F/h Newsagent With Excellent Potential And Additional Rental Income | | Undisclosed Worcestershire | | WORCESTERSHIRE F/H NEWSAGENT WITH EXCELLENT POTENTIAL AND ADDITIONAL RENTAL INCOME Main road location in residential area Property with rental income of £32,600 pa Shop sales :£3,000 pw -staff run Huge Scope for working owner F/H: £510,000 REF 9481WR | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 44390
ADVERT IMPRESSIONS : 26,500 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Newsagents | | SALE: | Agent Sale | FREEHOLD: | £510,000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | 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.
THE BUSINESS
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.
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.
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.
REF: 9481WR
TRADING HOURS
Mon-Sat: 6.00am – 5.30pm
Sun: 7.00am – 2.00pm
EXPANSION POTENTIAL
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.
FINANCIAL INFORMATION
We have been advised by the vendor of the following:
Rental income: £32,600 PA
A/T: (Shop): £143,617
Accounts will be made available to interested parties after a viewing has taken place.
Please let us know if you require finance for the purchase of a business.
BUSINESS PREMISES
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.
TENURE: Freehold
We are advised that the annual business rates are currently: £1,200 (flats)
| | | | | | FOR SALE | | | | | REFERENCE: | 9581LE / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
