Commercial Property for sale

WH Smith & Post Office, 1 Parkway Shopping Centre, Coulby Newham, Middlesbrough, TS8 0TJ

Fixed Price £60,000

Property Description

Commercial information

  • Business for sale

Key features

  • WH Smith franchise
  • Busy shopping centre location
  • PO Salary 37,000
  • Lottery and Paypoint commissions
  • Fully staff run store
  • Scope to expand. Energy Rating C.

Full description

Tenure: Leasehold

Description

The business trades as WH Smith and has a Post Office counter within the store. It occupies a corner position retail unit with Parkway Shopping Centre with great visibility and high levels of passing footfall.

Coulby Newham was lacking a Post Office for several years following the closure of the last remaining main post office in the area. Two years ago, our client decided to open this business with the Post Office to help benefit the community.

Location

The business is located within Parkway Shopping Centre in the Coulby Newham district of Middlesbrough, approximately five miles south of the town centre. The area has great transport links with main bus routes into Middlesbrough. The unit commands a prime position within the shopping centre and is one of the first shops visible upon entering the public car park.

Internal Details

There are two Post Office counters which are located on the main sales counter. The sales area offers extensive perimeter shelving, gondola aisles and soft drink chillers. There is a modern suspended ceiling with LED lighting, There is also an office on the ground floor with storage, and staff toilet to the rear of the unit.

Fixtures & Fittings

With the exception of the lottery terminal and Post Office equipment, our client informs us that all fixtures and fittings are owned outright.

Tenure

The existing lease commenced on 27th October 2016 for a term of 10 years. There is a break clause option and rent review on 28th October 2021. The rent for the retail unit is £20,000 per annum and there is a £5,000 per annum service charge for maintenance and cleaning of the common areas.

The Opportunity

The business is fully staff run and is managed by the owner. The retail side of the business currently generates a turnover of £170,417 which equates to c. £3,300 per week. Commissions form a large part of the business and supplement retail sales heavily, with lottery sales of £6,500 per week, scratch card sales of £3,000 per week and good levels of Paypoint commissions. The business benefits from a Post Office salary of £37,000.

There is also the possibility of attaining a Premises Licence subject to approval by the relevant authorities.

This store has been run by the same owner for two years and he feels it is now time to concentrate more on his other business interests. The store is presently fully staff run so a more hands on operator would be able to make further improvements to the business outputs and profitability. Increasing the opening hours would also be beneficial to any new operator. This unit would also suit a first time buyer who might want to add additional services to the business.

Staff

The business currently operates with a mixture of full and part time staff. Transfer of Undertakings (Protection of Employment) Regulations (TUPE) will apply to any remaining staff.
Full details available on request.

Trading Information

Trading information can be provided to seriously interested parties upon request after a formal viewing has taken place.

Trading Hours

Monday to Friday, 9am - 5.30pm. Saturday 9am - 5pm. Sunday 9am - 2pm.


More information from this agent

Nearest stations

  • Marton (1.5 mi)
  • Gypsy Lane (1.6 mi)
  • Nunthorpe (1.9 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.

Floorplans


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 stations

  • Marton (1.5 mi)
  • Gypsy Lane (1.6 mi)
  • Nunthorpe (1.9 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.

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