Convenience and Off Licence Store for Sale in Newcastle upon Tyne with Rent Free Until 2085
Newcastle upon Tyne, Tyne and Wear
- Status
FOR SALE
- Advert ID
636473
- Reference
6103 / Rightbiz
- Call Agent:
- Leasehold: £125,000 (Stock at valuation)
- Turnover: On request
- Profit: On request
Key Features
- Established Business
- Price Reduced
- Accounts Available
- Prime Location
Business Details
59 Years Rent Free Convenience & Off Licence Store Store in Newcastle
Key Features
- OFFERS OVER £125,000
- 59 Years Rent Free
- Weekly sales avg. £4,243 (Feb 26 - Apr 26)
- No Lottery or PayPoint services
- Highly affluent area
- Sale due to personal circumstances
Viewings
Any viewings for the business and/or property are by appointment only. Under no circumstances should any direct approach be made to the owner or their employees.
The Location
The business is located in South Gosforth, a suburb of Newcastle upon Tyne situated 2.5 miles north of the City Centre. A highly desirable location within an affluent residential area incorporating a number of local amenities. The location benefits from transport links providing access across the region including close proximity to South Gosforth Metro station transport link nearby.
Business
This well established general store and off licence has been under the ownership of our client since 2009. This licensed premises offers a range of beers, wines and spirits along with confectionery, drinks, snacks, cigarettes and a good selection of vapes.
Business Premises
The ground floor premises incorporates shop trading area with ancillary areas incorporating internal storage, kitchen, garage and W.C. to the rear.
Fixtures & Fittings
Equipment includes 3.7m standing chiller, 2m chest freezer and CCTV system.
Opportunity
This is a rare opportunity to purchase a leasehold business and premises with a nearly 60 year rent free period. The business is currently operating below its full potential due to the personal circumstances of the owner and there is potential for a new owner to reinvigorate the business. National Lottery can be introduced or extending the opening hours past the current closing time to take advantage of the premises licensing hours.
Trading Accounts
Trading accounts can be made available following a viewing of the business.
Staff Employed
The owner is working approx. 45hrs with 2 employees working 20hrs and approx. 10hrs. TUPE rules may apply.
Business Premises Rent: Rent free until July 2085
Weekly Sales: £4,600 average 4 months (April 25 to July 25)
Rateable Value: £7,900
The rateable value is used to calculate your rates bill so this is not the amount you will pay
Trading Hours
Monday to Saturday 11:00am to 9:30pm
Sunday 12:00pm to 9:30pm
Premises Licence Hours
Monday to Sunday 8:00am to 11:00pm
Additional Services
No PayPoint or National Lottery services
Property Type
A1/A2 Retail and Financial/Professional Services
EPC Rating
Energy Rating D valid until 8 March 2033
Tenure
LEASEHOLD only
No rent payable until 3 July 2085.
Business Measurements
Ground floor retail zone 41.7m² (449ft²)
Ground floor internal storage 11m² (121ft²)
Ground floor kitchen 7m² (75ft²)
Ground floor garage inc. W.C. 11.2m² (121ft²)
Ground floor Total 70.9m² (762ft²)
Disclaimer Notice
The information shown for the business is based on a site assessment and financial documentation provided to us, A1 Businesses Ltd. by the vendor. We have been informed by the vendor that the financial information provided to us is correct and reliable at the time of marketing. We, A1 Businesses Ltd cannot accept liability as to the accuracy of this information and advise any interested parties to make their own enquires in order to satisfy themselves that all information provided, particularly financial, is satisfactory before making any commitment to purchase the business.
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.
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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.
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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.
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Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
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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.
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
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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