Property Information
Address:
Peterborough, Cambridgeshire
Price: Property no longer available.
Size: SOA
Primary Category: Businesses For Sale
All Categories:
Businesses For Sale,
Property Ref/Movehut: MH511990
Property Ref/Agent: 12299-large-newsagents-and-amp-post-office-in-great-location
*Please use the agent ref when calling the agent directly.
Property description
Hilton Smythe is delighted to welcome to the market Hitchborns Stores. The business was originally established in 1946 and was taken over by our client many years ago. The owner is now looking to sell the business due to the desire to focus on other business interests.
The business is run as a post office, newsagents and a Premier convenience store. The store is open 7 days a week and provides its services to the densely populated community. The business sees a generous amount of repeat loyal trade from the locals. This store is unrivalled in this location and is highly profitable.
We are advised the current turnover for the business is an advised 420,000 per annum with a gross profit of 22%. This is a healthy income but we feel this could be increased. The post office side of the business was only very recently set up. This arm of the business should be something the purchaser focuses on. Over the last year we believe the Lottery and Post office has generated an extra turnover of 36,000. This is fantastic but could be boosted with the help of a motivated new owner.
The business is being run to an exceptional standard by our client and we feel this would be a great opportunity for a husband and wife team with experience in the trade. This is a large already thriving business that could benefit from a loyalty scheme which should boost repeat trade.
We feel this is a great opportunity for any purchaser looking for this type of business. Hilton Smythe highly advise early viewing to avoid disappointment.TENUREWe are advised the business is Leasehold.
Original lease length: 3 years
We are advised the lease ends in June 2016. The lease will be renewed.
Rent: 8,750
per annumHOURSThe business is open-
Monday - Saturday: 6:30am - 8pm
Sunday: 7am - 4pmSTAFFThe business is run and managed by our client with the help of 5 full time and 3 newspaper delivery members of staff.FINANCIAL PROFILEThe business generates a turnover in the region of 420,000 per annum.
With a gross profit of around 22%
Post office salary and Lottery turnover 36,000 per annum.
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