Sold

Large Newsagents & Post Office In Great Location

Peterborough, Cambridgeshire

£129,950 +SAV

Ref: 12299 G

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Description

Hilton Smythe is delighted to welcome to the market Hitchborns Stores. The business was originally established in 1946 and was taken over by our client many years ago. The owner is now looking to sell the business due to the desire to focus on other business interests. The business is run as a post office, newsagents and a Premier convenience store. The store is open 7 days a week and provides its services to the densely populated community. The business sees a generous amount of repeat loyal trade from the locals. This store is unrivalled in this location and is highly profitable. We are advised the current turnover for the business is an advised £420,000 per annum with a gross profit of 22%. This is a healthy income but we feel this could be increased. The post office side of the business was only very recently set up. This arm of the business should be something the purchaser focuses on. Over the last year we believe the Lottery and Post office has generated an extra turnover of £36,000. This is fantastic but could be boosted with the help of a motivated new owner. The business is being run to an exceptional standard by our client and we feel this would be a great opportunity for a husband and wife team with experience in the trade. This is a large already thriving business that could benefit from a loyalty scheme which should boost repeat trade. We feel this is a great opportunity for any purchaser looking for this type of business. Hilton Smythe highly advise early viewing to avoid disappointment.

Tenure

Leasehold

We are advised the business is Leasehold.Original lease length: 3 yearsWe are advised the lease ends in June 2016. The lease will be renewed. Rent: £8,750 per annum

Hours

The business is open- Monday - Saturday: 6:30am – 8pmSunday: 7am – 4pm

Staff

The business is run and managed by our client with the help of 5 full time and 3 newspaper delivery members of staff.

Financial Profile

The business generates a turnover in the region of £420,000 per annum.With a gross profit of around 22% Post office salary and Lottery turnover £36,000 per annum.

Location

Hitchborns Stores is located on a retail parade in Peterborough, Cambridgeshire. The store is situated on a housing estate from which the business receives much of its trade. The business is set on a retail parade of few stores which includes a fish and chip shop and a gift store. Around the corner are several more retail premises. This area is just a short 10 minutes drive from Peterborough centre. The town is easy to get to using the great road links and the public transport. There is a bus stop located around the corner from the premise which has regular daily routes. The store is on a main cut through that heads into the town centre. The A15 and the A47 which connect to the main motorway networks; are just a short drive away.

Premises

The business boasts a large premise which has the post office and Premier branding. This is a large ground floor store that has a generous sized retail space. The main sales area is large with perimeter shelving and central shelves. The post office counter is to the rear and is clearly signed. There is a separate counter on entrance for the shop. This has display shelving across the front. Equipment includes-Central display unitsPerimeter racking and shelvingNewspaper and magazine racksGreeting card display units2 x Open chiller unitsTriple Door tall chillerDouble door tall chillerSingle door tall chiller3 Tier ice cream freezerGlass top chest freezerShop counterHot pie warmer2 x Epos tillsLottery terminalCigarette gantry2 Open post office desksFortress counterCash terminal To the rear is a stock room which is fully shelved. This is a great sized room. There is also a w/c kitchen area with a fridge and freezer. To the back of the premise is a lock-up garage which holds stock. There is a chest freezer and a tall fridge in this area. The premise is secured by a CCTV system with 13 cameras around. There is also a monitored alarm system.

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