Hilton Smythe is delighted to welcome to the market this well-established and busy newsagent business, ideally located on a busy street in Chatteris, Cambridgeshire.
The business was established in 1982 and has been in our client's careful ownership since 1992. Only now is the business being offered to the market due to our client's desire for a well-deserved semi-retirement. The business operates 6½ days per week and generates a turnover in the region of £300,000 per annum, with a gross profit of approximately 18%.
Our client offers a wide variety of goods including newspapers and magazines, greeting cards, stationery, soft drinks, confectionery, toys and tobacco products, to name a few. The property is very well maintained and fitted out to suit the trade, with a spacious ground floor sales and display area to the front and a cloakroom, small storage area and WC to the rear.
A leasehold option is available for £50,000+ SAV. We are advised the shop and two bedroomed owner's accommodation will have a rent of £14,000 per annum.
The two-bedroom house is being renovated into two, one bed flats.
This is an excellent opportunity for a new owner 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 Freehold.
There is also a leasehold option available for £50,000.
Rent is around £14,000 per annum.
HOURSThe business is open:
Monday - Tuesday: 5.30am - 5.00pm
Wednesday: 5.30am - 4.00pm
Thursday - Friday: 5.30am - 5.00pm
Saturday: 5.30am - 4.00pm
Sunday: 6.00am - 12.30pm
STAFFThe business is owner run and managed with 1 x part time staff member and 21 x paper boys/girls.
FINANCIAL PROFILEThe business generates a turnover in the region of £300,000 per annum, with a gross profit of approximately 18%.
Aspinall's Newsagents occupies substantial two storey premises, ideally located within the centre of the market town of Chatteris in Cambridgeshire. The business is situated within a parade of complimentary shops and businesses and benefits from a high volume of footfall and passing trade. The business further benefits from free on street parking facilities within the area.
Chatteris is one of the four market towns in the Fenland district of Cambridgeshire, situated in The Fens between Huntingdon, March and Ely. According to the 2011 census, the town had a residential population of 10,453. The town is noted for its annual display of Christmas lights, which have been featured on BBC Look East. Chatteris is a very popular place in which to live and work due to its proximity to Cambridge, Huntingdon and Peterborough.
The area of the business is well served by the public transport system, with bus stops within easy walking distance of the property. The nearest railway station is in Ely, approximately 12½ miles away. The area is also well served by the A-roads, with both the A142 and A141 being within easy driving distance, which link to the national A-road and motorway networks. Peterborough is approximately 27 miles away and Cambridge is 24 miles away.
Substantial two storey premises in an ideal trading location, briefly comprising:
L-shaped sales and display area with:
2 x central display areas.
Greeting card display racks (7 units).
Newspaper and magazine racking.
Upright drink chiller unit.
Serve over counter with electronic cash register with barcode scanner.
Loose sweet display.
Door from shop leads to:
Small storage area.
WC (newly installed).
2x One bedroomed flats
The flats are completely separate from the shop, and will be rented out by our client, if the purchaser does not require them.
Well signed street frontage.