4 bedroom convenience store for sale

Station Road, Whitley Bay, Tyne and Wear, NE26

173 sq. m. | £329,950

Property Description

Commercial information

  • Business for sale
  • 1,862 sq ft (173 sq m)

Key features

  • REF: 13107
  • FREEHOLD
  • OFF LICENCE
  • NEWSAGENTS
  • CONVENIENCE STORE

Full description

Tenure: Freehold

BUSINESS
Hilton Smythe welcomes to the market Gills Off Licence. The business was originally established in this location in the 1950's. Our client took over the business in 2011 and is looking to sell, due to the desire to focus on other business interests.

The business runs as a convenience store, off licence and a newsagents. The shop sells an excellent variety of products in this well-stocked store. There is an excellent range of confectionery products, alcohol, magazines, greetings cards, cold drinks, household products and pet food, as well as the lottery and newspapers.

Much of the trade is derived from tourists who visit the area, however, there is a lot of loyal custom from locals who live in the area.

Gills Off Licence is currently generating an advised turnover of around 300,000 as of 2016 accounts, with a gross profit of 17%.

In addition-
Lottery commission- 1,500 per week
Paypoint commission- 1,500 per week
News sheets- 350 per week

This is a good turnover, however, we feel this could be increased. The new owner should look to extend opening hours in order to boost custom. This shop is situated in between the train station and promenade and so we feel, the new owner should look to expand product lines, introducing products such as buckets, spades and tourist maps of the town could be a great bonus for the business.

The store sells newspapers and so there is scope to introduce a paper delivery round; as well as offering a fresh milk delivery round.

Above the store is a four bedroom owner's accommodation. This is included in the sale and would be perfect for a purchaser looking to relocate to this area. However, if this space is not required by the purchaser, the living space could be let out for an extra monthly income. Our client currently lets this out for 600 per month. There is also an annex, this space is used by our client as a staff rest area.

This is a fantastic Freehold opportunity that is not to be missed. Gills Off Licence is a profitable convenience store in a popular seaside town centre location. Hilton Smythe highly advise early viewing to take in the full potential of the trade.


LOCATION
Gills Off Licence is located in Whitley Bay, Tyne and Wear.

The business is situated in the town centre of this popular seaside resort. The store is just off the main high street amongst a plethora of retail outlets. Close by there is a mixture of independent and large branded stores such as a Boots, Pizza Hut, B&M, a variety of eateries, charity stores, pubs and clothing shops.

Gills Off Licence is just a short 5 minute walk from the main promenade. There is lots to see and do in this area, due to the close proximity to the Blue Flag award winning beach. Visitors travel from across the UK to visit this popular tourist town.

The business is located just off Whitley Road, this is an arterial road in this location. This road connects to the A1058 that runs into the centre of Newcastle Upon Tyne, which is just a short 25 minute drive away. Whitley Bay has its own train station, this is at the bottom of the road. This is well used by tourists. There are also several bus stops a short walk away, to allow for an easy commute to surrounding towns.

PREMISES
Gills Off Licence is set in the middle of a retail parade. The store is well signed, clear to passing trade. There are windows across the front, this allows for a bright retail space.

The entrance leads to the retail area. The till and service counter is just beside the door. This has counter top displays. Behind here there is a cigarette gantry and a vast array of the more expensive alcohol. There is a Lottery and pay point terminal also located at the main counter.

Along the left hand wall there are display stands and shelving, as well as newspaper racks. A large chiller fills the back of the left side of the store. Further shelving and display stands along the right hand wall lead to a double drinks chiller. The centre of the shop has long isle display shelving.

Shelving covers the rear wall and there is access to the storage areas. To the back there is a store room with shelving and a toilet. There is also a second store room with access from the shop. This store also has a ground floor kitchen area and shower. A rear door leads to the yard which provides access to the flat above.

An annex has been purpose built on the first floor, with access from the store room, this currently houses a single bed and TV. This space is used by the owners as a rest room.

Flat
Stairs from the ground floor leads up to the flat. A long corridor runs the full length of the first floor with all rooms coming off There is a kitchen, bathroom, living room and the first double bedroom all on the first floor. There is also a rear fire escape which leads down to the yard at the rear of the shop.

Stairs lead up from the first floor to the second where there are a further three double bedrooms leading off from the landing.

Equipment Includes
Shelving
Racks
Display shelving
Magazine rack
Service counter
Cigarette gantry
Lottery terminal
Scratch card stand

TENURE
We are advised the business is being sold as a Freehold opportunity.

HOURS
The business opening hours-

Monday - Saturday: 7am - 9pm
Sunday: 8am - 9pm

STAFF
The business is run and managed by our client, with the help of family members and 1 part time members of staff.

FINANCIAL PROFILE
The business generates a turnover in the region of 300,000 as of 2016 accounts.
Gross profit 17%

In addition-
Lottery commission- 1,500 per week
Paypoint commission- 1,500 per week
News sheets- 350 per week



Nearest stations

  • Whitley Bay (0.2 mi)
  • Cullercoats (0.5 mi)
  • Monkseaton (0.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299139 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Whitley Bay (0.2 mi)
  • Cullercoats (0.5 mi)
  • Monkseaton (0.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299139 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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