Hilton Smythe is delighted to welcome to the market this well established and busy newsagent business, which is ideally located within the village of Brandon, County Durham.
The business was originally established in 1976 and has been in our client's careful ownership since 2000. Only now is the business being offered to the market due to our client's desire for a well-deserved retirement and other interests. The business currently operates 7 days per week and generates a turnover in the region of £294,000 per annum, with a gross profit of approximately 20%, as per the 2015 accounts.
Our client offers a wide variety of goods, including newspapers and magazines, greeting cards, wrapping paper, toys, party products, stationery, confectionery, soft drinks, snacks and tobacco products, to name a few, as well as Lottery services.
The property boasts 116 sq. metres of floor space, is very well maintained and presented to a very high standard. The newsagents have a spacious sale and display area, which is fitted out to suit the trade, to the rear is an office, kitchen, WC and two storage rooms.
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. A new owner could expand the product range offered or embark on a modest marketing campaign, to promote the goods and services. There is also scope to introduce a newspaper delivery service in the area.
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already thriving business to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.
TENUREWe are advised Leasehold:
Original lease length: 5 years
Remaining lease length: 2 years
Rent: £11,500 per annum
HOURSThe business is open:
Monday - Saturday: 7.00am - 6.00pm
Sunday: 7.00am - 1.00pm
STAFFThe business is owner run and managed with 3 x staff members.
FINANCIAL PROFILEThe business generates a turnover in the region of £294,000 per annum, with a gross profit of approximately 20%, as per the 2015 accounts.
Newstore occupies substantial ground floor, lock-up premises, ideally located within the village of Brandon, County Durham. The business is situated within a small retail area and is surrounded by shops and businesses, therefore benefiting from a high volume of footfall. The area of the property is situated within a good-sized housing estate, from which the business derives much trade. The newsagent further benefits from a large free car park.
Brandon is a village in County Durham, it is situated a short distance to the southwest of Durham. According to the 2011 census, the village had a residential population of 9,566. The village grew from a sparsely populated agricultural area into a populous mining district.
The area of the business is well served by the public transport system, with a bus stop directly outside the retail area. The nearest railway station is in Durham, which is approximately 3½ miles away. The area is also well served by the A-roads, with the A690 being just a short drive away, which links to the national A-road and motorway networks. Bishop Auckland is approximately 8½ miles away and Hartlepool is 20½ miles away.
Substantial ground floor, lock-up premises, briefly comprising:
The large retail premise is two units converted into one, providing a large open plan space with potential to increase product lines by introducing more shelving and displays.
The EPOS till is situated at the serving area to the right of the shop, with a tobacco gantry behind.
The perimeter of the shop is complimented with display stands, news and magazine racks, a double door bottle refrigerator and general shelving, whilst card displays, confectionery stands and general retail shelving make up the middle areas of the shop.
To the rear of the service area is a good size office with the computer system for the EPOS till and surveillance screen for the CCTV system. The shop also benefits from a Redcare monitored alarm system.
Leading off from the office are kitchen facilities and a WC.
To the side of the office is a large store room, with a second smaller room to the rear of the first. There are two large safes here and it offers secure storage for tobacco products.
Large car park to rear.