Financial Details
Asking price: £510,000
Sales revenue: £143,617
Net profit: Undisclosed
Fixtures value: Undisclosed
Stock value: Undisclosed

  • Photograph of this business for sale

Business Description
Advent Business Sales is pleased to have been instructed to offer to the market this extremely well established newsagents with attached large property freehold.

The newsagents, which was founded over 50 years ago has been owned by the present vendor since 1990 and is only now being offered for sale as he wishes to retire.

Net property income of £32,600 is made as follows:
1. A 6 year lease with 3 years remaining and with 3 yearly reviews on a nail bar at a rent of £7,000 per annum
2. 6 x bedsits currently let at £75.00 per week per bedsit is an annual income of £23,400 Rates and heating etc are paid by the vendor with a net income of circa £19,000 per annum
3. A self contained 3 bed apartment which is currently let at £550 per month or £6,600 per annum exclusive

In addition, should the newsagents be sold leasehold to an interested party, it should command a premium of circa £30,000 with an annual rent of circa £8,000 per annum.

Shop sales are currently circa £3,000 per week, achieved by the owner working part time only. There is tremendous scope to increase the sales further.

The newsagents sells:
• Cigarettes and tobacco
• Newspapers and magazines
• Soft drinks and confectionery
• Household goods
• Stationery & small toys
• Greetings cards and gift wrap
• Ice cream

It also has 4 morning newspaper rounds.

The shop employs 3 part time staff only who currently manage the shop between themselves. This is ideally suited for a working owner or couple.

We have been advised that the vendor has applied for an alcohol license, which should increase turnover considerably.

We are advised that stock at cost is approximately £10,000.
REF: 9481WR

FINANCIAL INFORMATION
We have been advised by the vendor of the following:

Rental income: £32,600 PA
A/T: (Shop): £143,617

Accounts will be made available to interested parties after a viewing has taken place.

Please let us know if you require finance for the purchase of a business.



DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through Advent Business Sales. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967).
General Information
Trading hours:Mon-Sat: 6.00am – 5.30pm Sun: 7.00am – 2.00pm
Property:Freehold
Location:The premises have an excellent location on a busy main arterial road in a densely populated area of Worcestershire.

Parking is free of charge, time restricted in a lay bye in front of the shop in side streets which have no limits.
Premises Details:Mid terraced property with off set entry door from pavement into the main sales area.

Serving counter and till by door with rear cigarette gantry. Centre shelving for general household goods and confectionery. Large selection of greetings cards. Second level with stationery, toys, soft drinks etc.

Rear storeroom, through to lounge area/stores with back kitchen and rear bathroom/wc.

The shop has the added advantage of being alarmed with a 1 camera CCTV system overlooking the till.
Expansion potential:This is clearly a very successful business, it does however, offer excellent scope to increase both sales and profits by: 1. Applying for the National Lottery 2. Opening more hours in the evenings 3. A working owner or couple would save on staff wages 4. Planning permission has been granted to convert and extend the existing bedsits into 4 x 2 bed apartments and 3 x1 bed apartments with rear parking. A guide cost of £160,000 has been obtained from a local reputable builder for the work
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