Advert Details

Advert Ref: 10569

Newsagents Lotto Store with Four Bedroom Accommodation For Sale

Details: Asking price:£115,000; Sales revenue:£413,880; Net profit:£75,000; Fixtures value:Undisclosed; Inventory value:Undisclosed

Business description: Newsagents/Lotto Store with some convenience foods and payzone paypoint ATM machine and West Midlands travel bus passes. Sales average £8,500 per week with a 22% gross profit yield. Weekly newsbill at cost £1,550 having 5 morning rounds 5 evening and 5 on Sundays. Additional income from Lotto commission averaging £200 per week and approximately £135 per week from the others. The latest accounts show gross profits of £108,949 and a net profit of over £70,000. The spacious property has 4 good sized bedrooms and is secured on a lease with a rent of £11,600 per annum. Hours 5.30am to 7.30pm Monday to Saturday and 5.30am to 3.00pm Sunday. The business is situated in a delightful residential location and is worthy of your immediate inspection.

General information: Years established:over 50 years; Employees: 2 owners plus 2 part time staff; Trading hours: 5.30am to 7.30pm Monday to Saturday and 5.30am to 3.00pm Sunday; Property:Leasehold; Lease terms:The property is secured on a lease under the terms of the Landlord & Tenant act subject to 3 yearly rent reviews and with a rent of £11,600 per annum.; Living accomodation:Super spacious living accommodation with 4 good sized bedrooms living room fitted kitchen bathroom separate wc with gas central heating throughout; Location:Superbly situated in a good residential suburb of Birmingham; Expansion potential:The property has a premise license to sell wines and spirits which it does not use at present; Support & training:Tuition will be given to any new owner; Reasons for selling:semi retirement sale children now grown up; Financing available?Finance available through Hurdley & Co 01564 739797