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Convenience Store In Wallsend For Sale

Wallsend, Tyne and Wear
Asking Price:
£100,000 Furniture / Fixtures included
Turnover:
Available on request
Net Profit:
Available on request

• Main road location within mixed area.
• Sales shop extends to 1,300 sq.ft. plus stores of 440 sq.ft.
• Sales £12,000 weekly plus income from Lotto, Paypoint and internal ATM.
• 1 x 2 bedroom and 1 x 3 bedroom flat plus 1 x 3 bedroom house.
• Income from flats is £11,700 per annum with house currently vacant.
• FREEHOLD PRICE £450,000 plus stock at valuation.
• LEASEHOLD OPTION £100,000 plus stock at valuation.

Property information

Property:

Leasehold

Lease Terms:

A new lease, to include 2 Charlotte Street, would be available at a commencing rent of £500 per week. Lease terms to be agreed.

Leasehold Rent:

£26,000 per annum

Living Accommodation:

2 Charlotte Street (occupied by client)
Lounge
Kitchen
Shower room
First Floor
3 x bedrooms
Bathroom

Location:

The property is located at the junction of High Street East with Charlotte Street and forms part of a busy secondary shopping area serving a densely populated residential area. This is the main road running through Wallsend and there are high levels of traffic.

Premises Details:

This opportunity comprises a long established business which has been in the clients’ ownership since 2001 but is being placed on the market as they wish to retire. The premises offer a modern and spacious retail area together with stores to the rear plus a separate garage.

The premises were refurbished in 2010 and are fully fitted and equipped for the trade with very little for any new owner to attend to on takeover. There are high levels of captive trade from the local residents, workers and other local shop occupiers but the busy main road also generates a certain level of passing trade.

To the first floor there are two separate flats, both of which are currently rented out and the client occupies a two storey house to the rear which could be owner occupied or rented out to generate another income stream. Viewing is recommended to appreciate this rare opportunity and the available accommodation.

Property

Comprises an end terraced two storey property with ground floor retail shop and 3 separate dwellings.

221 - 225 High Street East
Ground Floor
Retail Area 121 m² (1,300 ft²).
Stores totalling 41 m² (440 ft²).
Garage 45.3 m² (486 ft²) with electric shutters

2 Charlotte Street (occupied by client)
Lounge
Kitchen
Shower room
First Floor
3 x bedrooms
Bathroom

Size in square feet:
1,200
Energy Performance Rating:
C

Business Operation

Reasons for selling:

Retirement sale.

Trading hours:

Monday – Saturday 7.30 am – 10.30 pm
Sunday 8.00 am – 10.00pm

Employees:
The business is available free of staff.
Years established:
15 years

Contact Information

    1. Your Address

    2. Optional
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  1. What will I happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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