REF 5803

Post Office, Convenience & Off Licence Store with 5 Bedroom Property

Gateshead

The Location

Situated on the high street of Coatsworth Road in Gateshead, Tyne & Wear. Gateshead is a large town in Tyne and Wear, England, on the southern bank of the River Tyne opposite Newcastle upon Tyne.

The Business

A high turnover Convenience Store & Off Licence with Post Office salary and additional lottery and ATM commissions. The business has a large trading area of over 2,500ft2 with separate Post office and Subway incorporated. Accounts state Post Office Salary income for the previous year ending 31/03/21 is £44,600.

The business is owner operated with a total of 12 staff employed, TUPE rules will apply. The owner has operated the business since 2007 and has heavily invested in developing the business and re-fitting the shop floor out entirely. The business has a premises licence to sell alcohol from 8am to 11pm seven days a week.

Note that both the Post Office and Subway applications are subject to specific terms & conditions. Please contact us for more details.

The Property

The ground floor of the property consists of a modern, bright and open plan trading area which is very well equipped with a number of internal closed chiller units. The modern appearance is enhanced due to the suspended ceiling overhead and ceramic floor tiles throughout. The EPOS service counter is positioned near the entrance to the sales area. A two position post office counter can be found to the rear with stationery and cards displayed alongside. The Subway hot food takeaway unit is also located to the rear and operates between the hours of 10:00am to 4:00pm.

Internal stairway access leads to the first floor incorporating the main storage area, 2 staff toilets and kitchen.

The first floor accommodation consists of 3 separate two bedroom flats, each which include a lounge, kitchen and bathroom. Entry to the flats is located at the front main door accessible via the main street leading directly off Coatsworth Road. Note that entry is not accessible internally from the shop. The flats are currently under short-term tenancy agreements (STTAs) with a current income of £15,000 per annum.

Staff

The business is currently owner-operated with the assistance of 12 full-time and part-time staff. TUPE rules will apply for transfer of undertakings. Further details available on request.

The Opportunity

The owner has limited availability to be able to fully dedicate his time due to other business commitments and feels a new owner/operator would be able to develop the business further.

Measurements

Ground Floor
Retail zone 314m² (3,380ft²) inc Subway & Post Office
Internal storage 30.8m² (331ft²)
Kitchen 6.6m² (71ft²)
Office 4.7m² (50ft²)

First Floor
Internal storage 72.2m² (777ft²)
Staff W/C 5.3m² (58ft²)
Kitchen 3.8m² (41ft²)

Total 437.4m² (4,708ft²)

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.

Business Rent
£35,000

Premises Licence
Licensed to sell alcohol Monday to Sunday 8:00am - 11:00pm

Commission on Services
Lottery/Paypoint circa. £500 monthly
External ATM £5,000 annually

Post Office Commissions
Estimated £48,000 year end 2021

Staff Employed
Owner and 12 members of staff. TUPE rules apply.

Stock Value
Approx. £75,000

Lease Terms
New lease available from the seller.

Trading Hours
Monday to Saturday 8:00am - 10:00pm
Sunday 9:00am - 10:00pm

Rateable Value
£19,500

* (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

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