Sold

Post Office and Newsagent in West Boldon For Sale

East Boldon, Tyne and Wear

£34,950 +SAV

Ref: 13224 A

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Description

Hilton Smythe is delighted to welcome to the market this well-established Post Office and newsagent business, which is ideally located within the village of West Boldon, Tyne & Wear. The business was originally established in 1996 and has been in our client’s careful ownership since 2015. Only now is the business being offered to the market due to our client’s other business interest. The business operates 7 days per week and generates a turnover in the region of £156,000 per annum, with a gross profit of approximately 20%. The business offers a variety of goods including newspapers and magazines, greeting cards, convenience items, stationery, confectionery, frozen goods, dairy products, alcohol and soft drinks, to name a few. The Post Office side of the business is currently not trading. The property boasts 33 sq. metres of floor space, with a good size sales and display area and a kitchen and WC to the rear. The property is very well maintained and fitted out to suit the trade. The business has built up a good 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 good volume of repeat trade and recommendations. We feel there is scope to increase the turnover by offering the Post Office services again. A new owner could also extend the opening hours and embark on a small marketing campaign to promote the goods offered. This is an excellent opportunity for a new owner to take this already profitable business to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.

Tenure

Leasehold

We are advised Leasehold: Original lease length: 10 yearsRemaining lease length: 9 years, as of November 2016Rent: £5,700 per annum

Hours

The business is open: Monday – Friday: 6.00am – 8.00pmSaturday: 6.00am – 6.00pmSunday: 6.00am – 10.00am

Staff

The business is owner run and managed.

Financial Profile

The business generates a turnover in the region of £156,000 per annum, with a gross profit of approximately 20%.

Location

West Boldon Post Office occupies ground floor, lock-up premises, ideally located within the village of West Boldon, Tyne and Wear. The business is situated on the busy Addison Road and is surrounded by both commercial and residential properties, therefore, benefiting from a good amount of footfall and passing trade. The business also benefits from good car parking facilities within the area. West Boldon is one of three small villages in the north east of England called The Boldons, bordering the north of Sunderland, east of Newcastle and south of South Shields and Jarrow. The Boldons form part of the suburban fringe of South Tyneside and are surrounded by green belt. 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 East Boldon, approximately 1½ miles away. The area is also well-served by the A-roads, with the business situated on the A184, which links to the national A-road and motorway networks. Sunderland is approximately 5 miles away and South Shields is 7 miles away.

Premises

Ground floor, lock-up premises in an ideal trading location, briefly comprising: Serve over counter with Post Office unit and EPOS register.Newspaper and magazine display racking.Greeting card display unit.Central goods display stands.3 x double door drink chiller units.Wall displays.General fixtures and fittings. To the rear: Kitchen.WC.

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