Sunderland City Centre Off Licence
The business is located in The Bridges shopping centre in Sunderland town centre, Tyne & Wear and within catchment zone of a densely populated area. The Bridges is a shopping centre based in the city centre and contains over 85 stores, reportedly having received 15 million shopping visits in 2019.
This is a very well established Newsagent & Tobacconist which benefits from high footfall and equally high tobacco and alcohol sales. This is a very profitable business and generates high income from commissions from services, Lottery cira £2,000/month, Paypoint circa £600/month and ATM circa £4,800/year. Further commissions from Ignite are £250/quarter and during summer months baggage deposit company Left-it provide an income circa £100/month.
There is currently a passing rent of £30,000 per annum along with the service charge payable of £366/month. Business rates have been discounted 100% since April 2020, previously payable at £800/month. Income from commissions totalling around £36,000 currently outweigh the expenses. The business owner has specified that the business operates on an overall GP margin of 18%. The percentage of tobacco sales is around 60% of overall sales, however the current selling price is set at a 10% profit margin
The business is run by the owner with her brother and 3 members of staff (TUPE rules apply). There is currently a 5 year renewable lease in place. Owner is selling due to other business commitments.
There is huge development within Sunderland town centre including local housing developments and student accommodation, all of which continues to increase the population here. There is scope to increase the opening hours beyond the 5pm closing time to take advantage of the premises licence hours.
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Gross Annual Income
* (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
Monday to Sunday 8:00am-5:00pm
Monday to Sunday 8:00am-11:00pm
Shop Trading Area: 47.7m² (513ft²)
Stockroom Area: 34.1m² (367ft²)
Office Area 8.2m² (88ft²)
Owner, family member and 3 part time staff on 16 hours each (TUPE rules apply)
Stock Value Estimate
5 year renewable lease. 6 months rental deposit required (£15,000+VAT)