Shop for sale

Stanhope Paper Shop & Post Office, 57 Front Street Stanhope, Bishop Auckland, County Durham, DL13 2TS

Sold STC £100,000

Property Description

Commercial information

  • Business for sale

Key features

  • Profitable village store/Post Office
  • Adjusted net profit circa 46,435
  • Sales Y/E 2015 c. 522k Inc PO & Lottery
  • Scenic Durham Dales village location
  • 3 bedroom masionette and small garden
  • Energy Rating C

Full description

Tenure: Leasehold

Description

A three storey, end terraced stone-built property with the ground floor used for the retail business premises. There is a maisonette which has its own separate access to the rear of the property.

Location

A prominent newsagents, general village store and Post Office, located on the main road into the market town of Stanhope. The property is located next to Barclays Bank and other complementary businesses on the main road. The A689 is a main Trans Pennine route and Stanhope is at the heart of the Wear Valley, an area of outstanding natural beauty.

The city of Newcastle upon Tyne lies approximately 25 miles to the north east and the town of Darlington is located approximately 30 miles south east.

Internal Details

The retail area is well appointed with good utilisation of space. The business has an off-licence section and sells a range of convenience goods, chilled dairy products, ice-cream, stationery and confectionery. There is a counter top hot display for fresh baked pies and pasties and a hot drinks machine. There are soft ice cream and slush machines, and photocopier, a range of greetings cards and newspapers and magazines. The business also has a Local Plus Post Office counter integrated into the retail counter, and National Lottery for which our client receives commission.

Ancillary areas include: Rear preparation room with oven, stainless steel sink unit, floor standing oven and overflow fridge. Door leading onto small store room with four freezers and separate toilet.

External Details

There is a small garden area to the rear.

Owner's Accommodation

The accommodation is accessed separately from the rear and comprises; Lounge, fitted dining kitchen and inner hallway with storage cupboard. On the first floor there are three bedrooms and a bathroom.

The Opportunity

Our client has been in ownership of the business for 23 years. Trade is derived from the local community, passing traffic and footfall, in the summer months trade is boosted substantially by holiday park residents and tourists visiting the area. A large amount of the trade is generated through the sale of newspapers, convenience goods and delivered rounds.

There is also a leasehold option to purchase the business, with a premium of £100,000 and an annual rent of £12,000. This would be a new lease and terms are to be negotiated between the vendor and buyer.

The Local format Post Office was installed in 2015 and generates income of around £17,000 to £19,000 per annum.

Trading Information

Turnover year ending 2015 was £522,799 excluding VAT. Average news bill at cost per week is in the region of £3,000, there are six delivered rounds in the town and surrounding villages which is a boosted in the summer months due to deliveries to the caravan sites. Commission from the Lottery is approximately £6,350 per year.

The Local Post Office was incorporated into the store in 2016 and average monthly commissions are around £1,400.

Trading Hours

5.00am to 7.00pm seven days per week.

Regulatory

The transfer of a Post Office is at the sole discretion of the Post Office.


More information from this agent

Nearest station

  • Riding Mill (14.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Newcastle Upon Tyne

Shakespeare House 18 Shakespeare Street, Newcastle Upon Tyne, NE1 6AQ

0191 687 0826 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 station

  • Riding Mill (14.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Newcastle Upon Tyne

Shakespeare House 18 Shakespeare Street, Newcastle Upon Tyne, NE1 6AQ

0191 687 0826 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.

Disclaimer - Property reference 6410879-lh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co , Newcastle Upon Tyne. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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