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Reference C9187

Newsagent in Essex For Sale

Newsagent in Essex For Sale
Newsagent in Essex For Sale Buy a Newsagent in Essex For Sale Sell a Newsagent in Essex For Sale Newsagent in Essex For Sale for Sale

Register to see map and to make an appointment Situated in a parade, excellent trading position with the advantage of main bus station in front of parade, ESSEX

Turnover 14,500
Price 140,000

Features

Profitable well Established Mainly Counter News, Confectionery, Tobacco, Greeting Cards Slight Convenience Groceries

Turnover currently 14,500 p.w. Gross profit year ending March, 2019 122,825 i.e. 24.48% plus lottery commission & other commissions of 16,278 providing an overall gross profit of 139,103.

The business has been in the same hands for the past 13 years & is now solely offered for sale due to retirement.

SPACIOUS DOUBLE FRONTED SALES SHOP suspended ceiling with concealed lighting, 2 air conditioning/heating units. Well equipped including counter, 2 electronic cash registers, modern shelving, 2 double door glass fronted display fridges (both on loan from Coca Cola), 2 open cool display units. CCTV system with 7 cameras, monitor plus recording.

Stockroom
Staff w.c. & wash hand basin

First floor stockroom
2 w.c's

Turnover

WE ARE INFORMED the turnover averages 14,500 p.w. in our opinion offering further potential to increase, especially with the the introduction of the sale of wines, beers & spirits, subject obviously to obtaining the necessary Premises & Personal License & indeed with additional opening hours. Wholesale newsbill 1,100 p.w. We are further advised that the sales year ending 31st March, 2019 showed 501,666 with a gross profit of 122,825 i.e. 24.48% plus commissions received as follows: on line national lottery commission 13,300. Payzone commission 74. Phone cards commission 864. Bus Pass commission 1,488. E-Pay commission 474. Bus coaches commission 78. Providing a total commission of 16,278 providing an overall gross profit of 139,103. Net profit shown 61,017 before bank charges, bank loan interest & hire purchase.

Staff

The business is at present operated by the vendor with the assistance of 2 full time staff. 1 newspaper delivery is undertaken to a closeby hospital only by car & provides sales of approximately 300 p.w.

Trading Hours

Operated on a 6 days week basis Monday - Saturday inclusive - 6 a.m. - 6 p.m.
NO SUNDAY TRADING
It will be appreciated upon inspection that there is potential for additional opening hours, if desired.

Outside

Parking at rear for 1 car (rental 70 per month)

Tenure

We understand the premises are held on a new 15 years full repairing and insuring lease from the 23rd July, 2019 at a rental of 29,000 p.a. exclusive of rates for the first 5 years with rent review at that time and thereafter every 5 years.

Uniform Business Rates: 12,000 p.a. approx.

AS STATED THE BUSINESS HAS BEEN IN THE SAME HANDS FOR 13 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 SECURE LEASE, GOODWILL, FIXTURES & FITTINGS 140,000 plus STOCK AT VALUATION (15,000/20,000 approx)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to 70,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote

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