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Prime City Centre Newsagents

Worcester, Worcestershire

£69,999 +SAV

Ref: 12813 H

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Description

Hilton Smythe welcomes to the market Richardson’s. This long established newsagents was originally founded back in 1878 with our client successfully running the business since inception in 1979. Revenue is derived from the sale of newspapers/magazines, confectionery, greeting cards, ices, tobacco and stationery. The business reports a fantastic turnover in the region of £413,000 with a gross profit at 25%. The news-sheets and lottery sales generate a steady and regular weekly income. The newsagents is spacious and well laid out, however we believe we a slight reconfiguration more stock lines could be introduced and a new owner may wish to consider applying for an alcohol license and extend opening hours to generate additional income. Early viewing of this prime location business is highly recommended with the business genuinely coming to the market as our client looks towards a well-deserved retirement.

Tenure

Leasehold

We are advised leasehold on a rolling lease arrangement.Rent is £10,000 per annum

Hours

The business opens: - Monday to Friday 5.30am – 5.30pmSaturday 6.30am – 5.30pmSunday 6.30am – 12 noon

Staff

The business is owner run and managed with the assistance of 3 part time members of staff.

Financial Profile

The business reports a fantastic turnover in the region of £413,000 with a gross profit at 25%

Location

The business is located in the historic City of Worcester. Richardson’s occupies a prime trading location within a thriving retail area of the city, ideally situated at a busy junction and surrounded by a plethora of other retail outlets, eateries, pubs and city centre amenities ensuring a constant and heavy footfall throughout the day. The business is located on the arterial A44 a major commuter road. The business is within a short distance of the University, Golf Club and Hospital. The city attracts thousands of visitors each year drawn by the cities rich architecture with the magnificent cathedral dominating the sky line and many places of interest and attractions. The M5 provides an easy commute to the city.

Premises

Double fronted mid parade premise briefly comprising: - Good size retail area with newspaper/magazine rack, adjustable shelving to perimeter walls, ice freezer, greeting card rack, rotating carousels, central shelving, lotto stand, gift wrap stands and glass serving and display unit. To the rear of the shop is an office with perimeter shelving and power and light.

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