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News / Lotto with Large Flat

Willington £139,950 Freehold REF: NE1316

Location

The business is located on Commercial Street which is the main road (A690) running into Willington town centre from Durham City and runs through towards Crook. 

Willington is a former colliery town located in the Wear Valley and approximately 10 miles west of Durham City and easily accessible with good road links throughout the County and beyond.

Business

The business has been in our clients’ family ownership for over 30 years and has been placed on the market as they wish to retire.

The shop operates as a traditional counter newsagent with magazines, confectionery, convenience goods and a wide range of greetings cards.  The shop has full Lotto status and other commission income is generated by way of Paypoint,   parcel collections and the shop has a strong gross profit margin operating in excess of 24%.

The business operates from an end terrace, two storey, stone built property and forms part of the main shopping district.  The surrounding properties comprise predominantly residential accommodation and there are high levels of captive trade and the main road also generates passing trade, supported by free parking across the street.

This is a genuine opportunity, ideally suited to a family that could absorb some of the staff wages and develop the trade by expanding the lines sold and possibly the trading hours.

Property

Comprises a two storey end terrace property with land to the rear, garages and scope for a garden.

Ground Floor

Sales Shop circa 63 sq.m. (680 sq.ft.)

Rear Shop  circa 7.1 sq.m. (76 sq.ft.)

W.C.

First Floor with separate rear access

Lounge

Kitchen / Diner

Bathroom

W.C.

Bedroom 1

Bedroom 2

External

Yard / Garden Area

Double Garage

Outhouse

Services

Mains gas, water and electricity is installed.

Fixtures & Fittings

A full inventory would be made available prior to an exchange of contracts.

Staff

Currently operated by the client (part time) with the help of members of staff.  Current wage bill circa £80,000 p.a.

Trading Hours

Monday to Saturday            5.00am – 6.00pm

Sunday                                 5.00am – 12.30pm       

Rates

The premises are currently assessed as follows:

Rateable Value £1,275

Rates free incentives available subject to status.

Tenure

We are verbally informed that the premises are freehold.  Interested parties should seek legal confirmation of this.

EPC

Rating C.

 

 

 

 

 

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