Property Information
Address:
Newcastle Upon Tyne, Tyne And Wear
Price: Property no longer available.
Size: SOA
Primary Category: Businesses For Sale
All Categories:
Businesses For Sale,
Property Ref/Movehut: MH533864
Property Ref/Agent: 13330-newsagents-on-main-road-location
*Please use the agent ref when calling the agent directly.
Property description
Hilton Smythe welcomes to the market Sharmas News. This retail store has been owned by our client for around 30 years. The owner is now looking to sell the store, due to the desire to take a well-deserved retirement.
The business runs as a newsagents selling a variety of products, this includes greetings cards, magazines, newspapers, confectionery, household products and cigarettes. The store has proven to be very popular with the local residents.
The business generates a turnover in the region of 105,000 per annum, with a gross profit of 21%. The weekly newssheet figure is around 400. This is a healthy turnover that could benefit from some extra services. The purchaser should look to offer the National Lottery and Payzone, these are popular services that will allow for an extra income.
The newsagents sell newspapers but does not currently offer a newspaper delivery round. This could be something the purchaser looks into in order to boost the turnover figure further.
Above the shop is a large self-contained flat. There are three bedrooms set across three floors. This accommodation could be used by the purchaser. However, if this space is not required the owner could look to rent the flat for a monthly income. There is also the potential to expand the shop. On the ground floor is the accommodations lounge and bathroom, this could be moved to the first floor. An expansion in retail space would allow for more shelving, therefore more products to display.
A leasehold option is available for 25,000 + SAV, lease to be negotiated.
This is a fantastic opportunity for a husband and wife team. 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 Freehold opportunity.
A leasehold option is available for 25,000 + SAV, lease to be negotiated.HOURSThe business opening hours: -
Monday - Saturday: 6am - 5:30pm
Sunday: 6am - 12:30pmSTAFFThe business is run and managed by our client.FINANCIAL PROFILEThe business generates a turnover in the region of 105,000 per annum.
Gross profit 21%
Newsheet figure around 400 per week.
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