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Post Office And News In Gosforth Newcastle For Sale

Newcastle upon Tyne, Tyne and Wear, UK
Asking Price:
£80,000 Furniture / Fixtures included
Sales Revenue:
£150,000
Cash Flow:
Available on request

• Post Office Income circa £25,000 per annum.
• Sales circa £3,500 weekly (newsbill £2,000 at cost).
• Pleasant residential housing estate.
• Long established family business operating for over 30 years.
• Located within busy parade of shops with parking.
• Income from separate 2 bed flat above.
• LEASEHOLD £80,000 plus stock at valuation.

Property Information

Property:

Leasehold

Lease Terms:

The premises are held on a 20 year lease from 2012 but we are informed that a new lease would be available. The current rent is £7,400 per annum and this includes the flat above.

Leasehold Rent:

£7,400 per annum

Living Accommodation:

First Floor flat with separate access.
Rented out at £550 per month increasing to £600 from August 2022

Lounge
Kitchen
Bedroom 1
Bedroom 2
Bathroom
Garden with rear parking

Location:

The business is situated within a busy parade of shops that serves the popular residential area of Brunton Park, to the north of Gosforth town centre.

The business forms part of an established and popular retail parade which is supported by designated free parking to the front with easy access via the B1318 Great North Road.

Premises Details:

This business has been in the same family ownership since 1989 but has now been placed on the market as they wish to retire.

The business trades as a traditional CTN, convenience store and Post Office and is fully fitted and equipped for the trade. The unit is in good order with little for any new owner to attend to on acquisition. There is a small range of convenience goods in the shop but the majority of the retail sales are generated from stationery, confectionery and cards. The newsagency currently delivers to over 200 customers.

There would be scope to extend the lines sold and the evening hours could also be pushed back from the existing 6.00pm closing time. There appears to be enough activity within the estate to support longer hours in the evening.

The lease includes a separate 2 bed flat above which is rented out separately. The flat currently generates £550 per calendar month which contributes significantly towards the annual rent.

Property:

Comprises a two-storey terraced property of traditional brick construction with a slate roof over.

Accommodation;

Ground Floor;
Retail Area extending to circa 485 sq.ft. (45 sq.m.) consisting of the main sales shop space which incorporates the separate Post Office counter at the rear of the unit.
Store / Staff Areas circa 120 sq.ft. (11 sq.m.)
Staff W.C.

Energy Performance Rating:
C

Business Operation

Reasons for selling:

Retirement sale.

Trading hours:

Monday - Friday 6.00am - 1.00pm 2.00pm - 6.00pm
Saturday 6.00am - 1.00pm 2.00pm - 5.00pm
Sunday 6.00am - 12 noon

Employees:
Currently operated by the owner with the help of 2 part-time members of staff.
Years established:
Over 30 years.

Other Information

Post office salary:
£25,000 per annum

Contact North East Commercial

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