Profitable Old Established News, Confectionery, Tobacco, Greeting Cards, Stationery, Ices, Soft Drinks For Sale

Business description

SPACIOUS DOUBLE FRONTED SALES SHOP approx. 500 sq. ft. sales area, fluorescent lighting, carpeted floor. Air Conditioned. Well equipped including counter, electronic cash register, 2 ice cream deep freezes (owned), 1 small glass fronted display fridge (owned), 1 upright display fridge (on loan from Coca Cola), CCTV system with 3 cameras, 1 monitor plus digital recording.

Stockroom at rear with racking
Staff Cloakroom with w.c. and wash hand basin
Kitchen area

Property information

Property:

Leasehold

Lease terms:

The shop premises are held on a new 20 years renewable lease from a private landlord from March, 2009 at a rental of £10,000 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years.

Uniform Business Rates: £2,040 p.a. approx. (after small business relief)

THE BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 5 YEARS AND IS NOW SOLELY OFFERED FOR SALE DUE TO RETIREMENT.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Living accommodation:

Included in the sale is the EXCELLENT SELF CONTAINED MAISONETTE over, which we understand is leasehold property having approximately 75 years unexpired AT A GROUND RENT OF ONLY £15.00 P.A. FOR THE NEXT 8 YEARS, INCREASING AT THAT TIME TO ONLY ONLY £17.00

Location:

Situated in a parade, residential area, EAST SUSSEX

Other information

Expansion potential:

WE ARE INFORMED the turnover averages £7,500/£8,000 p.w. in our opinion offering tremendous potential for further increase in the right hands. Wholesale newsbill £2,200 p.w. Gross profit 16% approx. There is a Sub Post Office section within the shop that is let to the sub post master on a 6 monthly agreement. The owner is receiving a rental income currently of £5,196 p.a. We are further advised that the sales in respect of the newsagents year ending 31st March, 2007 showed £378,459 (including lottery commission of £6,953 and rent receiveable in respect of the sub post office section of £5,196). Gross profit £78,394 (before wages and salaries of £17,971) and net profit before finance charges and depreciation of £40,262.

Reasons for selling:

TO INCLUDE THE NEW LEASE IN RESPECT OF THE SHOP PREMISES, GOODWILL, FIXTURES & FITTINGS plus VALUABLE LEASEHOLD MAISONETTE £214,950 plus STOCK AT VALUATION SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT

Trading hours:

Monday - Saturday inclusive - 6 a.m.- 6 p.m.
With the exception of Wednesday & Saturday when the business remains open until 7.30 p.m. for the sale of on line national lottery tickets.
Sunday opening - 6 a.m. - 1 p.m.
It will be appreciated upon inspection that there is potential for additional opening hours, if desired.

Financing available:

SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.