Well established Newsagents with a brilliant reputation

Newcastle under Lyme, Staffordshire

Status

FOR SALE

Date Submitted:

04/09/20

Advert ID

264524

Reference

B05919 / Rightbiz
Leasehold: £69,995
Annual Turnover: £374,775
Annual Net Profit: Not Applicable
Business
Please quote reference B05919

Hilton Smythe are delighted to present to the market, the News Shop, a very well-established traditional Newsagents with over 75 years trading history within the heart of this bustling Town.

The business has been in the hands of our client since 2009, who is now selling the business due to his other business interests.

The much-loved business attracts teachers, lecturers and students from the local University & College, local shop workers, nearby office workers shoppers & diners as well as core group of loyal customers who still receive a daily delivered newspaper.

Currently the shop offers the following goods & services –

  • Confectionery, crisps, cold drinks and juices
  • Ice cream, bagged sweets, cereal bars, chewing gum
  • Newspapers, magazines (including the delivery of 60 newspaper to local accounts)
  • Lottery, lottery cards, Payzone, mobile phone tops ups
  • Cigarettes, tabacco, lighter refills, stationery
There is also the potential to add the following goods & services –

  • Alcohol – beers, wines & sprits would be very popular
  • Parcel delivery & collection
  • More grocery, household good items
  • Children’s toys
  • Extending the current opening hours
Due to the size of the shop, it would be beneficial if any new owner investigates the possibility of adding a ‘Local Post Office’ counter to the business. We would also recommend general updating and reconfiguration of the current shop space to allow for more lines/services to be added.

Very rarely to newsagents of this standard come onto the open market and we therefore strongly recommend early viewing to avoid disappointment.



Location
The News Shop occupies a highly enviable trading position along the Ironmarket, situated within the heart of Newcastle-under-Lyme, Staffordshire.

Ironmarket is 1 of the major shopping/leisure streets leading into the Town’s busy roundabout which connects the A52, A53 (King ST) and A527.

The News Shop is surrounded by many destination stores which include New Look, Scott’s Menswear, Vodafone, Home Bargains, Claire’s Accessories, Tony & Guy as well as major Pubs & Restaurants including Yates, George & Dragon, The Royal Orchid & Wetherspoons. We are advised the ‘Rare Lounge Bar & Steakhouse’ is a significant pull to this part of Town also.

Astley Walk Shopping Centre is located 2 mins left of the business and there are 2 main Council offices located either side – Newcastle-under-Lyme Borough Council and Staffordshire Council as well as the Magistrates Court, Justice centre.

Newcastle-under-Lyme is a popular Market Town which derives its name of a ‘New Castle’ dating back to the 12th century.

The mainline train station and bus station are within walking distance.



Premises
Ground Floor –

  • Raised service counter – includes cash register, card machine, payzone point, lottery terminal, storage shelving, cigarette gantry, display shelving to the rear wall.
  • Large open plan customer area – includes 3 x double fronted Coke Cola branded drinks fridges, 2 x further double fronted chillers, Walls ice cream freezer, lottery stand, 2x crisp stands, fixed confectionery shelving units, stationery shelving
  • Rear stockroom
  • Staff kitchen area/toilet


Tenure
We are advised the business is to be sold as a Leasehold with a 15 year lease in place with 7 years still remaining paying an annual rent of £18,600.

The business benefits from full small business relief on the business rates in the current year.



Hours
MONDAY – SATURDAY - 6.30am to 5.30pm
SUNDAY – 6.30am to 12.30pm




Staff
The business is run and manged by our client with the part time help of his daughter.



Financial Profile
As of the 2019 accounts, the business achieved a Turnover of £374,755 with an Operating profit of £49,250.

Please quote reference B05919



Contact Agent
Advert Reference:
B05919 / Rightbiz
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