Member Article

City Centre Off Licence Business For Sale

Business For Sale Newcastle

LOCATION

This business is situated in the heart of Newcastle upon Tyne. Close to the central retailing areas and on one of the major routes into the city. Several bus stops are just outside the premises and this creates a high footfall.

DESCRIPTION

The business occupies the ground and cellar floors of this multi-let, multi-storey property. A double fronted shop unit with security roller shutters to the door. Shop premises with a small office space to the rear. Stairs down to cellar storage and w.c.

THE BUSINESS

Owned by our client for just over 1 year (as at August 2010). This is a genuine sale as our client has other business commitments. The business is a typical off licence which also retails a small selection of newspapers, crisps, soft drinks, confectionery, snacks and tobacco products. There is a wide range of wines, spirits and beers. There are many regular, daily customers as well as a huge amount of passing trade.

TRADING INFORMATION

The first years accounts have not been prepared at the time of writing these particulars. However, our client is keen to point out that books have been kept up to date and he would be pleased to show figures to any interested parties after viewing. Turnover is in the region of £14,000 per week.

OPENING HOURS

The business is open

8am – 11pm Monday –Saturday

10am – 10:30 pm Sunday

STAFF

The business is operated by our client with the assistance of 3 part time member of staff.

TENURE

The business occupies the premises on a leasehold basis. The original term of the lease was 25 years and expires in 2016. There are no further rent reviews during the remaining term.

PREMIUM

£100,000 (offers) for the goodwill, lease and fixtures & fittings Plus Stock at Valuation

RENT

The current rent is £30,000

COSTS

Each party to be responsible for their own costs. The purchaser of the business to be responsible for paying the Landlords reasonable costs.

FIXTURES & FITTINGS

We are advised by our client that all of the trade fixtures and fittings are owned outright (unless stated otherwise) and will therefore be included in the sale subject to inventory where applicable.

LICENCES

We are informed that the Property has a Premises Licence granted by the relevant local authority. It is a requirement of the Licensing Act 2003 that properties serving alcohol or hot food after 11pm have a

designated premises supervisor who must be the holder of a Personal Licence. Prospective purchasers are advised to take appropriate specialist advice.

COMMERCIAL FINANCE

The commercial market is a challenging environment and getting the right commercial finance package can be a challenge. We have working relationships with many lenders including high street banks and specialist lenders.

Call 0191 280 3285 for more details

REF: RCL 159

This was posted in Bdaily's Members' News section by Jason Roberts .