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Post Office News In Gateshead For Sale

Gateshead, Tyne and Wear, UK
Asking Price:
£120,000
Turnover:
£220,000
Net Profit:
Available on request

• Turnover circa £220,000 per annum.
• Post Office Income circa £115,000 per annum.
• £20,000 per annum commissions from National Lottery.
• Town centre location.
• Long established trading business.
• Currently operated entirely under management.
• Leasehold - £120,000 plus stock.

Property Information

Property:

Leasehold

Lease Terms:

The premises are held by way of a 20 year lease from 2002. The current rent is £17,830 per annum and there is a rent review at the 5th anniversary. A new lease will be available from the landlord.

Leasehold Rent:

£17,830 per annum

Location:

The business forms part of a parade of shops on Jackson Street and located in the centre of Gateshead. The town is situated on the south side of the River Tyne, opposite the city of Newcastle upon Tyne, and is a town which is benefitting from huge levels of infrastructure investment.

Plans have recently been passed for the construction of a new arena to the east of the town and the road access is to be improved with the demolition of the Gateshead flyover and parts of the old High Street. The purpose-built arena, exhibition centre and hotel are anticipated to bring over 300,000 extra visitors a year to the town.

Premises Details:

This is a long-established business which initially traded as a traditional CTN before the Post Office was incorporated in approximately 2013. The business has been placed on the market as the current owners are looking to downsize their business portfolio.

The shop sells a broad range of newspapers, magazines, and confectionery. In addition, the shop has an off licence which the sale of alcohol from 08.00am till 10.00pm.

This is an extremely busy Post Office as demonstrated by the salary of £115,000 per annum but this ensures there is a high footfall in the shop. New owners could naturally expand the lines and trading hours if they wanted.

Size in square feet:
850

Business Operation

Reasons for selling:

Retirement

Trading hours:

Monday - Saturday 6.30 a.m. - 6.30 p.m.
Sunday 8.00 a.m. - 4.00 p.m.

Employees:
Currently ran under management
Years established:
8

Other Information

Post office salary:
£115,000 per annum

Contact North East Commercial

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