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Thriving Community Newsagents/Card Shop For Sale

Sherborne, Dorset
Asking Price:
£175,000
Sales Revenue:
£758,473
Cash Flow:
Available on request

Business
Hilton Smythe welcomes to the market, this very popular thriving community newsagents/card shop in this sought after Dorset town.

The business comes with easily managed well fitted premises, in a great location, offering all you would expect from a busy newsagent and much more, particularly a very lucrative home delivery service with a turnover of around £300,000 per annum covering approximately 450 residential and commercial premises. We believe from the vendors that this could easily be extended further, and the turnover increased dramatically.

The shops main takings come from Newspapers £3k per week, Card sales £2k per week, Tobacco £1.6k per week, Confectionery £1k per week, Stationery £1k per week and Diaries £500 per week.

The present turnover is a very healthy £750k+ (excluding Lottery) which is increasing again this year and still has potential for further improvement to take it to the next level with added products such as helium balloons, decorations and further confectionery lines, together with expanding the home delivery service as previously mentioned, increasing the opening hours, more advertising and a website.

There is an extensive inventory of fixtures and fittings included within the sale and viewing is a must to appreciate the space, quality and potential on offer.

Location
Abbey at No 74 is situated in the centre of Sherborne on a busy shopping street. Sherborne is a market town and civil parish in North West Dorset, in South West England. It is sited on the River Yeo, on the edge of the Blackmore Vale, 6 miles east of Yeovil.

The A30 road, which connects London to Penzance, runs through the town. In the 2011 census the population of Sherborne parish and the two electoral wards was 9,523.

The shop has been run by the current owners for 17 years and they are now looking towards a well-earned retirement.

Premises
An easily managed but very good-sized premises covering approx. 178 sqm. You have the main shop area on the ground floor and then a large basement which comprises

• Office
• WC
• Staff room with further WC
• 3 storage rooms and lockup

The well fitted shop comes with a wide range of equipment to include a range of:
• Shelving
• Racking
• News computer system
• Fuji photo kiosk
• Refrigerated chocolate cabinet
• Ice cream fridge
• Drinks chiller

An internal inspection is very highly recommended to view the complete package on offer.

Tenure
We are advised that the business is being sold as a Leasehold opportunity on a 10-year lease, with 4 years remaining.

The rent payable is approximately £44,000 per annum.

Hours
The business opens:-

Monday to Saturday: 6.00 am to 5.30 pm
Sunday: 6.00 am to 2.00 pm

Staff
The business is currently run by a full-time manager and 7 other part time members of staff.

Financial Profile
The accounting information for the year ended 31st May 2017 shows a great turnover of £758,473 with a gross profit of £267,486 and a very healthy net profit of £76,724, which is improving even further for the current year to May 2018.

According to the VOA website the current rateable value is £37,250, with rates payable of £17,880 per annum.

Property information

Property:

Leasehold

Contact Information

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  1. What will happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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