| (REF: NW010060) Newsagents - Lancaster |
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| Seller Reference: |
NW010060 |
| B4S Reference: |
28629 |
| Asking Price: |
£65,000
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| Net Profit: |
Undisclosed |
| Sales Revenue: |
£233,000 |
| Number of Staff: |
Send enquiry for more details. |
| Established For: |
Send enquiry for more details. |
| Ownership: |
Leasehold |
| Location: |
Lancaster, Lancashire, United Kingdom |
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Location
Adams and Co. are delighted to offer for sale this successful newsagent. The business is situated in a significant and popular residential area of Lancaster, with an excellent catchment area and a monopoly position in the vicinity, giving good all year round business. The historic City of Lancaster supports a successful commercial mix of major national retailers and specialist individual shops and is ideally positioned, with easy access to Junctions 34 of the M6 motorway, giving accessibility to the Lake District and all its attractions.
The Business
The newsagent is very well established with a history of profitable trading, and has a low expense ratio giving excellent net profits. The business trades as a typical newsagents, retailing a range of newspapers and magazines, cigarettes and tobacco, cards and stationery, confectionery and cold drinks. The business enjoys a good level of both local repeat customers and passing trade. The business has the benefit of a payzone service which also brings in custom. Our client has informed us that the newsheet is approx. £2500 p/w at cost, with the business having 12 delivery rounds. We believe this is an excellent opportunity for a more hands on owner to maximise the potential, with much scope to increase the opening hours, introduce other merchandise. The owner has applied for Lottery and there is potential to expand on the convenience / grocery with the local Booths now relocating to another area in the City. Turnover for the year ending 31st March 2009 was £336,891, with a Gross margin of 20%, and accounts are available to seriously interested parties, following a viewing.
Reason For Sale
The business is now offered to the market due to our clients other commitments.
Business Premises
Double fronted ground floor unit on a parade of shops servicing a densely populated residential estate. The shop has attractive signage and part glazed entrance door to the well fitted sales area of approx. 300sq.ft. having tiled flooring, strip lighting and Fujitsu air-conditioning unit. The business has a good range of equipment including, wall mounted news and magazine display shelving, central walk-round shelving, drinks chillers, ice cream fridge, Infotec photocopier, shelving for confectionery displays, card stands, glass fronted display counter with computerised EPOS system and till, and wall mounted cigarette gantry behind. To the rear of the counter is a small store / kitchenette area (approx. 70sq.ft.) with shelving as fitted, s/s sink unit, hot water heater, coffee machine and window to rear. Door to rear vestibule leading to WC and external door.
Externally
Yard area having concrete storage shed (approx. 90sq.ft) with pathway to rear access road and parking for one car.
Staff
At the time of our visit, our client employed one part time member of staff and several paperboys.
Hours of Trading
Monday to Friday 6.15am to 5.30pm
Saturday 6.30am to 4.30pm
Sunday 6.30am to 12pm
Tenure
Leasehold with the balance of a 3yr secure renewable council lease from 19th September 2007.
Rent
Rent is just £2900 per annum. Rates payable are £699 per annum. The purchaser may be able to receive rate relief of up to 50% on the rates.
Comments
A well-established and profitable business in a prominent location. Ideal family / partnership venture and highly recommended for viewing.
FINANCE
Finance for this business is available through Adams and Co(Finance). Please call this office for more details. Please remember that all loans are subject to status and survey.
LEGAL FEES:
Vendors and Buyers each to meet their own legal costs.
Additional Services
When purchasing a business (particularly for the first time) there are many important issues to consider and organise. With over 50 years experience of the Business Transfer market we at Adams and Co are ideally placed to help purchasers. We are able to arrange competitive finance, insurance, and stock-takers, if required. Please telephone for further information.
THE PROPERTY MISDESCRIPTIONS ACT 1991
Adams and Co have not tested any apparatus, equipment, fixtures and fittings, or services and so cannot verify they are in working order or fit for the purpose. Buyers are advised to obtain verification from their Solicitor or Surveyor. Purchasers must satisfy themselves as to their actual condition prior to purchase. References to the Tenure of a Property are based on information supplied to Adams and Co by the vendor. Adams and Co have not had sight of the title documents. Buyers are advised to obtain verification from their solicitor. All measurements are approximate and intended for general guidance only and should therefore be considered to be 'nominal'.
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Property: |
Leasehold |
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Living Accommodation: |
No |
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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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