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THIS BUSINESS IS NOW UNDER OFFER

Thriving Newsagent & Convenience Store

Gosport, Hampshire
Leasehold Price:
£44,999
Status
UNDER OFFER
Advert ID
236269
Reference
B04912 / Rightbiz

Details

Business
Hilton Smythe are delighted to offer to the market Newsround.

Established in the heart of Gosport over 20 years ago and reluctantly offered for sale due to our clients wish to concentrate on her young family,

The thriving business recently relocated allowing a full refurbishment of the new unit, including a new alarm system, CCTV system, electric shutters and decor.

All equipment will be included including a full business transfer.

We are advised the business attracts a healthy mix of loyal local customers, office workers, retail workers, commuters and summer tourists.

The business offers the largest choice of magazines in town with many customers taking monthly subscriptions of ranges not available in other similar shops in the area, they also sell:

• Newspapers
• Stationery
• Greeting cards
• Ice cream
• Chilled drinks
• Large range of confectionery
• Bagged sweets
• Children's games and books
• Puzzles
• Cigarettes
• Alcohol
• National lottery
• Pay point
• DHL parcel collection
• Photocopying Services


Currently the business turnover averages at around £20,000 per week which is split £12,000 for lottery, Pay point and DHL and £8,000 for retail sales of the remaining categories.

Our client uses Bookers, Batley’s, Cardwell and Smiths for suppliers who deliver direct.

The business benefits from a very large shop unit which could easily be reorganised to focus on areas which could drive further sales. There is currently a limited selection of wines and spirits which could be improved by increasing the display and choice. Adding a Western Union money transfer service would also increase footfall and sales commission

Any new owner could also look to increase the grocery lines, tourist lines as well as extending the hours especially in the summer months.



Location
Newsround enjoys one of the most enviable trading position on the High Street in Gosport, Hampshire.

The business is surrounded by all the main banks, building societies, borough council offices, retail shops, coffee shops and bars and only 2 mins walk to the Gosport Ferry terminal, a busy Aldi store is 2 mins way including Gosport Marina.

Gosport is a town located on the eastern side of Portsmouth, approx 13 miles by car via the A32 and A27 link roads or only 4 minutes if taken by ferry.

There is a large pay and display car park directly in front of the business.

The business recall relocated to the opposite side of the street due to the development of the existing building into a new multimillion Travelodge hotel with 54 new rooms.



Premises
Very large shop includes:

• Photocopier
• Tall glass fronted beer display chiller
• Tall glass fronted chilled drinks chilled
• Single drinks fridge
• Large open drinks chiller
• Glass fronted drinks chiller
• 3 tier glass fronted ice cream freezer
• Large full-length central display gondolier
• 3 x greeting card stands
• Lottery stand
• Full length magazine stand and newspaper stand
• Raised service counter with storage
• Cigarette gantry
• Pay point machine
• Lottery terminal with scratch cards stand
• Wines and spirits shelving
• Card machine and till


Small stockroom to the right of the counter.

Secure rear office, staff kitchen facilities and toilet.



Tenure
We are advised the business is been sold as a Leasehold opportunity with a renewable 5-year lease in place with 4 years remaining paying £15,500 per year.

The annual business rates payable currently at £8,800.



Hours
Monday to Saturday: 6.30 am - 6.00 pm
Sunday: 8.00 am – 2.00 pm




Staff
The business in owned and managed by our client with the help of 3 part time staff members.



Financial Profile
We are advised the turnover for this current year should be in the region of £1,000,000 with approx £600,000 from lottery, Paypoint and DHL and £400,000 form the retail sales side.

The GP currently averages at around 20% for the combined retail sales and commission paid of around £21,000.



Seller Details
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Listing Details
Leasehold Price: £44,999
Tenure: Leasehold
Location: Gosport, Hampshire
Sector: Newsagents, Convenience Stores
Financials
Annual Turnover: £1,000,000
Location Statistics
What's nearbyi:
National Regional Property Group (approx. 0.5 mile)
Cell Block Studios (approx. 0.5 mile)
Hartgills Seafood (approx. 0.5 mile)
The Hard Interchange (Stand C) (approx. 0.5 mile)
MyDesigns (approx. 0.5 mile)
Postmunt laivai (approx. 0.5 mile)
Britannia (approx. 0.5 mile)
The Ship & Castle (approx. 0.5 mile)
Europcar Portsmouth Harbour (approx. 0.5 mile)
Café Oasis (approx. 0.5 mile)
Listing Statistics
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