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Well-Established & Well-Respected Bakery

Spennymoor, County Durham

  • Asking Price: £34,995 +SAV
  • Turnover: We are advised that turnover is approximately £150,000 per annum with a gross profit of up to 70%. The business will be exempt from business rates upon sale. The business carries no stock. Water charges are approximately £50 per quarter and electricity £190 per month.
  • Tenure: Leasehold

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Hilton Smythe welcomes to the market the very busy Sandwich shop/Bakery known as Longstaff’s Bakery in Spennymoor. The business is one of 2 shops owned by our client. Our client’s outlet in Bishop Auckland makes most of the produce which are delivered to this outlet in Spennymoor. For personal reasons, our client has reluctantly decided to sell the Spennymoor outlet but to retain the Bishop Auckland one. The new owners will be free to obtain their products from any supplier and to take the business into any direction they want. However, there is the option for our client to continue supplying the Spennymoor outlet with any of the goods that the new owner may require. Our clients have had a presence in Spennymoor for 9 years the last 4 years of which in its present location. Longstaff`s Bakery offers a great selection of products, this includes bread, pies, pasties, cakes, sandwiches as well as a range of hot and cold drinks. Longstaff`s Bakery is well known with a great reputation.The business is very busy with strong sales and high profits.The shop is fitted out to a very high standard.The store is attractive, sensible and reasonable priced ready for an early sale.

3 staff run the business. If not required by the buyer our client will re-employ them at his Bishop Auckland shop.

Monday to Saturday: 7.30am – 3.30pm (early close 3pm on Wednesday)Sunday: closed

The business is situated on a very busy main road in the town of Spennymoor in County Durham. There is also free on street car parking immediately outside.

The attractive mid terrace leasehold property has an attractive entrance that leads to a very well fitted shop with 3 serve over display units in front and good quality fittings and units throughout. The 3 retail display units cost our client £28,000 recently and are included in the sale. There is a good sized sales area behind the display units. There is a large fully equipped modern kitchen to the rear. To the side of the kitchen is a stock room with toilet at the rear. The premises are exceptionally clean and tidy (with a 5* food hygiene rating) with tiled floors and high quality light fittings. A full inventory of fixtures, fittings and equipment will be provided by the owner, who is prepared to assist the buyer in this respect. We are advised that the assets including the nearly new retail units are worth in the region of £30,000.

Tenure
We are advised that the premises are held under a Lease of which 6 years remains as of 2017 (with break clauses) with a rent of £675per month.

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