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Well Established Newsagents

Portsmouth, Hampshire
Leasehold Price:
£80,000
Status
FOR SALE
Advert ID
242361
Reference
B05196 / Rightbiz
01204556300
Business
Hilton Smythe are delighted to present to the market Reeds News, a busy community Newsagents with over 25 years of goodwill. Our clients purchased the business 15 years ago and due to family reasons, they are now having to relocate to London which is now forcing the sale.

There will be a new and very attractive lease available with the business which also includes the potential to extend the shop at the rear. The business benefits from 0 rates paid in the current year.

The business offers -

  • Large range of Magazines, newspapers and greeting cards
  • Crisps, confectionery, bagged sweets, ice cream
  • Cold drinks, grocery items and pharmacy goods
  • Very large selection of wines, beers and spirits
  • Cigarettes, vaping fluids and papers
  • Lottery, Paypoint and parcel collection
  • Western union money transfer, mobile phone top up
Sales are split £6-7,000 retail, £15,000 Paypoint transactions, £3,000 lottery transactions.

The business attracts a very loyal customer base of residents, shoppers and retail workers.

There is opportunity to re model the shop and extend the retail space to the rear of the unit, extending the hot food to go and grocery lines could add extra sales as well as adding more mobile phone accessories or repairs.

Early viewing is recommended.



Location
Reed News occupies a highly enviable central trading position on London Road in Portsmouth, Hampshire.

The business sits along the areas main shopping High Street which includes many independent retailers and cafes, major High Street banks and building societies as well busy betting shops, pharmacies and supermarkets such as Iceland, Aldi.

There is also a popular junior school Isambard Brunel junior school within walking distance of the shop.

The High Street is accessed just off the busy M275 link rows which connects commuters to both the centre of Portsmouth and to the nearby M27/A27 cross country motorway.

Portsmouth is a thriving port City and naval base on the South coast, mostly spread across Portsea Island. It is known for its maritime heritage and historic dockyard.

The business benefits from 2 x nearby pay and display customer car parks.



Premises
Ground floor - 2 triple width open chillers, double width glass fronted chiller, newspaper stand, magazine display unit, crisp stand, grocery display shelving, ice cream freezer, confectionery shelving, very large open alcohol chiller, wine shelving.

There are 16 x cameras throughout.

Service counter - 2 x epos till points, lottery machine, Paypoint machine, card machine, storage shelving, cigarette gantry, large area for spirits, vaping fluid stand.

Rear stockroom / kitchen area.

Staff toilet.

Access to private yard and bin storage area.



Tenure
A new 10 year lease will be made available to any new buyer paying £13.000 per year.



Hours
MONDAY TO SATURDAY - 5am to 10 pm
SUNDAY - 8am to 5pm




Staff
The business is run and managed by our 2 clients only.



Financial Profile
The business generated an annual Turnover as of the 2017 accounts of £435,063, with a gross profit of £62,541 and adjusted net of £35,000



Seller Details
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Listing Details
Leasehold Price: £80,000
Tenure: Leasehold
Location: Portsmouth, Hampshire
Marketed By: Hilton Smythe
Sector: Newsagents
Financials
Annual Turnover: £435,063
Location Statistics
What's nearbyi:
The Derby Tavern (approx. 0.1 mile)
Britannia Southern (approx. 0.1 mile)
Blades Jeff (approx. 0.1 mile)
Derby Road Group Practice (approx. 0.1 mile)
Winmill Martin (approx. 0.1 mile)
We Buy Any Car Portsmouth (approx. 0.3 mile)
Church of England Diocese of Portsmouth (approx. 0.3 mile)
Lok'nStore Self Storage Portsmouth (approx. 0.3 mile)
Portsmouth International Ferry Port drop off (approx. 0.4 mile)
ATM (approx. 0.4 mile)
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