| (REF: 1928) Freehold Newsagents In Stamford Hill, London |
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| Seller Reference: |
1928 |
| B4S Reference: |
23140 |
| Asking Price: |
£750,000
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| Net Profit: |
£19,662 |
| Sales Revenue: |
£118,721 |
| Number of Staff: |
1 |
| Established For: |
31 Years 0 Months |
| Ownership: |
Freehold |
| Location: |
Stamford Hill, North London, United Kingdom |
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Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £110,000 with a net profit of £19,662 (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a family run operation.
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides newsagents, general convenience, greetings cards, groceries, off license, lottery, oyster cards and mobile top up.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Freehold Newsagents in Stamford Hill which has been established since 1980. The business has been in the hands of the current owner since 1993 and he now wishes to sell due to retirement.
Services
This very good business opportunity provides newsagents, general convenience, greetings cards, groceries, off license, lottery, oyster cards and mobile top up.
Staffing
The concern employs one full-time member of staff.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
There is no local competition.
Market
The client base consists of local residents and high levels of passing trade.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.
Property Details
The property is terraced, part of a parade of shops and is approximately 900 sq ft. The front is branded with an attractive glass front. There are manual shutters and a CCTV system. The main customer service area is carpeted with a middle aisle, shelving and racking to the walls. It is very well presented and is very conveniently laid out.
To the rear is a store room. There is a toilet and staff facilities.
First and Second Floors
On the first and second floors there is a spacious 4 bedroom apartment including 2 double bedrooms, 2 singles bedrooms, living room, kitchen and bathroom.
Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £30,000.
Financial Details
The present annual turnover is £118,721 with a gross profit of £35,395 and a net profit of £19,662. The wages are £190 p/w. The present value of the stock is £25,000.
The potential turnover of the business within the next 2 years is forecast to reach £165,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.
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Property: |
Freehold |
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Lease Terms: |
The business is Freehold and the rates are £6,400 pa. |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
On the first and second floors there is a spacious 4 bedroom apartment including 2 double bedrooms, 2 singles bedrooms, living room, kitchen and bathroom. |
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Location: |
- Situated in the High Road area of Stamford Hill in London.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities in nearby side roads.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A10, A107 and A503.
- Finsbury Park, Tottenham, Harringay and Seven Sisters all lie close by.
- Area enjoying much growth and re generation.
- Excellent local demographics for this type of area.
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There is no local competition. |
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The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
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The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made. |
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Owner wishes to sell due to retirement. |
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Is this a home-based business? |
No |
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Can this business be relocated? |
No |
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Is this business part of a franchise? |
No |
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Monday to Saturday: 6.30 am – 10.00 pm.
Sunday: 7.30 am – 5.00 pm.
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The concern employs one full-time member of staff. |
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