Property Information
Address:
Walsall, West Midlands
Price: Property no longer available.
Size: SOA
Primary Category: Businesses For Sale
All Categories:
Businesses For Sale,
Property Ref/Movehut: MH528567
Property Ref/Agent: 13238-newsagents-in-town-centre-location
*Please use the agent ref when calling the agent directly.
Property description
Hilton Smythe welcomes to the market Oscars News. This newsagent was originally established in this location in the 1970's. This is a long-established business that has an excellent reputation. Our client is now looking to sell the store, due to the desire to take a well-deserved retirement.
The business runs as a busy newsagent in a high street location. The store sells an excellent variety of stock, such as greetings cards, gift wrap, confectionery, newspapers, magazines, household products and health care products. The store also offers extra services that generate a further income. The lottery, E pay, UPS collections, Payzone, and West Midlands Travel.
The shop currently generates an advised turnover of around 434,000 as of the 2014 accounts, with a gross profit of 18%. This is a good turnover; however, we feel this could be increased by opening later hours. The main road location allows for a heavy amount of footfall which the owner should take full advantage of.
The business has two entrances one on the main high street and the other facing the outdoor market, a Post Office, Wilko's and Iceland. The market is held on Tuesdays, Fridays and Saturdays. This draws in large crowds.
This is a fantastic leasehold opportunity that is not to be missed. Hilton Smythe highly advise early viewing to take in the full potential of the trade.TENUREWe are advised the business is being sold as a Leasehold opportunity.
Original lease length: 20 years
Remaining lease length: 10 years as of 2016.
Rent: 15,000 per annumHOURSThe business opening hours-
Monday - Saturday: 6:30am - 6pm
Sunday: 7:30am - 2pmSTAFFThe business is run and managed by our client, with the help of 1 part time member of staff.FINANCIAL PROFILEThe business generates a turnover in the region of 434,000 as of 2014 accounts.
Gross profit 18%
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