Retail premises for sale in The Bridges, Sunderland SR1

Fixed price £94,950 (£98.09/sq. ft)
Retail premises for sale 968 sq. ft*
Interested in this property? Call +44 1904 918748 * or Request Details

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Property features

  • Tenure: Leasehold
  • Gross Annual Income: £1,196,000
  • Annual Rent: £30,000
  • Weekly Sales circa £23,000
  • Prime City Centre Shopping Location
  • Total commissions £36,000
  • Highly profitable gp 18%
  • High customer footfall
  • External atm cash machine

Property description

- The weekly sales are currently 50% of the average sales due to the new national restrictions from 5 November -

The business is located in The Bridges shopping centre in Sunderland town centre, Tyne & Wear and within catchment zone of a densely populated area. The Bridges is a shopping centre based in the city centre and contains over 85 stores, reportedly having received 15 million shopping visits in 2019.

The Business
This is a very well established Newsagent & Tobacconist which benefits from high footfall and equally high tobacco and alcohol sales. This is a very profitable business and generates high income from commissions from services, Lottery cira £2,000/month, Paypoint circa £600/month and atm circa £4,800/year. Further commissions from Ignite are £250/quarter and during summer months baggage deposit company Left-it provide an income circa £100/month.

There is currently a passing rent of £30,000 per annum along with the service charge payable of £366/month. Business rates have been discounted 100% since April 2020, previously payable at £800/month. Income from commissions totalling around £36,000 currently outweigh the expenses. The business owner has specified that the business operates on an overall gp margin of 18%. The percentage of tobacco sales is around 60% of overall sales, however the current selling price is set at a 10% profit margin

The business is run by the owner with her brother and 3 members of staff (tupe rules apply). There is currently a 5 year renewable lease in place. Owner is selling due to other business commitments.

The Opportunity
There is huge development within Sunderland town centre including local housing developments and student accommodation, all of which continues to increase the population here. There is scope to increase the opening hours beyond the 5pm closing time to take advantage of the premises licence hours.

Key Features
Weekly sales circa £23,000
Prime city centre shopping location
Total commissions £36,000
Highly profitable gp 18%
High customer footfall
External atm cash machine

Trading Hours
Monday to Sunday 8:00am-5:00pm

Premises Licence
Monday to Sunday 8:00am-11:00pm

Shop Measurements
Shop Trading Area: 47.7m² (513ft²)
Stockroom Area: 34.1m² (367ft²)
Office Area 8.2m² (88ft²)

Staff Employed
Owner, family member and 3 part time staff on 16 hours each (tupe rules apply)

Stock Value Estimate
£35,000

Lease Terms
5 year renewable lease. 6 months rental deposit required (£15,000+VAT)

Rateable Value*
£30,000
* (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.

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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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