For Sale

Successful And Lucrative Business - Viewing A Must

Wolverhampton, West Midlands

£120,000 +SAV

Ref: B04331

Contact sales negotiator

Sarah Moores

01204556309

Email Sarah Moores

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Description

Hilton Smythe welcomes to the market, Village News and Post Office Local.

There has been a Newsagents shop at this site since the early 1960’s during which time it has become the heart of the community.

The current owner has run the business successfully and lucratively for the last 16 years or so and is now selling, albeit reluctantly only due to family commitments and other business interests.

As the name suggests the business is a busy Newsagents cum convenience store which sells;

• Newspapers and Magazines
• Tobacco and vaping products
• Confectionery
• Ice creams
• General groceries
• Greeting cards
• Toys
• Crisps and snacks
• Cold drinks.

Additionally, the business includes a local post office counter with a Post Office Salary/ Commissions of circa £20,000 Per Annum. It also has permission for an off licence.

The Post Office is available subject to completion of Post Office Limited business plan, vetting checks and interview.

The business has a Lotto terminal with takings of approximately £1500 per week and has an impressive news bill of circa £1450 per week.

The business has 5 morning rounds, 7 evening rounds and 8 Sunday rounds.

Village News has an impressively high number of regular customers many of whom are known on a first name basis by the current owner who is a popular and well-respected member of the local community.

Scope to improve

1. Advertising and marketing campaign
2. Maximise the use of social media
3. Extend the opening hours
4. Introduce the sale of beers, wines and spirits.
5. Consider stocking bedding plants and flowers, lots of older residents locally who would find this useful

Reasons to Buy

1. A well-established business with an enviable reputation and many existing customers
2. Option to buy on either a Freehold or leasehold basis
3. Current owner happy to negotiate offer a handover to ensure the continued success
4. Ideal owner managed or husband and wife business.

Hilton Smythe highly advise early viewing to avoid disappointment.

Tenure

Freehold

We are advised that the business is being sold as either a Freehold or Leasehold business opportunity.

If a purchaser prefers the leasehold option, the vendor proposes an initial lease of 12 years at an annual rent of £8,000.

We are advised that the business benefits from being exempt from business rates.

Hours

Post Office Opening Hours

Monday to Friday 6.30 am – 5.30 pm
Saturday 6.30 am – 2.00 pm
Sunday Closed

Newsagents Opening Hours

Monday to Friday 5.30 am – 5.30 pm
Saturday 6.00 am – 4.00 pm
Sunday 6.30 am – 12.00 pm

Staff

The business is run and managed by our client with the help of one part time member of staff.

Financial Profile

Village News generates an advised current turnover of circa £260,000 through the shop and commissions from the Post Office of approximately £20,000 Per Annum.

Location

Village News and Post Office Local is located in Essington in South Staffordshire.

Essington is a large village and civil parish in South Staffordshire, it is considered by the Office for National Statistics to be part of the Wolverhampton urban subdivision and is within the West Midlands Conurbation. Situated near where the M6 motorway joins the M54 motorway at junction 10A. Despite its vicinity to the motorways, it is a fairly quiet village surrounded by fields used for grazing and crops.

Essington has a population of approximately 4000 although this is likely to increase soon as planning permission has been granted for the building of 230 new homes which will increase footfall to the business.

The village has a school and doctors surgery and other shops such as a Ladies hairdresser, barber shop, chemist, florist, green grocers, a new mobility shop and a Public house called the Minerva Inn.

Village News and Post Office Local is situated in a small but busy shopping parade alongside other complimentary retail businesses and as such, benefits from good levels of footfall and passing trade.

The business is nicely presented and maintained with clear visible signage and distinctive livery.

There is free parking immediately outside the premises.

Premises

Please be advised that the business does not include any form of living accommodation. It is a lock up shop only.

Village News and Post Offices occupies the ground floor of a mid-terraced retail property and briefly comprises;

Shop

• Security shutter
• Window and glazed door to front creating a light airy interior
• Wood effect flooring
• Fluorescent lighting
• Cleverly designed to maximise the space available with bespoke counter
• Lotto terminal
• PlayStation
• Generous wrapping area
• Post Office Combi counter
• Post Office Secure Area with counter
• Richoh photocopier
• Glass topped ice cream freezer
• 4 camera CCTV system
• Perspex newspaper display
• Confectionery shelving
• Perimeter shelving
• Twin glass fronted drinks chiller
• Single glass fronted drinks chiller
• Greeting card racking

Staff WC
Close coupled toilet and hand wash basin.

Storeroom
Perimeter shelving and floor storage space.

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