Newsagent In Affluent Hampstead Location With Good Potential For Sale

Business description

LOCATION: Situated in a good trading location in an affluent residential part of North London.

DESCRIPTION: This is a single fronted newsagent with an outside canopy and roller shutters. Internally there is a suspended ceiling and carpeted flooring. The shop floor is 28’6 x 13’6”. The counter display unit is at the rear. There is a separate storage room/kitchen (approx 200 sq ft) at the rear. In addition there are stairs which lead down to a larger storage room in the basement (approx 800 sq ft). There is also a toilet in the basement and a rear exit. Generally the premises could do with some updating to suit the taste of the new purchaser.

EQUIPMENT: The business is fully equipped for the trade including 2 chest freezers, 2 drinks fridges (double plus single), copier, 6 greeting card racks, cigarette gantry, digital till and various shelving. There is also an a/c unit, fan heater and monitored burglar alarm.

BUSINESS: This is a very well established family run business which has been in the current ownership for 30 years. Shop takings are currently £6,000 p.w. plus lottery with potential for more through introducing off-licence lines, sandwiches, Oyster machine, mobile top-ups, Western Union, etc.

HOURS: 7.30am – 7.30 pm 7 days. Excellent potential to increase takings by closing later in the evenings.

ACCOMM: There is no residential accommodation however there is potential to convert the basement into a flat subject to planning permission.

TENURE: A new lease commenced for a term of 15 years with the rent being £27,000 per annum with reviews every 3 years.

RATES: Business rates payable are approx £11,000 p.a.

PRICE: £109,950 + SAV (stock is approx £22,500). Freehold also may be available at the right offer price.

Property information

Property:

Leasehold

Lease terms:

A new lease commenced for a term of 15 years with the rent being £27,000 per annum with reviews every 3 years.

Leasehold rent:

£27,000 per annum

Living accommodation:

There is no residential accommodation however there is potential to convert the basement into a flat subject to planning permission.

Location:

Situated in a good trading location in an affluent residential part of North London.

Other information

Expansion potential:

This is a very well established family run business which has been in the current ownership for 30 years. Shop takings are currently £6,000 p.w. with potential for more through introducing off-licence lines, sandwiches, Oyster machine, lottery, mobile top-ups, Western Union, etc.

Support & training:

Full handover support and training included in asking price.

Reasons for selling:

Genuine retirement after 30 years.

Trading hours:

7.30am – 7.30 pm 7 days. Excellent potential to increase takings by closing later in the evenings.

Inventory / Stock value:

£22,500

Related documents:

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• Compulsory Registration Form to Return Please