
£10,000

Ground Floor
Retail Area 84 m² (904 ft²)
Storerooms Total 15 m² (161 ft²)
Trading hours:
Monday -Saturday 9am-8pm Sunday 9:00am – 8:00pm
Number of employees:
No employees
Tenure:
Freehold
Is accommodation included?:
Two Individual 3 Bedroom Properties The properties comprise of two identical properties, one to the left hand side of the building and one to the right. Each has a ground floor front entrance through to stairs leading to the 1st floor comprising of the lounge, kitchen & bathroom and 1st bedroom. Stairs lead to the 2nd floor on to the 2nd and 3rd bedroom. The properties are finished to a high standard with full central heating, double glazing and wooden floors throughout. The owners currently rent out each of the properties individually for a total gross income of £10,800 per year (£5,400 per property).
Location Details:
Located in Witton Gilbert in the heart of a residential area within a suburb of County Durham.
Listed by:
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