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Leasehold Newsagents Located In The Birmingham Jewellery Quarter

Birmingham, West Midlands
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Leasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery QuarterLeasehold Newsagents Located In The Birmingham Jewellery Quarter
  • Leasehold: £99,950
  • Turnover: Not Applicable
  • Net Profit: Not Applicable

Business Details

Leasehold Newsagents Located In The Birmingham Jewellery Quarter
Retail Area (1,000 SQ FT)
Ref 2700

Location
This respected Newsagents is located in the heart of the famous Jewellery Quarter in Birmingham which dates back more than 250 years. A designated conservation area with over 200 listed buildings and also boasts Birmingham’s last remaining Georgian Square in the tranquil surroundings of St Paul’s Square. Not only does the Quarter have a heritage, it also has an expanding and thriving business community, a growing residential population with an abundance of new build apartments and an established retail sector that boasts over 500 jewellery retailers, specialist retailers, bars and restaurants. All of which bring high levels of footfall to the area.

Asking Price: £99,950 plus SAV (£20,000)

Business Description
Veritas Business Sales are delighted to offer for sale this established Newsagents which is located in The Birmingham Jewellery Quarter. The business has been established for over 100 years and has been in the careful hands of our clients since 2000. They are now offering the business for sale so that they can enjoy a well deserved retirement.
Since ownership they have continually invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is owner operated by a husband & wife team and comes with no staffing liabilities and for year ending 31st August 2021 posted an annual turnover of £301,733 net of vat with a GP of £61,304 (20.32%). They retail groceries, stationary, cold drinks, milk, sandwiches, confectionery, newspapers (counter sales only, bill £500 per week), magazines, greeting cards, hardware, medicines, toiletries, tobacco, vape products, beers, wines and spirits. Other services include a takeaway coffee machine, bus passes, The National Lottery (sales £2,500 weekly) and Payzone (sales £1,000 per week).
We believe that there is further potential to increase trade by expanding upon the current opening times, introducing newspaper deliveries, offering a parcel drop/collection services and by offering food on the go. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting shoppers. This is a superb opportunity to purchase an established business which is a great base to build upon and as such early viewing is highly recommended as this is one not to be missed.

Opening Hours
Monday – Friday – 6:00am – 6:00pm
Saturday – 8:00am – 5:00pm
Sunday – closed
Bank holidays – closed

Leasehold
Original term: 10 years (Renewable)
Remaining: 6 years
Rent: £23,020 plus vat pa
(includes water, refuse collection & skip access)
Reviewed: 2023
Rates: £4,600 pa

Ground Floor
Retail comprising: serve over sales counter with electronic EPOS till system, lockable tobacco kiosk, lottery terminal, news & magazine shelves, sales & display shelves, central display isles, stationary section, greeting cards section, large ice cream freezer, vape cabinet, photocopier, 3 x 2 door drinks chillers, 2 door beer fridge, dairy fridge, Nescafe & Go instant coffee machine and rear exit door.
Office & storeroom with storage cupboard and some loft storage space above.
W/C with wash basin.

The property benefits from a CCTV (4 camera system, Redcare alarm and electric roller shutter to the front and rear.

External
Shared rear access with parking space for (1) at an additional cost of £60 PCM.

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Stay Safe

Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.

Stay Safe

The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

Stay Safe

Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.

Stay Safe

Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

Stay Safe

Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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