Long Established Newsagents & Convenience store

Description

Hilton Smythe welcomes to the market Smiths News. The business has been operated by the current vendor for over 10 years and which due to retirement this rare and exciting business opportunity has now become available. This long-established business offers a popular range of services and produce to serve the main residential area, the surrounding communities as well as the busy passing trade. The store is fully licensed from 6am and stocks a range of convenience store essentials including:• Tobacco• Beers• Wines• Spirits • Frozen produce• Soft drinks• Confectionery• Newspapers• Magazines• Gift cards• Home essentials.The site operates 7 x Newspaper rounds, Paypoint service and National Lottery, all helping to generate a healthy footfall. The site offers an excellent opportunity for a new operator to take this long-established business to the next level. The site is being offered to the market as a freehold purchase with the shop having been extended and improved over the years creating very comfortable living accommodation with the first floor having the potential subject to local consents to be let out as a separate dwelling, the site sits within a large plot with ample parking to the side and a detached double garage to the rear creating more trading space opportunities for the new operator. The site would benefit from increasing the opening hours as well as tweaking the current range of goods to capture a wider market, an online presence and a home delivery service. The Shop is in a busy location and the surrounding areas very popular and sought-after, so the business has the potential to grow further generating new income streams as well as increasing historical sales, a great opportunity.

Tenure

Freehold/Leasehold

We are advised the business is being sold as a Freehold opportunity with a guide price of £225,000.Leasehold option available with a guide price of £39,999.A new Lease is to be agreed.We are advised an annual rent of £7,000.

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Hours

The opening hours are currently:Monday to Friday 5.00 am to 5.30 pmSaturday 5.00 am to 3.00 pmSunday 5.00 am to 12.30 pm

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Staff

The business is run and managed by the current vendor plus 2 x part time staff

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Financial Profile

We are advised the business is currently turning over in the region of £290.000 per annumThe rateable value of the premises is £3,400There are currently no rates payable on the business