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