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Busy Convenience Store with 4 bedroom accommodation

Sunderland, Tyne and Wear

£280,000 +SAV

Ref: 2973 A

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Description

Hilton Smythe is delighted to welcome to the market this well-established and busy convenience store in Sunderland, Tyne & Wear.

The business has been in our clients’ careful ownership since 2003 and is only now being offered to the market due to our clients’ desire for a well-deserved retirement. The business currently operates 7 days per week and generates a turnover in the region of £1,250,000 per annum, with a gross profit of approximately 20%.

Our clients offer a wide variety of goods including general convenience items, frozen goods, chilled goods, household items, newspapers and magazines, greeting cards, alcohol and tobacco products, to name a few.

The business has built up an enviable reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

To the ground floor, the property offers a spacious sales and display area, which is fitted out to suit the trade, with a separate office and staff room to the rear. The first floor offers four bedroom accommodation, which could be used by new owners or let out to generate further income.

We feel there is scope to increase the turnover by embarking on a modest marketing campaign to highlight the goods and services offered. A new owner could also offer a newspaper delivery service within the area.

This is an excellent opportunity for a new owner to take this already thriving business to the next level; therefore early viewing must come highly recommended to avoid disappointment.

Tenure

Leasehold

We are advised Leasehold:

New lease to be negotiated.

Hours

The business is open:

Monday – Saturday: 7.00am – 9.00pm
Sunday: 8.00am – 9.00pm

Staff

The business is owner run and managed with 5 x part time staff members and family.

Financial Profile

The business generates a turnover in the region of £1,250,000 per annum, with a gross profit of approximately 20%.

Location

This busy convenience store, which is trading as a Costcutter is ideally located within the city of Sunderland, Tyne & Wear. The business is situated within a parade of complimentary shops and businesses and benefits from a very high volume of footfall and passing trade. The convenience store is surrounded by densely populated residential areas, from which the business derives much of its trade.

Sunderland is a welcoming, bustling city set right on the coast at the mouth of the River Wear. It boasts wide sandy beaches and acres of relaxing and invigorating green spaces. The city has a fascinating history, outstanding sporting attractions and a family friendly programme of events and festivals.

The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. The nearest railway station is approximately 5 miles away in Sunderland city centre. The area is also well served by the A-roads, with the A19 being within easy driving distance, which links to the national A-road and motorway networks. Newcastle is approximately 10 miles away and South Shields is 7 miles away.

Premises

Substantial two storey premises, ideally located in a prime trading location, briefly comprising:

Ground floor:

Large retail area.
Serve over counter with electronic cash register, credit/debit card terminal, Lottery terminal and scratch card display.
Tobacco gantry and alcohol display behind counter.
Drink chiller units.
Dairy chillers.
Wine refrigerators.
Freezers.
Central display isles.
Retail shelving.

Delivery room with external shutter access to rear of shop.
Separate office and staff room with WC.

Main store room with access to shuttered garage and access to first floor flat.

First floor:

4 x bedrooms.
2 x living rooms, one with access to roof terrace.
Bathroom.
Kitchen.

External:

Very well signed and presented.
CCTV both internally and externally with alarm and shutters.

Equipment included:

All retail fixtures and fittings.
Multitude of refrigerators.
Drink chiller units.
Freezers.
Display stands.
Perimeter shelving.
Office equipment.

The shop was fully refitted in 2010.

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