Old Established Newsagent in Hampshire For Sale

Situated in a small parade, excellent trading position, residential, office and commercial area, HAMPSHIRE

Turnover £ 12,500
Price £195,000

Features

Well Established Newsagents

Ample customers' car parking as there are no parking restrictions in front of shop.

DOUBLE FRONTED PREMISES in the region of 580 ft² with ELECTRIC SHUTTERS. Tiled floor, suspended ceiling with fluorescent lighting. Air conditioning with hot air. Sales counter, EPOS till, 6m open cool display unit, glass fronted upright 4-door drinks display fridge, modern adjustable shelving, ice cream freezer, 8ft 4-door freezer. CCTV system (8 cameras, 1 monitor).

Storeroom.

Toilet with w.c. and wash hand basin

Kitchen

Turnover

WE ARE INFORMED by the owner the turnover currently averages £12,500 p.w. with a gross profit of 22% approx. Lucrative wholesale newsbill £2,500 p.w.

WE ALSO UNDERSTAND that in addition to the turnover the business also enjoys a commission of:

PAY ZONE £20 per week approx.
UPS Parcels £15 per week approx.

Staff

The business is at present operated by a husband & wife team with the assistance of 3 part time staff. 6 newsrounds, delivery charge £3 p.w.

Trading Hours

7 Day week
MONDAY - SATURDAY 5 a.m - 7 p.m
SUNDAY 6 a.m - 1 p.m

Accommodation

THE SELF CONTAINED ACCOMMODATION with Gas Fired Central Heating, Double-glazed windows, at present let on a shorthold tenancy providing a rental income of £1,000 per month. The accommodation comprises:

3 Bedrooms (2 doubles, 1 single)
Lounge
Kitchen
Bathroom with bath, w.c. and wash hand basin

Outside

Rear garden, double garage and parking space for 1 car.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 20 years in 2018 with reviews every 5 years (next review 2028) at a current rent of £13,200 p.a. (As will be appreciated with the current rent of £12,000 p.a. from the accommodation, the net rent payable at the present time is only £1,200 p.a).

NIL Business Rates after full relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2005 AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £195,000 plus STOCK AT VALUATION (£40,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 97,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote