• Post Office Income circa £50,000 per annum.
• Designated as “Main Office” to include banking services.
• Shop sales circa £5,000 weekly on short hours.
• Long established family operated business.
• Located within busy parade of shops with parking.
• Lease includes a separate 2 bed flat above.
• Leasehold £89,000 plus stock at valuation.
- Asking Price:
- £89,000
- Turnover:
- £260,000
- Net Profit:
- Available on request
Property Information
- Property:
-
Leasehold
- Lease Terms:
-
The premises are held on a lease that expires early next year but we are informed that a new lease would be available for negotiation. The current rent is £17,000 per annum and this includes the separate flat above.
- Leasehold Rent:
-
£17,000 per annum
- Living Accommodation:
-
First Floor flat with separate street access.
Lounge
Kitchen
Bedroom 1
Bedroom 2
Bathroom
- Location:
-
The business is situated on Tynemouth Road (A193) which is the main road running from Wallsend to North Shields and on towards Tynemouth. The immediate area is known locally as High Howden and is equidistant from North Shields and Wallsend with excellent road links via the A1058 and A19.
The business forms part of an established and popular retail parade which is supported by designated free parking to the front. The busy main road provides good levels of passing trade and the A193 is also a busy bus route.
- Premises Details:
-
This business has been in the same family ownership since 2008 but has now been placed on the market as they wish to retire.
The business trades as a traditional CTN, convenience store and Post Office and is fully fitted and equipped for the trade. The unit is in good order with little for any new owner to attend to on acquisition. There is a small range of convenience goods in the shop but the majority of the retail sales are generated from stationery, confectionery and cards.
There would be scope to extend the lines sold and the evening hours could be pushed back from the existing 6.00pm closing time. There appears to be enough activity on the street to support longer hours in the evening.
The lease includes a separate 2 bed flat above which could be either owner occupied or rented out separately. In the past the flat has generated up to £400 per calendar month.
Property:
Comprises a two storey mid terraced property of traditional brick construction with a slate roof over. Accommodation;
- Size in square feet:
- 930
Business Operation
- Trading hours:
-
Monday - Saturday 6.00am - 6.00pm
Sunday 7.00am - 12 noon
- Employees:
- Currently operated by the owner with the help of 3 part-time members of staff.
- Years established:
- 13
Other Information
- Post office salary:
- £50,000 per annum
