Hilton Smythe is delighted to welcome to the market this well-established and very popular newsagent, off licence, Post Office and convenience store, which is ideally located in Keyingham, East Riding of Yorkshire.
The business was originally established in the 1950s and has been in our client's careful ownership since 2004, with the Post Office added in 2013. Only now is the business being offered to the market due to our client's ill health. The business currently operates 7 days per week and generates a turnover in the region of £293,897 per annum, with a gross profit of just over 25%, as per the 2016 accounts, and a Post Office salary of £9,500 per annum.
Our client offers a wide variety of goods and services including newspapers and magazines, convenience items, confectionery, dairy produce, soft drinks, snacks, alcoholic beverages, greeting cards, stationery, scratch cards, Lottery and tobacco products, to name a few. Our client also offers newspaper delivery rounds within the village.
The property boasts approximately 200 sq. metres of floor space with the main shop to the ground floor and three-bedroom accommodation to the first floor, which could be used by a new owner or let out to generate further income.
The business has built up an excellent reputation within the area for the very 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, perhaps by opening longer on Sundays. A new owner could also embark on a modest marketing campaign to promote the goods and services offered.
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this busy business to the next level; therefore, early viewing must come highly recommended to avoid disappointment.
TENUREWe are advised Freehold.
HOURSThe business is open:
Monday - Friday: 6.00am - 9.00pm
Saturday: 7.00am - 9.00pm
Sunday: 7.00am - 12.00pm
STAFFThe business is owner run and managed with 3 x part time staff members.
FINANCIAL PROFILEThe business generates a turnover in the region of £293,897 per annum, with a gross profit of just over 25%, as per the 2016 accounts, and a Post Office salary of £9,500 per annum.
K & G News and Off Licence occupies substantial two storey premises, ideally located within the quaint village of Keyingham in the East Riding of Yorkshire. The business is surrounded by densely populated residential areas, from which the business derives much of its trade. The business benefits from a high volume of footfall and passing trade, as well as free car parking facilities to the front of the premises.
Keyingham is a village and civil parish in the East Riding of Yorkshire. According to the 2011 census, Keyingham parish had a residential population of 2,314. Amenities within the village include a doctor's surgery, a butchers, takeaway outlets, hairdressers and a village hall. The village has one primary school, which was opened in 2007.
The village is served by the public transport system, with bus stops within easy walking distance of the property. The nearest railway station is in Hull, which is approximately 11 miles away. The area is also well served by the A-roads, with the A1033 being within easy driving distance, which links to the national A-road and motorway networks. Hornsea is approximately 18 miles away and Beverly is 22½ miles away.
Substantial two storey premises in an ideal trading location, briefly comprising:
Main entrance into open plan retail premises.
Perimeter racking and shelving.
Refrigerated display units.
Greeting card display unit.
Serve over counter with EPOS cash register.
Post Office counter.
Office with desk and CCTV monitoring system.
Access to first floor.
Access to garage and separate room where newspapers are delivered and sorted.
Separate large stock room.
Large living room.
Family bathroom with corner bath.
Master bedroom with en-suite shower room.
Very well signed.
3 x tall double door drink refrigerators.
Open soft drink refrigerator.
Ice cream freezer.
2 x large central display units.
Newspaper and magazine display units.
Greeting card display racking.
General fixtures and fittings.