Convenience & Off Licence with 5 Bedroom Property Freehold Property & Leasehold Land
Gateshead, Tyne and Wear
- Status
FOR SALE
- Date Submitted:
12/05/22
- Advert ID
295212
- Reference
5741 / Rightbiz
- Call Agent:
- Freehold: £220,000 (Stock at valuation)
- Leasehold: £220,000
- Turnover: On request
- Net Profit: On request
Key Features
- Established Business
- With Car Park
- Planning Consent Available
- Open Plan Trading Area
- Attractive Business
- Fully Fitted
- Prime Location
Business Details
Convenience & Off Licence with 5 Bedroom Property Freehold Property & Leasehold Land
Convenience & Off Licence with 5 Bedroom Property / Freehold Property & Leasehold Land
Key Features
- Freehold Property & Leasehold Land
- Council Ground Lease
- 5 Bedroom Accommodation
- Sales £5,000 weekly
Situated within a suburb of Gateshead, around 3.5 miles to the south east of the city and halfway between the town centre and Washington, the shop is in the heart of a popular residential area with an established local customer base.
Business
A rare freehold opportunity to purchase a large detached 5 bedroom property with a well established convenience & off licence business. The current owner has been operating the business since 2018. There is car parking available outside the shop.
The shop floor trading area is a large open plan area of 1,177ft² with modern shelving units. Fixtures and fittings include three 2m chest freezers, one standing freezer and four drinks chillers.
The vendor is selling the business due to his current ill health.
Ground Lease
The business is held on a 99 year lease with Gateshead Council in place from 1959 with an annual rental of £350 per year and will remain until the renewal date in 2058. Should the purchaser need a mortgage to buy this property, the lender will require the lease to be renewed for a further 99 years. In this case, the council has stated that the rent will subsequently increase to £2,750 per year with a 5 year review incorporated within.
Business Premises
The business premises consists of the ground floor retail trading area with rear access to three separate internal storage areas, incorporating the kitchen area and W.C.
Accommodation
The accommodation is accessible from a separate entrance at the front of the property with stairs leading to the first floor. Internal rooms incorporate the 5 bedrooms, lounge, kitchen and bathroom with shower unit in good condition and ideal for a family residence. There is currently a short term tenancy agreement in place with the current tenants and generating a rental income of £6,400 per annum.
Please contact us for any further information required.
Staff Employed
Owner run business
Trading Hours
Monday to Sunday 8:00am – 9:00pm
Stock Value Estimated
£18,000
Fixtures & Fittings Approximate Value
£10,000
Commissions on Services
£250/week
Measurements
Ground Floor Retail Area: 109.4m² (1,177ft²)
Ground Floor Storage Area: 50.4m² (542ft²) inc. storage, cupboard and W.C. with rear access
Rateable Value
£8,700
Notice
All information provided is subject to the standard terms and conditions of A1 Businesses Ltd. (trading as A1 Businesses for Sale). See our disclaimer page for more details.
Viewings
Any viewings for the business and/or property are to be made strictly by appointment only through A1 Businesses for Sale. No approach should be made directly to the owner or any of their employees.
Contact Agent
Listing Statistics
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Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
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Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
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Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
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Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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Contact seller
Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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