Sold

Village Store in Residential Location Mattishall

Dereham, Norfolk

£34,995 +SAV

Ref: 14586 I

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Description

Hilton Smythe is delighted to welcome to the market this well-established and busy newsagent/convenience store in the village of Mattishall within Norfolk. The business has been established for more than 40 years, only now is the business being offered to the market due to our client's relocation closer to family. Our client offers a wide variety of items including newspapers/magazines, general convenience items, tobacco products, confectionery and greeting cards. The National Lottery is also available, this generates circa £3,600 per month; as well as News sheet sales circa, £3,200 per month. This business also benefits from a daily delivery from a local bakery; milk is also delivered every other day. We feel the turnover could be increased by extending the opening hours. The new owner could also embark on a modest marketing campaign to promote the goods and services offered. Mattishall News has built up a fantastic reputation within the area, which has resulted in a very loyal client base with a high volume of repeat trade.

Tenure

Leasehold

We are advised the business is being sold as a Leasehold opportunity. Original lease length: 7years.Remaining lease length: 5 years as of 2017.Rent: £6,900 per annum.

Hours

The business opening hours: Monday - Saturday: 6.30am-6pmSunday: 7.30am- 1pm

Staff

The business is run and managed by our client, with the help of 2-part time staff. One of which works 10 hrs weekly and the other working 12hrs weekly.

Financial Profile

Mattishall News generated an advised turnover of circa £316,000 as of the 2016 accounts, with a gross profit of 10%. EXTRA INCOMEThe below is based on average weekly takings: -News sheet’s – £3,200 per month. Lottery Sales - £3,600 per month.

Location

Mattishall News is located in Mattishall, Dereham, Norfolk. The newsagents is set within a residential location, from which the store receives much of its trade. There is parking directly outside the property for customers to easily call in. Dereham is one of the larger towns in the centre of Norfolk with a population of approximately 18,609. It services a wide hinterland of villages and countryside with its factories, shopping facilities, schools and leisure amenities. Dereham is situated on the A47 road, about 15 miles west of the city of Norwich and 25 miles east of King's Lynn.

Premises

Mattishall News benefits from a large sales and display area, which is well fitted to suit the trade. The business is also fitted with CCTV, security lighting to the exterior and a burglar alarm.

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