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TWO HIGHLY PROFITABLE BUSINESSES CONVENIENCE STORE & NEWSAGENT BUSY PARADE OF SHOPS SOUTHWICK, WEST

Southwick, West Sussex
Leasehold Price:
£160,000
Status
FOR SALE
Advert ID
252336
Reference
6512G / Rightbiz

The convenience stores are located in a densely populated area of Southwick, and benefits from a high footfall of pedestrians. The businesses have been established since 2005 and only now come to the market due to the vendor’s wish to retire. In the surrounding area there are a number of retail and catering premises, making this a thriving parade of shops serving the local community. The convenience store stocks a wide range of items, including tinned and frozen produce, fresh sandwiches, a range of alcohol, tobacco, traditional confectionary jars and stationary. They also offer the lottery and Paypoint to customers. The grocery store stocks a wide range of items, including tinned and fresh produce, fresh sandwiches, confectionary, a range of alcohol, tobacco, large selection of greeting cards and stationary. They also offer the lottery, Collect and Paypoint to customers.

SHOP 1: The business occupies a double fronted unit on a popular parade of shops in Southwick Square. The convenience store benefits from easy access to on street parking and with a large pay and display car park only a short walk away. Within the store there is a large retail space with a number of central display gondolas, a modern service counter, smart wine and spirit display shelving, modern lighting, a number of open view frozen food display chest cabinets and upright drinks chiller cabinets throughout the retail space. To the rear of the premises is a storeroom with shelving and access to the staff WC’s with fitted wash hand basin.

SHOP 2: The business occupies a double fronted unit on a popular parade of shops in Southwick Square. The convenience store benefits from easy access to on street parking and with a large pay and display car park only a short walk away. Within the store there is a large retail space with a number of central display gondolas, a modern service counter to the rear of the premises, smart wine and spirit display shelving, modern lighting, a number of upright drinks chiller cabinets throughout the retail space. To the rear of the premises is a small storeroom with shelving and access to the staff WC’s with fitted wash hand basin.

TURNOVER (SHOP 1): The business is currently under management and is run by 3 full time members of staff. They have an additional 9 members of staff who are responsible for managing and delivering the paper rounds, of which they have 15. At present the business currently trades 7 days a week, 7am-10pm, Monday –Saturday and 7am-9pm on Sundays.   We are informed that the current average turnover is £9,500 per week, (this excludes lottery and Paypoint income). The wholesale newspaper bill averages £1,500 per week.

TURNOVER (SHOP 2): The business is currently under management and is run by 2 full time members of staff. At present the business currently trades 7 days a week, 6am-8pm, Monday –Saturday and 7am-4pm on Sundays.   We are informed that the current average turnover is £10,500 per week, (this excludes lottery and Paypoint income). The wholesale newspaper bill averages £1,200 per week.

 TENURE (SHOP 1): The premises are held on a full repairing and insuring lease, which has approximately 5 years unexpired at a current rent of £12,345, per annum, exclusive. 

TENURE (SHOP 2): The premises are held on a full repairing and insuring lease, which has approximately 4 years unexpired at a current rent of £10,510, per annum, exclusive. 

RATES (SHOP 1): We have been verbally informed that the Rateable value is £10,000 and the rates payable are £4,800.  Prospective occupiers should make their own enquiries to verify same.

RATES (SHOP 2): We have been verbally informed that the Rateable value is £8,500 and the rates payable are £4,080.  Prospective occupiers should make their own enquiries to verify same.

GENERAL REMARKS: The businesses were personally inspected by the vendor’s sole agents who can confirm that the entire premises are fitted and equipped to an excellent standard.  Other Points to Consider: Security of leasehold tenure. Established business. Early Inspections Advised. 

PRICE: We are instructed to quote for the leases, goodwill, equipment, trade fixtures and fittings £160,000.00 SAV (Stock valued estimated at £50,000)

LEGAL FEES:  Each party to be responsible for their own legal costs.

 

Listing Details
Leasehold Price: £160,000
Tenure: Leasehold
Location: Southwick, West Sussex
Sector: Convenience Stores, Newsagents, Off Licences
Financials
Annual Turnover: £1,000,000
Annual Net Profit: Available upon request
Key Features
  • Accounts Available
  • Fully Fitted
  • High Turnover
  • Established Business
  • Prime Location
Contact Agent
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Advert Reference: 6512G / Rightbiz
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