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Listing ID: 2979754

NEWCASTLE UPON TYNE CITY CENTRE NEWSAGENT - URGENT For Sale

11 QUEEN STREET, Newcastle upon Tyne, Tyne and Wear, England

£ 55,000

(Furniture / Fixtures included)

Revenue: £ 250k to 500k

Cash Flow: £ 100k to 250k

Business Description

IN CURRENT OWNERSHIP FOR 17YEARS SINCE OPENING
LEASEHOLD - UP FOR RENEWAL UP TO 25 YEARS
RENT - £10,500 PER ANNUM - (£202 PER WEEK+vat)
NO RATES – NOT PAYABLE – RATES FREE (AS RATEABLE VALUE IS LOW)
ELECTRIC - ALL LIGHTS LED , FRIDGES ON TIMERS - APPROX. £80 PER WEEK
GOOD PAPER ROUND TO LOCAL BUSINESSES INCLUDING TYNE TEES TV
ONLY LOTTERY SHOP IN THE AREA
ONLY OFF LICENCE ON THE QUAYSIDE AREA FROM 6AM – 12MIDNIGHT.
APPROACHED BY POST OFFICE TO BE LOCATED IN THE SHOP . CAN PROCEED with APPLICATION WITH NEW OWNERs – PROJECTED COMMISSION £15,000 PLUS. WILL BE THE ONLY POST OFFICE ON THIS SIDE OF CITY CENTRE
INTERNAL ATM , CCTV INTERNAL AND EXTERNAL.
SALES PER WEEK INC NEWS DELIVERY ROUND approx £8,000 - PROJECTED WITH POST OFFICE APPLICATION TO £10,500 PER WEEK.
CAN IMPROVE AND INCREASE SALES WITH MORE EXTENSIVE OFF LICENCE RANGE , PROMOTION OFFERS, CHILLED AND FROZEN FOOD . DEVELOPING RESIDENTIAL AREA AS WELL AS OFFICES, HOTELS, BARS , RESTAURANTS. SALES HAVE BEEN IN PAST BETWEEN £11000 - 12500 PER WEEK.
BASEMENT FLOOR FOR STORAGE OR CONVERTED INTO 1 BED STUDIO.

FINAL REDUCTION QUICK SALE PRICE :
REDUCED TO £55,000 ONO plus SAV
SALE DUE TO FAMILY HEALTH PROBLEMS AND CARING RESPONSIBILITIES

Please contact us for more details.

Property Details

Size:

SHOP FLOOR - 989 SQ.FT BASEMENT - 950 SQ.FT

Years Established:

17

Property Type:

Lease

Inventory Value:

£ 10,000

Other Details

Business Location:

CITY CENTRE , NEAR RIVERSIDE,UNDER TYNE BRIDGE ( ICONIC LAND MARK)

Premise Details:

LEASEHOLD - 20 TO 25 YEARS LEASE RENEWABLE RENT - £10500 PLUS VAT . NO BUSINESS RATES (EXEMPTED) ONLY OFF LICENCE, NEWSPAPERS AND LOTTERY OUTLET . PREMISES AMONGST HOTELS, BARS, RESTAURANTS AND OFFICES AND TOURIST AREA

Competition:

NEAR BY SHOPS ONLY SELL DRINKS , SWEETS , CIGARETTES

Expansion Potential:

MORE RANGE OF OFF LICENCE AND OFFERS, CIGARETTES AND CIGARS, FROZEN FOOD , POST OFFICE OFFERED

Planning Consent:

GRADE 2 LISTED BUILDING - ONLY REQUIRE PLANNING FOR EXTERNAL ( SHOP FRONT)

Operation Details

Employees:

3 PART - TIME - I FULL TIME

Trading Hours:

MON - THURS - 7.00AM TO 10.30 PM FRI- SAT - 7.00AM - 11.30PM SUN - 8.30 AM - 6.00PM

Support & Training:

IF REQUIRED ON EPOS SYSTEM GIVEN

Miscellaneous

Reason For Selling:

CARING FOR ELDERLY DISABLED FATHER SINCE MY MOTHER PASSED AWAY THREE YEARS AGO

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Registered Address:
Dynamis Limited. Dynamis House, 6-8 Sycamore Street, London, EC1Y 0SW. United Kingdom.
VAT No. 747791385 Company
Registration Number: 3788210

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