Newsagency In Bexhill-on-Sea East Sussex For Sale

Business description

The business is of a long established nature and has been in our clients’ proprietorship since 1998. They are now selling to retire. The shop sells a range of loose and counterline confectionery, stationery items, greetings cards, pocket money toys, gift wrap, batteries, cigarettes and tobacco, ice cream etc. There are also sales of newspapers and magazines for which the wholesale news bill averages £2,200 per week. There are approximately 19 morning rounds and about 380 account customers. The cost of delivery is covered by charges to customers.

Draft annual accounts for the year ended 30th November 2007 confirm that turnover (excluding VAT) reached £239,603 with £93,276 gross profit being achieved. The net profit reached £36,149 whilst the business was operated by one owner with staff assistance. This figure has been calculated prior to allowance for items of overhead expenditure which do not form part of the ongoing cost base of the business.

AGENTS NOTE: In the parade of shops there is a Tesco Express which also sells newspapers and magazines but the above trading figures have been achieved whilst that shop has been in operation. Also, a post office counter was in the newsagency, but this facility will close on 7th May 2008. The net profit stated above excludes post office income.

Property information

Property:

Leasehold

Lease terms:

A 15 year lease from 13th September 1999 with 3 yearly rent reviews at a current basic rent of £11,500 per annum until review in 2008.

Living accommodation:

The spacious maisonette is arranged on the first and second floors above the shop and has a separate entrance from the street enabling it to be let if required (subject to landlord’s consent). It is arranged as follows:- FIRST FLOOR. Landing. Single panel radiator. Lounge. About 18’3” x 11’9”. Single panel radiator, replacement double glazed uPVC windows. Kitchen. About 11’3” x 12’ extending to about 15’9” in places. There is a deep larder cupboard, double panel radiator, single drainer stainless steel sink unit, work surface with cupboards and drawers beneath, suspended wall cupboards and gas fired boiler. Door to rear. Bedroom 1. About 12’ x 11’9” (including chimney angle). Double panel radiator. SECOND FLOOR. Landing. Double panel radiator, linen cupboard. Bathroom. Some wall tiling, panelled bath, pedestal wash basin, chrome heated towel rail. Separate WC. Low level suite. Bedroom 2. About 13’ x 11’. Single panel radiator, built in cupboard. Eaves Bedroom 3. About 15’9” plus small bay by 9’6” maximum. Single panel radiator, replacement double glazed uPVC windows. Eaves Bedroom 4. About 11’9” x 9’6” plus small bay. Single panel radiator, replacement double glazed uPVC windows. OUTSIDE. Our client currently rents a garage but this is a separate arrangement and does not form part of the disposal.

Location:

The shop is very well situated. It forms part of a local parade of which the anchor trader is a convenience store and is in an affluent residential area with a good catchment. There is car parking directly outside and supporting shops and businesses include a petrol filling station, pharmacy, hair salon etc.

Other information

Reasons for selling:

Retirement sale.

Trading hours:

6.30 am to 5.30 pm Monday to Saturday. 6.00 am to 12.00 noon Sunday.

Inventory / Stock value:

£9,000