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Saturday 23rd of Sep 2017 - My Account - Register - Brokers - Bookmark RightBiz
Leasehold:
£19,000

Busy High Street Newsagents Premium Advert

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Further Details
Reference13944 H / RightBiz
Status
FOR SALE
Advert ID197778
LocationCity of Bristol, Bristol
SectorConvenience Stores, Newsagents
Leasehold Price£19,000
Annual Turnover£178,500
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LOCATION
Tovey News is situated on a busy thoroughfare in Kingswood, a busy outskirts location near the city of Bristol.
With clean modern and vibrant signage, the premises are easily locatable on the main A420, adjacent to a zebra crossing, and within the vicinity of other businesses both independent and major. Plenty of Free on- street parking and bays exist to the main road and surrounds, offering an excellent 'stop and go' trade.

Kingswood is a popular suburban part of Bristol, just over 3 miles from the city centre itself, and has plenty of densely populated residential areas. The average semi-detached house price is circa £235,000 in the location, having excellent public transport and local road links including the A420 on which the business sits, and the M32, M5 network nearby.
The area has plentiful local amenities including Pubs, Restaurants, Convenience Stores, Schools and Day Nurseries, and has a local population of around 40,000 people made up of 4 wards.

BUSINESS
Hilton Smythe welcomes to the market Tovey News, a delightful entry level and easily managed business at a very keen asking price, For Sale due only to our client's other pressing employment priorities.
A very busy high street newsagent with 4 main, yet expandable news rounds, and regular local confectionary, lottery, tobacco, and convenience item trade. With a Paypoint service, there is also the possibility to expand into a parcel collection point for Hermes, DPD or Amazon and alike.
Serving a busy local and wider community, the business benefits plenty of regular and repeat clientele, as well as much passing trade and 'stop and go' traffic. The addition of a website, social media, or more online presence would help the business increase sales. Having been a local newsagent for decades, there is a regular and loyal client base, yet plenty of organic growth remains.
Owing to other commitments, the business is run at a pace and lifestyle benefit to suit our clients. Although a steady weekly turnover exists, there is plenty of scope and growth for a hands-on partnership or husband wife team to push the trade further by altering the opening hours, and adding further news rounds or additional services.

PREMISES & EQUIPMENT
A simple open plan and easy to operate premises circa 41 sqm.
Large privacy glass window elevation with entry door, leading to mainly open plan yet well set out and displayed shop floor, with rack mount shelving, news stand, gondola displays, rear counter, servery and payment station.
Rear storage and stock room, ancillary areas, kitchenette / staffing area and WC.

TENURE
We are advised the business is being sold as a Leasehold business opportunity
Original lease length: 35 Year renewable lease term
Remaining lease length: As of 2017, 5 years remain on the lease.
Review period: 5 Yearly
Rent: £1500 per quarter.
Currently no business rates are payable.

HOURS
The business opening hours:

Monday: 05:00 to 17:00
Tuesday: 05:00 to 17:00
Wednesday: 05:00 to 17:00
Thursday: 05:00 to 17:00
Friday: 05:00 to 17:00
Saturday: 05:00 to 16:00
Sunday: 06.00 to 13.00

STAFF
The business is run by a hands-on husband and wife team.

FINANCIAL PROFILE
As per 2016 accounts turnover is in the region of 178,500 with gross profit at circa 19%.
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