Very Busy Newsagents In Nottinghamshire | | Bulwell Nottinghamshire | | Very busy traditional newsagent located in market town of Bulwell. Weekly sales in region of £14,000 with lottery and PayPoint commission extra. Rent £17,500 pa, 3 years remaining on renewable lease. Early viewing recommended. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 69316
ADVERT IMPRESSIONS : 5,439 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Newsagents | | SALE: | Agent Sale | LEASEHOLD: | £65000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | LOCATION:
The business is located in the busy market town of Bulwell which is approximately 4.5 miles north-west of Nottingham city centre. The shop occupies an excellent trading position being on a main pedestrian street running through the town and is surrounded by densely populated housing estates.
BUSINESS:
This trades as a newsagent retailing a range of newspapers, magazines, cigarettes and tobacco with the addition of confectionery, snacks, cold drinks and confectionery gifts.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The premises consist of a ground floor lock up shop with 2 upper floors of ancillary storage within a 3 storey inner terrace.
Retail area
The retail area is well presented and measures approximately 560 sq ft. It is equipped with wall mounted magazine display unit, confectionery display shelving, upright cold drinks display chillers, counter, PayPoint terminal and wall mounted cigarette gantry.
Storage
There are storage facilities adjacent to the retail area of 122 sq ft and also to the rear of the shop measuring 180 sq ft. Additional space can be found on the first (544 sq ft) and second floors (638 sq ft).
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
TENURE:
This is a leasehold opportunity and we are advised there is a 5 year lease in place which commenced December 2009 and expires in December 2014. The lease is within the LTA 1954 and as such renewal rights apply. The current rent payable is £17,500 per year. Please be aware that the landlord will require references to support your application and that a rent deposit of between 3 and 6 months may be requested.
RATES:
We are advised that the rateable value for the year 2011/12 is £18,750 and that the rates payable for the same period are £8,418.
NOTE:
It is recommended that potential buyers make their own enquiries through the local authority to check the rateable value and whether the rates payable will be the figure quoted above.
TRADE:
Accounts provided show a turnover of £744,095 for the year ending July 2011, with a gross profit of 14%. The net profit was £69,678 although this does not include wages or salaries. This shop is wholly management run and would ideally suit an owner operator in which case the current level of staff could be reduced.
Please note that if a business is VAT registered, all figures are net of VAT.
HOURS:
Monday to Saturday: 8.30am to 5.00pm
STAFF:
There are currently five members of staff employed including a manager and assistant manager. They work a total of 144 hours a week.
STOCK:
The vendor informs us that the value of the stock is approximately £23,000.
LEGAL FEES:
Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord’s legal costs on a 50/50 basis. If a buyer wishes to negotiate a ‘new’ lease, they will be responsible for all the landlord’s legal costs.
COMMENTS:
1. National Lottery and other agencies
The transfer of a National Lottery agency or any other agency are at the sole discretion of those operators. In some instances a transfer could incur the payment of a “bond” or deposit to the agency confirmed.
2. Deposits
Successful bidders are to pay a non-refundable deposit to Adams & Co of £4,000 which will be offset on completion of purchase against the purchase price. In the event the purchaser reneges on the agreed terms and conditions of a sale and purchase, the deposit will be forfeited. In the unlikely event the vendor withdraws, the deposit will be repaid in full.
3. Timescale
The sale and purchase of the subject businesses will be on a Subject to Contract basis. Time will be of the essence, insofar as proposed purchasers will be required to enter into a contract, albeit conditional upon landlord’s consent and within a maximum of 21 days from the date that draft documents are received by their solicitors. Proposed purchasers should ensure that their solicitors are made aware of this condition of sale and are capable of dealing with the vendor’s standard form of contract within the required timescale.
4. Trade fixtures, fittings and equipment
The business is offered for sale as going concerns to include most of the fixtures, fittings and equipment. However, any scanning system/tills will NOT be included in any proposed sale. The home news delivery (HND) computers (where applicable) can be included, but are subject to separate negotiation. In the event that a purchaser does not require a computerised HND system, the vendor will provide a list of delivery customers and debtors and it will be the purchaser’s responsibility to acquire and install a manual system. Inventories will be made available once sales have been agreed. In addition to items owned by the vendor and included in the proposed sales, these inventories will also include items that are the property of suppliers and/or manufacturers and proposed purchasers should make their own enquiries with regard to the continuing use of these items. | | | | | | FOR SALE | | | | | REFERENCE: | EM9570 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
