Sold

Newsagents in Historic Tunbridge Wells

Royal Tunbridge Wells, Kent

£49,500 +SAV

Ref: 12594 J

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Description

Offers considered for a quick sale. Hilton Smythe is delighted to introduce to the market The Pantiles News. Established in the 1960’s our clients have been successfully running the business since inception in 2015. This traditional newsagents holds a varied stock including a wide range of wines and champagnes, beers and spirits, with a large gift and souvenir section, confectionery, ices, sandwiches, local pasties and rolls, greeting cards, jack beans 2 cup self-serve coffee serving the local community and high tourist trade. According to the most recent set of accounts Pantiles News generated a fantastic turnover of £372,875 as of the 2015 accounts. The business offers 2 large paper delivery rounds generating a regular income of around £110,000 per annum. The business also benefits from a free ATM and Lottery sales. The newsagents has the advantage of a monopoly trading position, being the only business of this type in the area and we are advised that 130 new 2 bed apartments are been developed across from shop which can only increase the already high footfall in the vicinity. Early viewing of this prime position business is highly recommended, which genuinely comes to the market due to our client’s other business commitments.

Tenure

Leasehold

We are advised leaseholdThe original lease length is 7 yearsAs of 2016, 6 years remain on the leaseReviewed every 5 yearsRent is £16,000 per annum.

Hours

The business opens:- Monday to Saturday 7.30am – 5.30pmSunday 10.00am – 4.00pm

Staff

The business is owner run and managed with the assistance of 2 members of staff.

Financial Profile

According to the most recent set of accounts Pantiles News generated a fantastic turnover of £372,875 as of the 2015 accounts. News sheets generate around £110,000 per annum.The business generates around £1,000 lottery sales.

Location

The business is located in the charming historic town of Royal Tunbridge Wells, Kent. The business is located in the elegant and attractive walkway known as the Pantiles, home to a fantastic array of specialist independent shops, art galleries and eateries ensuring a constant and heavy footfall throughout the day. Royal Tunbridge wells attracts thousands of visitors each year, drawn by the stunning architecture and rich history and abundance of attractions. The area is easily accessible located only 40 miles from central London. The A26 and A21 both serve the area and both the M20 and M25 are around 20 minutes away. The town also hosts a mainline train station and network of bus services run throughout the day.

Premises

Attractive mid parade premise with large front retail terrace. Beautifully presented retail area housing open drinks and food chiller, glass topped ice cream fridge, self-serve coffee machine, glass fronted wine fridge, new wines and beer shelving units, service counter and till, cigarette gantry, free ATM machine, confectionery shelving, slush machine, magazine and newspaper stands and sweet hanging units Rear stockroom with full height wood shelving.Kitchen area and toilet facilities.

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