Excellent Newsagents In Barrow In Furness | | Barrow in Furness Cumbria | | Located on main shopping street in town centre. Very busy shop with weekly takings in region of £13,000 plus lottery and paypoint commission. Rent £24,050 pa, 5 years remaining on renewable lease. Currently management run but would suit owner operator. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 69526
ADVERT IMPRESSIONS : 6,711 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Newsagents | | SALE: | Agent Sale | LEASEHOLD: | £59950 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | LOCATION:
The business is located in the centre of Barrow-in-Furness which is a large industrial town and seaport in the county of Cumbria. The shop is situated on a main shopping street in the town centre surrounded by other quality outlets.
BUSINESS:
This is a traditional CTN with a high level of tobacco sales, and with the added benefit of Lottery and Paypoint commissions. The shop is currently run by a manager but would suit an owner operator situation, and this would obviously increase the net profit available to the new owner. The shop trades under the Supernews brand but this is not included in the sale and any new owner would need to re-name the business.
BUSINESS PREMISES:
These consist of a ground floor lock-up unit which has glazed frontage secured by full width electric shutter. The retail area is well presented. It is equipped with wall mounted magazine display unit, confectionery display shelving, upright cold drinks display chillers, counter, PayPoint and Lottery terminals and wall mounted cigarette gantry. There is storage space adjacent to the retail area.
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 there is a 25 year lease in place which commenced September 1991, expiring in 2016. The current rent payable is £24,050 per year.
The lease in within the LTA 1954 and renewal rights apply. Please be aware that the landlord will require references to support your application as a tenant and may require a rent deposit.
RATES:
We are advised that the rateable value of the business is £22,250 with rates payable for 2011/12 of £9,634.
NOTE:
It is recommended that potential buyers make their own enquiries through the local authority to check whether the rateable value remains correct and whether the rates payable will be the figure quoted above.
TRADE:
From accounts provided turnover for the 12 months ending July 2011 was £688,644 with a GP of 15%. Accounts are attached to these particulars.
Please note that if a business is VAT registered, all figures are net of VAT.
HOURS:
Monday to Friday: 8.30am to 5.00pm
Saturday: 9.00am to 5.00pm
STAFF:
This shop is one of many owned by a large company and there are currently 4 members of staff employed, including a manager. They work a total of 106 hours.
STOCK:
The vendor informs us that the value of the stock is approximately £TBC
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: | WN9573 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
