Newsagent - East Sussex

Profitable old established NEWS, CONFECTIONERY, TOBACCO, GREETING CARDS, STATIONERY, ICES, SOFT DRINKS



Viewing is only via appointment please contact Nationwide Businesses on 020 8763 1777.
Location

Situated in a parade, residential area, EAST SUSSEX

Features

SPACIOUS DOUBLE FRONTED SALES SHOP approx. 500 sq. ft. sales area, fluorescent lighting, carpeted floor. Air Conditioned. Well equipped including counter, electronic cash register, 2 ice cream deep freezes (owned), 1 small glass fronted display fridge (owned), 1 upright display fridge (on loan from Coca Cola), CCTV system with 3 cameras, 1 monitor plus digital recording.

Stockroom at rear with racking
Staff Cloakroom with w.c. and wash hand basin
Kitchen area

Turnover

WE ARE INFORMED the turnover averages £7,500/£8,000 p.w. in our opinion offering tremendous potential for further increase in the right hands. Wholesale newsbill £2,200 p.w. Gross profit 16% approx. There is a Sub Post Office section within the shop that is let to the sub post master on a 6 monthly agreement. The owner is receiving a rental income currently of £5,196 p.a. We are further advised that the sales in respect of the newsagents year ending 31st March, 2007 showed £378,459 (including lottery commission of £6,953 and rent receiveable in respect of the sub post office section of £5,196). Gross profit £78,394 (before wages and salaries of £17,971) and net profit before finance charges and depreciation of £40,262.

Staff

The business is at present operated by 2 partners with the assistance of 1 part time lady for early mornings including delivery of newspapers. 8 morning newsrounds + 7 Sunday morning newsrounds. 4 delivery boys employed with the balance of deliveries undertaken by the part time lady. Delivery charge £1 p.w.

Opening Hours

Monday - Sa****ay inclusive - 6 a.m.- 6 p.m.
With the exception of Wednesday & Sa****ay when the business remains open until 7.30 p.m. for the sale of on line national lottery tickets.
Sunday opening - 6 a.m. - 1 p.m.
It will be appreciated upon inspection that there is potential for additional opening hours, if desired.

Accommodation

Included in the sale is the EXCELLENT SELF CONTAINED MAISONETTE over, which we understand is leasehold property having approximately 75 years unexpired AT A GROUND RENT OF ONLY £15.00 P.A. FOR THE NEXT 8 YEARS, INCREASING AT THAT TIME TO ONLY ONLY £17.00 P.A. NEXT 30 YEARS. The SPACIOUS MAISONETTE, fully DOUBLE GLAZED and with FULL GAS FIRED CENTRAL HEATING, comprises:

3 Bedrooms (2 doubles, 1 single)
Bathroom with bath, w.c. and wash hand basin
In addition there is a shower room with shower, w.c. and wash hand basin
Spacious Lounge with fitted kitchen/dining area

Outside

Covered yard at side of property.

Tenure

The shop premises are held on a new 20 years renewable lease from a private landlord from March, 2009 at a rental of £10,000 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years.

Uniform Business Rates: £2,040 p.a. approx. (after small business relief)

THE BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 5 YEARS AND IS NOW SOLELY OFFERED FOR SALE DUE TO RETIREMENT.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Price

TO INCLUDE THE NEW LEASE IN RESPECT OF THE SHOP PREMISES, GOODWILL, FIXTURES & FITTINGS plus VALUABLE LEASEHOLD MAISONETTE £185,000 plus STOCK AT VALUATION
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT

Reference C7197