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

Whitley Bay, Tyne and Wear
Freehold Price:
£249,995
Leasehold Price:
£14,995
Status
FOR SALE
Advert ID
241411
Reference
5734 / Rightbiz
07914578733

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

Freehold Price (Business)
£149,995

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

Trading Hours
Monday – Saturday 7:00 am – 9:00 pm
Sunday 8:00 am – 9:00 pm

Key Features

• Freehold business

• 4 bedroom accommodation

• Close to local amenities

• Excellent town position 

• Established for over 60 yrs

Location

The property is located in the centre of the coastal town of Whitley Bay, surrounded by local amenities and only 200 yards from the local metro station.

Listing Details
Freehold Price: £249,995
Leasehold Price: £14,995
Tenure: Freehold
Tenure: Leasehold
Location: Whitley Bay, Tyne and Wear
Marketed By: A1 Businesses For Sale
Sector: Childrenswear Businesses, Convenience Stores, Off Licences
Financials
Annual Turnover: £416,000
Annual Net Profit: Available upon request
Key Features
  • Town Centre location
  • Prime Location
  • Accounts Available
  • Price Further Reduced
  • With Accommodation
  • Fully Fitted
  • Attractive Business
  • Potential for Alternative Use
  • With Car Park
  • Close to Local Amenities
  • Established Business
Contact Agent
Telephone: Upgrade to view
Agent Name: Upgrade to view
Advert Reference: 5734 / Rightbiz
What's nearby
Within 1 milei:
M L J Installations (Point Of Interest)
Marine Avenue-Marine Court (Bus Station)
49 Marine Avenue Surgery (Doctor)
Whitley Bay Clinic (Physiotherapist)
Marine Avenue Supported Accommodation (Lodging)
Marine Avenue Dental Practice (Dentist)
Omni Cafe (Cafe)
Truly Madly Deeply Bridal (Clothing Store)
Salon M (Hair Care)
Honeycomb Deli (Store)
Listing Statistics
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Find out more about the business by contacting the seller