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Freehold Newsagent In Gateshead For Sale

Gateshead, Tyne and Wear
Freehold Price:
£265,000 Furniture / Fixtures included
Leasehold:
£45,000 Furniture / Fixtures included
Turnover:
£390,000
Net Profit:
Available on request

A Sockett & Son is a very well established Newsagent trading for over 100 years and in the hands of the current owner for 53 years. The premises has a good sized well fitted trading area stocking a wide range of goods. Primary sales are driven by cigarettes & tobacco, magazines and confectionery lines along with a wide selection of cards, stationery & toys. Services provided include National Lottery, Paypoint, Collect parcels along with a home news delivery service. There is currently 4 full-time/part-time staff in employment. The current owner of the business is selling due to her retirement.

Business Council Rates Annual: £2,080

Business Rent Annual: £9,600

Property Rent Annual: £5,400

Fixtures & Fittings Value: £7,500

Accounts Available: 5 Years

Property Description

This property has 3 levels consisting of ground floor, first floor and basement areas. The ground floor is where the business is situated and consists of an 830 ft² trading area with small storeroom. Ancillary areas include stockroom, office and WC. The first floor houses a spacious 2 bedroom flat with lounge, kitchen and bathroom and leads to the outside terraced area to the rear with panaromic views over Gateshead’s Team Valley. The basement area is well sized and suitable as an additional storage space.

Measurements

Trading Area

Retail Area 77 m² (829 ft²)
Storerooms Total 59.9 m² (645 ft²) with rear access

Accommodation

Bedroom 1: 16.6 m² (179 ft²)
Bedroom 2: 9.6m² (100 ft²)
Lounge: 19.5 m² (210 ft²)
Kitchen: 23.78 m² (256 ft²)
Bathroom: 5.5 m² (59,2 ft²)
Entrance Lobby: 10.2 m² (110 ft²)
Roof terrace: 11.8 m²(127 ft²)

Further Details

Premises Licence
Currently no licence to sell alcohol

Employees
4 full time and part time staff

Commissions on Services
Lottery £200 monthly

Stock Value Estimated
£15,000 – £20,000

Trading Hours:
Monday – Friday 5:30 am – 6:00 pm
Saturday 5:30 am – 5:30 pm
Sunday 5:30 am – 1:00 pm

Key Features

• Well established 100 year old business

• Well presented 2 bedroom property

• Prominent high street location

• Good potential for expansion

Location

The property is centrally located on the main high street of Low Fell, a densely populated residential suburb of Gateshead. The shop itself is on a parade alongside local retailers including coffee shops, bars, restaurants, takeaways and other local businesses. The high street has free on street and off street street parking facilities and is well positioned for public transport links.

Property information

Property:

Available as freehold and leasehold

Leasehold Rent:

£9,600 per annum

Living Accommodation:

This property has 3 levels consisting of ground floor, first floor and basement areas. The ground floor is where the business is situated and consists of an 830 ft² trading area with small storeroom. Ancillary areas include stockroom, office and WC. The first floor houses a spacious 2 bedroom flat with lounge, kitchen and bathroom and leads to the outside terraced area to the rear with panaromic views over Gateshead’s Team Valley. The basement area is well sized and suitable as an additional storage space.

Accommodation

Bedroom 1: 16.6 m² (179 ft²)
Bedroom 2: 9.6m² (100 ft²)
Lounge: 19.5 m² (210 ft²)
Kitchen: 23.78 m² (256 ft²)
Bathroom: 5.5 m² (59,2 ft²)
Entrance Lobby: 10.2 m² (110 ft²)
Roof terrace: 11.8 m²(127 ft²)

Location:

The property is centrally located on the main high street of Low Fell, a densely populated residential suburb of Gateshead. The shop itself is on a parade alongside local retailers including coffee shops, bars, restaurants, takeaways and other local businesses. The high street has free on street and off street street parking facilities and is well positioned for public transport links.

Business Operation

Reasons for selling:

Retirement sale

Trading hours:

Monday – Friday 5:30 am – 6:00 pm
Saturday 5:30 am – 5:30 pm
Sunday 5:30 am – 1:00 pm

Employees:
4 full time and part time staff
Years established:
100+

Other Information

Furniture / Fixtures value:
£7,500 - included in the asking price
Inventory / Stock value:
£1,500,020,000
Leasehold asking price:
£45,000 - Furniture / Fixtures included

Contact Information

    1. Your Address

    2. Optional
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  1. What will 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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