Bookshop In Affluent Norfolk Market Town For Sale

Business description

LOCATION
This bookshop (which is largely unopposed locally) is situated in a thriving market town not far from the City of Norwich which has a rapidly expanding population. There are very good schools and a growing number of professional people living in the area who work at the nearby University, Hospital and the many large organisations in Norwich. The shop is well located in a pedestrian precinct just off the main high street with a large car park a few yards away.

DESCRIPTION
A well managed traditional bookshop (originally established in 1991) selling a good range of fiction, children’s and general interest books. Books are sold from stock and also ordered specially for customers. Some school orders are processed but these are mainly based on contact through specific teachers rather than contracts with schools. A small range of exclusive cards, gift wrap, talking books and classical music CDs are also sold.

THE BUSINESS
The accounts for the year ended 31st January 2011 show a sales turnover of £90,716 (excluding VAT), at a very good gross profit of around £34,500. For a working owner, this should return a basic Operating Net Profit of approximately £17,000. This is the profit available after all the basic expenses have been paid that are common to all operators. It does not, however, take account of personal items, such as bank charges, personal loan interest, owner’s drawings, depreciation etc.

THE PREMISES
The shop occupies the ground floor of a single storey property with a reasonable size loft for storage. The vendor informs us that the shop extends to some 500 sq. feet (46 sq. m) – measurements have not been confirmed owing to the extent of shelves and other shop fittings.
The shop has a large display window fitted with a vertical blind. A glazed door leads into the fully carpeted, well lit sales area. The shop has been well fitted out (by a specialist firm of book shop fitters) with good quality wall mounted and free standing wooden bookshelves. Recent improvements to the layout of the shop have also been made.

To the rear of the shop there is a small service area fitted with an electronic cash register, credit card scanner, bar code reader (connected to the computer system to automatically adjust stock levels), fax and phone, computer system with printer and special book shop software. A door to the rear of this area leads to a small staff kitchen with a further door to a staff toilet. A hatch gives access to the storage area in the loft.

FIXTURES, FITTINGS & EQUIPMENT
Mainly as listed above but with a full inventory to be prepared as part of the sale process and made available to serious potential buyers of the business.

STOCK
To be sold separately at valuation - £20,000 approx.

HOURS
Monday to Saturday - 9 a.m. to 5 p.m.
Early closing on Wednesday – 1 p.m.

STAFF
Owners full time, with casual part time assistance as required.

TENURE
We have not inspected the lease, but the vendor informs us that a new 6 year lease is available. The vendor also informs us that the current rent is £8,250 p.a. and that a small service charge is also payable.

LEGAL FEES
Vendors and purchasers to meet their own contractual costs; the purchaser to meet the landlord’s reasonable costs incurred in assigning the lease.

Property information

Property:

Leasehold

Lease terms:

We have not inspected the lease, but the vendor informs us that a new 6 year lease is available. The vendor also informs us that the current rent is £8,250 p.a. and that a small service charge is also payable.

Leasehold rent:

£8,250 per annum

Location:

This bookshop (which is largely unopposed locally) is situated in a thriving market town not far from the City of Norwich which has a rapidly expanding population. There are very good schools and a growing number of professional people living in the area who work at the nearby University, Hospital and the many large organisations in Norwich. The shop is well located in a pedestrian precinct just off the main high street with a large car park a few yards away.

Premises details:

The shop occupies the ground floor of a single storey property with a reasonable size loft for storage. The vendor informs us that the shop extends to some 500 sq. feet (46 sq. m) – measurements have not been confirmed owing to the extent of shelves and other shop fittings.
The shop has a large display window fitted with a vertical blind. A glazed door leads into the fully carpeted, well lit sales area. The shop has been well fitted out (by a specialist firm of book shop fitters) with good quality wall mounted and free standing wooden bookshelves. Recent improvements to the layout of the shop have also been made.

To the rear of the shop there is a small service area fitted with an electronic cash register, credit card scanner, bar code reader (connected to the computer system to automatically adjust stock levels), fax and phone, computer system with printer and special book shop software. A door to the rear of this area leads to a small staff kitchen with a further door to a staff toilet. A hatch gives access to the storage area in the loft.

Other information

Furniture / Fixtures value:

£10,000 (included in the asking price)

Inventory / Stock value:

£20,000

Related documents:

• 
• Sales details