Retail premises for sale in Saville Street, North Shields NE29

Fixed price £29,950 (£56.19/sq. ft)
Retail premises for sale 533 sq. ft*
Interested in this property? Call +44 1904 918748 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Convenience & newsagent with low rent & good sales
  • Low council rent of £7,000
  • Very high footfall
  • Prime town centre location
  • Free car parking nearby
  • Specialist Tobacconist

Property description

The business has a prominent corner location on the main road running through the town centre of North Shields, Tyne & Wear. The main bus routes pass through and there are free car parking facilities to the side of the shop.

This is a well established convenience, off licence, newsagent & tobacconist within a popular location and on a row with other businesses. The shop is run by the owner and 3 staff and has additional services including lottery and PayPoint.

The selection of specialist cigars & tobacco with news & magazines along with other products are a unique selling point for the shop along with the alcohol sales, confectionery, drinks and snacks. There is significant room to develop the business by introducing fresh food lines, a cash machine on the premises and/or extending the opening hours.

A profitable business with low council rent which currently benefits from zero council rates. Commissions include Lottery, Paypoint and Collect Plus Parcel Delivery.

We are advised that the sale is due to the owners’ other commitments.

Opportunity
The business currently operates on restricted opening hours which could be extended in line with the premises licence which allows the sale of alcohol up until 11:30pm.

Key Features
Weekly Sales Avg. £6,000
Low council rent £7,800
Lottery commissions £5,200
Town centre location
Free car parking nearby
Specialist tobacconist

Price
£34,950

Tenure
Leasehold

Gross Annual Income
£312,000

Annual Rent
£7,800

Trading Hours
Monday to Saturday 6:30am-6:00pm
Sunday 6:30am-4:00pm

Premises Licence
Monday to Thursday and Sunday 6:00am-11:30pm
Friday and Saturday 6:00am-12:00pm

Shop Measurements
Shop Trading Area: 35.2m² (378ft²)
Stockroom Area: 6.6m² (71ft²)
Tobacco Cupboard 2m² (21ft²)

Staff Employed
Owner, 1 full time and 2 part time staff (non contracted)

Estimated Stock Value
£15,000 Wholesale Value

Lease Terms
15 year council lease expires December 2034

Rateable Value* £8,300
* (Note: The rateable value is used to calculate your rates bill so this is not the amount you will pay)

Notice
All information provided is subject to the standard terms and conditions of A1 Businesses Ltd. (trading as A1 BUSINESSES FOR SALE). See our disclaimer page for more details.

Viewings
Any viewings for the business and/or property are to be made strictly by appointment only through A1 BUSINESSES FOR SALE. No approach should be made directly to the owner or any of their employees.

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
A1 BUSINESSES FOR SALE, YO10 on +44 1904 918748 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by A1 BUSINESSES FOR SALE, and do not constitute property particulars. Please contact A1 BUSINESSES FOR SALE for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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