THIS BUSINESS IS NOW UNDER OFFER

Well Established Newsagents For Sale

Wellingborough, Northamptonshire

Status

UNDER OFFER

Date Submitted:

04/10/21

Advert ID

283872

Reference

B06475 / Rightbiz
Leasehold: £79,995
Annual Turnover: Not Applicable
Business
Please quote reference B06475

Hilton Smythe is delighted to welcome to the market Brook Street News, a well-established and busy newsagent business, ideally located on a main road in Raunds, Northamptonshire.

The business was established in the 1970’s and has been in our client’s careful ownership since 2017. Only now is the business being offered to the market due to our client’s retirement.

The newsagents offer a wide variety of goods including newspapers and magazines, confectionery, general convenience items, soft drinks, greeting cards, tobacco products and the lottery, as well as being a dry-cleaning agent and having a Kodak photographic station within the shop, which also prints personal gifts.

There are 13 paper rounds, delivering to 500+ customers, news sheets weekly are in the region of £4,765 per week.

The business operates 6½ days per week and generates a turnover in the region of £405,000 per annum, with a gross profit of approximately 27%.

The business has built up an enviable reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel there is scope to increase the turnover by extending the opening hours of the business, perhaps by staying open later in the evening. A new owner could also extend the range of the products offered, perhaps by applying for an alcohol licence. The business would also benefit from a modest marketing campaign to promote the goods offered.

The property is presented to a very high standard and boasts a self-contained, three-bedroom flat to the first floor, with its own entrance, which offers the possibility to use it as owners’ accommodation or let it out to generate further income. The flat is currently with a managing letting agent and generating an income of £728 per calendar month (after the agent’s fee of 8%).

Full asset list upon request.

This is an excellent opportunity for a new owner to take this busy newsagent business to the next level; therefore, early viewing must come highly recommended.



Location
Brook Street News occupies substantial two storey premises, ideally located in the town of Raunds, near Wellingborough, Northamptonshire. The business is surrounded by a wealth of complimentary shops and businesses; therefore, benefiting from a high volume of footfall and passing trade. The area of the property is bordered by densely populated residential areas, from which the business derives much trade.

Raunds is a small market town in rural Northamptonshire and according to the 2011 census it has a population of approximately 8,641 residents. The town is a popular place in which to live and work, with many commuters traveling to the larger centres of Kettering and Wellingborough.

The area of the business is served by the public transport system, with bus stops within easy walking distance of the property. The nearest railway station is approximately 9 miles away in Wellingborough. The area is also well served by the A-roads, with the A45 being within easy driving distance, which links to the national A-road and motorway networks. Rushden is approximately 6 miles away and Kettering is 16 miles away.



Premises
Prominent two-storey premises, briefly comprising:

Ground floor:

Main sales and display area with Serve over counter with electronic cigarette display stand, electronic cash register, Lottery terminal, Pay point terminal, Health Lottery terminal and tobacco gantry behind.

Rear store room with office area and kitchenette.
WC.
Rear exit door leading to owners’ car parking area and garage.


First floor:

Self-contained flat with separate entrance.
3 x bedrooms.
Lounge.
Kitchen.
Utility room.
Bathroom with shower above bath.


External:

Well signed (Mace branded).
Side driveway leading to parking area and garage.




Tenure
We are advised the business is being sold on a Leasehold basis with 15 years remaining on the Lease, the rent is £1350 per month.



Hours
The business trading hours are as followed:

Monday to Friday - 05:30am - 16:30pm

Saturday - 05:30am - 13:30pm

Sunday - 05:30am - 12:00pm



Staff
The business is run and managed by 3 full time and 1 part time staff member along with 13 paper deliverers.



Financial Profile
We are advised the business generated a turnover of circa £400,000 as of 2020, further financial information can be made available upon request.

Please quote reference B06475



Contact Agent
Advert Reference:
B06475 / Rightbiz
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