Hilton Smythe is delighted to welcome to the market this well-established and busy newsagent and convenience store in Middlesbrough, North Yorkshire.
The business was originally established in the 1980s and has been in our client's careful ownership since 1996. Only now is the business, reluctantly, being offered to the market, due to our client's desire for a well-deserved retirement. The business currently operates 7 days per week and generates a turnover in the region of £500,000 per annum, with a gross profit of approximately 18%.
Our client offers a wide variety of goods including newspapers and magazines, convenience items, confectionery, greeting cards, frozen goods, dairy produce, alcoholic beverages, soft drinks, Lottery, scratch cards and tobacco products, to name a few. The business also has Pay point facilities and a cash machine, which generates £360 per week commission. The property boasts 69 sq. metres of floor space, is very well maintained and fitted out to suit the trade.
The business has built up an excellent 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, perhaps by opening later in the evening. A new owner could also embark on a modest marketing campaign to highlight the excellent goods and service offered.
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already thriving and busy business to the next level; therefore, early viewing must come highly recommended to avoid disappointment.
TENUREWe are advised Leasehold:
Original lease length: 9 years from 2013
Review every: 3 years.
Rent: £5,600 per annum.
The business has a licence to open until 11.00pm
HOURSThe business is open:
Monday - Sunday: 6.45am - 7.30pm
STAFFThe business is owner run and managed with 4 x part time staff members.
FINANCIAL PROFILEThe business generates a turnover in the region of £500,000 per annum, with a gross profit of approximately 18%.
Evans News occupies substantial ground floor premises, ideally located within the town of Middlesbrough in North Yorkshire. The business is surrounded by densely populated residential areas, from which the business derives much of its trade. The business further benefits from good car parking facilities to the front of the premises.
Middlesbrough is a large industrial town on the south bank of the River Tees in North Yorkshire. According to the 2011 census, the town had a residential population of 138,400. The town centre consists of four shopping centres, the largest of which is the Cleveland Centre. There are a variety of stores from high street chains to aspirational and lifestyle brands.
The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. There are two railway station within half a mile of the business, James Cook and Marton. The area is also well served by the A-roads, with the A172 being within easy driving distance, which links to the national A-road and motorway networks. Middlesbrough town centre is 3 miles away and Stockton-on-Tees is 8 miles away.
Substantial ground floor premises in a prime trading location, briefly comprising:
Large open plan retail area.
Serve over counter with two EPOS cash registers.
Scratch card display.
Pay point facilities.
Perimeter and central display shelving throughout the store.
Oven & pie warmer.
Large chiller unit.
2 x freezers.
2 x stock rooms to rear.
Free parking facilities.