| (REF: 9481WR) Freehold Newsagents With Excellent Potential and Additional Rental Income |
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| Seller Reference: |
9481WR |
| B4S Reference: |
28793 |
| Asking Price: |
£510,000
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| Net Profit: |
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| Sales Revenue: |
£146,000 |
| Number of Staff: |
Send enquiry for more details. |
| Established For: |
Send enquiry for more details. |
| Ownership: |
Freehold |
| Location: |
Undisclosed, Worcestershire, United Kingdom |
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Advent Business Sales is pleased to have been instructed to offer to the market this extremely well established newsagents with attached large property freehold.
The newsagents, which was founded over 50 years ago has been owned by the present vendor since 1990 and is only now being offered for sale as he wishes to retire.
Net property income of £32,600 is made as follows:
1. A 6 year lease with 3 years remaining and with 3 yearly reviews on a nail bar at a rent of £7,000 per annum
2. 6 x bedsits currently let at £75.00 per week per bedsit is an annual income of £23,400 Rates and heating etc are paid by the vendor with a net income of circa £19,000 per annum
3. A self contained 3 bed apartment which is currently let at £550 per month or £6,600 per annum exclusive
In addition, should the newsagents be sold leasehold to an interested party, it should command a premium of circa £30,000 with an annual rent of circa £8,000 per annum.
Shop sales are currently circa £3,000 per week, achieved by the owner working part time only. There is tremendous scope to increase the sales further.
The newsagents sells:
• Cigarettes and tobacco
• Newspapers and magazines
• Soft drinks and confectionery
• Household goods
• Stationery & small toys
• Greetings cards and gift wrap
• Ice cream
It also has 4 morning newspaper rounds.
We have been advised that the vendor has applied for an alcohol license, which should increase turnover considerably.
We are advised that stock at cost is approximately £10,000.
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Property: |
Freehold |
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Lease Terms: |
Freehold
We are advised that the annual business rates are currently: £1,200 (flats)
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Living Accommodation: |
Yes |
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Details of Accommodation: |
Mid terraced property with off set entry door from pavement into the main sales area.
Serving counter and till by door with rear cigarette gantry. Centre shelving for general household goods and confectionery. Large selection of greetings cards. Second level with stationery, toys, soft drinks etc
Rear storeroom, through to lounge area/stores with back kitchen and rear bathroom/wc.
The shop has the added advantage of being alarmed with a 1 camera CCTV system overlooking the till.
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Location: |
The premises have an excellent location on a busy main arterial road in a densely populated area of Worcestershire.
Parking is free of charge, time restricted in a lay bye in front of the shop in side streets which have no limits
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This is clearly a very successful business, it does however, offer excellent scope to increase both sales and profits by:
1. Applying for the National Lottery
2. Opening more hours in the evenings
3. A working owner or couple would save on staff wages
4. Planning permission has been granted to convert and extend the existing bedsits into 4 x 2 bed apartments and 3 x1 bed apartments with rear parking. A guide cost of £160,000 has been obtained from a local reputable builder for the work.
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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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Mon-Sat: 6.00am – 5.30pm
Sun: 7.00am – 2.00pm
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The shop employs 3 part time staff only who currently manage the shop between themselves. This is ideally suited for a working owner or couple.
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