For Sale

Newsagent With Large Local Repeat Customer Base

Barking, Essex

£89,999 +SAV

Ref: B04803

Contact sales negotiator

Sarah Moores

01204556309

Email Sarah Moores

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Description

Hilton Smythe welcomes to the market Newsagents, which has been owned by our client since 2003, our client is now looking to have a change in career.

This is a traditional newsagent selling:

• Tobacco products
• Lottery
• Mobile top ups
• Oyster cards/top ups
• Photocopying
• Newspapers
• Magazines
• Hallmark greeting cards
• Confectionery
• Crisps
• Soft drinks

There is also an ATM inside the shop which brings in regular custom.

Being set in a highly populated residential area there is a large local repeat customer base along with many other customers who pass by the shop, which is set close to a busy junction with bus stops and phone box outside.

There is huge scope for development of the business by considering the following:

• Introducing paper rounds
• Introducing grocery lines
• Apply for an alcohol licence
• Create a website
• Create a social media page
• Open until 7.30 pm on lottery days

There are many reasons to buy the business including:

• Long established business
• Repeat custom
• Scope for development
• Main road location with high footfall

Hilton Smythe highly advise early viewing to avoid disappointment.

Tenure

Leasehold

We are advised the business is being sold as a Leasehold business opportunity with a 20-year Lease from 2012.

The annual rent is £16,500

Hours

The business opening hours:

Monday - Thursday: 6.45 am – 7.00 pm
Friday - Saturday: 6.45 am – 7.30 pm
Sunday: 7.00 am – 2.00 pm

Staff

The business is run and managed by our client, with the help of some part time staff.

Financial Profile

Newsagents generated an advised turnover of circa £188,722 as of the 2016 accounts.

Location

Newsagents is located in Barking, Essex, on a busy parade of shops on the main A124, which leads through Barking.

The shop is located opposite Barking Park, close to a major road junction and has a phone box outside along with being on main bus routes, 3 local schools and a bus garage opposite, all of these bring in a high footfall, together with the local residential population.

Barking is a suburban town in the London Borough of Barking and Dagenham, in the 2011 census the population of Barking and Dagenham was 185,911

Premises

Entrance door to the double fronted shop:

• Card stands
• Gift wrap stands
• ATM
• Multiple drinks chillers
• Multiple shelf confectionery stand
• Lottery stand
• Photocopier
• Ice cream freezer
• Coffee machine

Service counter

• Lottery terminal
• Tobacco gantry
• Till

Behind the counter is the store room with multiple racking, sink, office area and toilet off.This area could be extended into in order to create a larger retail area.

To the rear of the store room is a yard, which could also be extended in to.

There is a 8 camera CCTV system and air conditioning.

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