REF 5806

Convenience Store & Off Licence with Very Low Rent

South Shields

Location

Located on the outskirts of South Shields, 2 miles from the town centre. South Shields is a coastal town at the mouth of the River Tyne, about 3.7 miles downstream from Newcastle upon Tyne in the north east England.

The Business

The business is currently operating as a convenience store and off licence. The trading area has been re-fitted to a good standard by the current owner with a high gloss floor, suspended ceilings with led lights and a large 3.75m drinks chiller. The store stocks a good range of convenience goods, chilled soft drinks, frozen foods, news, magazines and alcohol consisting of beers, wines & spirits. The shop has been established for over 20 years with a good loyal customer base.

The site is situated within a densely populated residential area and very close to the site of a new local housing development. There are 3 years of audited accounts available upon request following viewing.

Opportunity

A rare council lease opportunity with a low rent of £2,500. There is the opportunity for a new owner to run the business and increase profitability by reducing staff hours.

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.

Price

£50,000

Tenure

Leasehold

Gross Annual Income

£286,000

Annual Rent

£2,500

Rateable Value*

£1,600

* (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

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

Premises Licence
Monday To Sunday 8:00am - 11:00pm

Services Commissions
Lottery Commissions £6,000/year
ATM Cash Machine £2,760/year

Staff Employed
1 full time staff on 40hrs and 2 part time on 24 and 16hrs

Lease Terms
6 year renewable council lease

Stock Value
Approx. £15,000

Measurements
Ground Floor Retail Zone: 58m² (624ft²) inc. Trading Area, Storage and W.C.

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