BusinessHilton Smythe welcomes to the market an exciting opportunity to acquire (on a leasehold basis) an exceptionally well run and performing, “turn key” traditional discount store business with an excellent reputation associated with a strong and consistent brand located in a popular area within the city of Newcastle.The business has only now come to the open market as it is our clients desire to pursue other business interests after successfully running the shop for many years.
The business has been in this location for many years, being under the careful and meticulous ownership of our client since 2008 and who has grown the business year on year to an impressive level with turnover and profit levels growing steadily. The business offers a friendly, personal service selling all manner of household products from cleaning to painting, kitchen ware, confectionary, soft drinks, novelty items and many more every day consumables.The premises are in fantastic general condition having undergone a programme of refurbishment over the years and can be found in true “turn key” condition.We feel there is still plenty of scope to further increase turnover with the revision of opening hours, along with undertaking a modest marketing campaign via local press, social media and perhaps local radio. In addition to expanding the retail lines currently stocked and perhaps the introduction of a dedicated website to increase the profile of the business along with the introduction of a dedicated parcel pick up & drop off point
The business is immaculately presented and is truly one of the finest “turn key” operations available to purchase.
Reasons to buy:
- Trading with same owner since 2008,
- Ideal trading location,
- Massive potential for growth,
- Turn key business opportunity.
Very rarely do businesses of this calibre come to the open market therefore, early viewing must come highly recommended to avoid disappointment.LocationThe business is located on the popular & busy Adelaide Terrace in the Benwell area of Newcastle (NE4) surrounded by a wealth of complimentary, independent businesses & benefits from being in a high footfall residential area & as such has built up a loyal customer base over the yearsThe surrounding areas enjoy a good range of local services including shops, schools and pubs.The area also provides excellent transport links with a regular bus service into Newcastle city centre.
The A69 and A1 trunk roads are also both close at hand allowing great access to the motorway network. Newcastle International airport is also within easy reachPremisesThe business occupies a substantial ground floor retail premises extending to 96.45 m2, which has undergone a programme of refurbishment over the last few years, resulting in it being in turn key condition.Main ShopEntered from street level into a bright & welcoming main shop / display area, & service counter area with a centre display isle, complimented with perimeter shelving to utilise the space for stock displayRear Shop AreaTo the rear of the shop is an office space area, with further storeroom / kitchen area to the rear of the premises with door leading to the rear of the premises with ample space for deliveries.The premises further benefits W/C area. alarm & CCTV.The business is well signed & easily visible in the busy trading locationTenureWe are advised that tenure is offered on a leasehold basis
A new 5-year lease will be initially offered by the landlord
Rent £14,400 per annum
No Rates payableHoursMonday – Saturday 0900 – 1700
Sunday - 1000 - 1400Staff2 – full time staff membersFinancial Profile
The business reported a turnover of £273,000. No accounts were seen at the time of booking