Newsagency General Store Lottery Affluent Mid Sussex Village For Sale

Business description

This is a long established newsagency and general store which has been in the hands of our client since 1995. She is now selling the business to retire. Trade centres around the retailing of newspapers and magazines together with ice cream, soft drinks, counterline confectionery, wines, beers and spirits, greetings cards and a range of grocery items. The wholesale newsbill averages £1,500 per week with six morning rounds and one country round. There are about 250 account customers and weekly charges to customers cover the cost of delivery staff wages. There is a Premises Licence for the sale of beers, wines and spirits.

Certified accounts for the year ended 31 May 2009 confirm that sales reached £307,517, exclusive of VAT, and that a gross profit of £94,515 was achieved. Additionally there were commissions from Pay Point and the Lottery which amounted to £8,859 to give a total gross profit of £103,374. There was a substantial and very rewarding net profit of £58,467 for a single proprietor with staff assistance. A husband and wife team or a family could save on current staff wages to further boost the profit, subject to any employment protection that the staff may enjoy.

Property information

Property:

Leasehold

Lease terms:

A 5 year lease from 17 May 2007 at a basic rent of £5,160 per annum until renewal. NB Tenants can expect to renew the lease under the terms of Part II of the 1954 Landlord and Tenant Act, upon expiry.

Leasehold rent:

£5,160 per annum

Living accommodation:

Currently our client rents a flat above the shop which is held on an Assured Shorthold tenancy at a rent of £750 per calendar month. It comprises:- 3 BEDROOMS : LOUNGE/DINING ROOM : KITCHEN BATHROOM WITH WC : SEPARATE WC There are night storage heaters to a number of the rooms. AGENTS NOTE The landlord has indicated that the flat above the shop will be available to rent by an approved tenant, at a rent to be agreed.

Location:

The shop is situated in a delightful mid Sussex village. It is a purpose built unit surrounded by an affluent residential area and benefits from free car parking directly outside.

Premises details:

Shop about 487 sq ft (45.2 sq m) with an internal width of about 26’9” (8.1m). There is an aluminium framed plate glass window and matching door, carpet tiles to floor and fluorescent strip lighting. The whole is comprehensively fitted and has a range of adjustable wall shelving and gondola unit. There is a counter with Geller EX-300 electronic cash register, on-line lottery terminal (the property of Camelot), digital scales and cigarettes gantry (on free loan). Other equipment includes 2 upright drinks chiller cabinets, ATB cash dispenser (on loan), Toshiba copier, 2 security cameras and monitor, Pepsi and Coca Cola cool drinks cabinets (on free loan), Mondial upright drinks cabinet, double chiller cabinet, four tier range of newspaper and magazine racking, Elcold double glass topped freezer, Walls ice cream freezer (on free loan). Air conditioning unit.

Stockroom about 15’6” x 5’3” (4.7m x 1.6m). Range of wooden racking.
Staff WC. Low level WC suite, wash hand basin and electric water heater.

Other information

Reasons for selling:

Retirement sale.

Trading hours:

6.00 am to 1.00 pm and 2.00 pm to 7.00 pm Monday, Tuesday, Thursday and Friday.
6.00 am to 1.00 pm and 2.00 pm to 7.30 pm Wednesday.
6.00 am to 7.30 pm Saturday.
6.00 am to 1.00 pm Sunday.

Inventory / Stock value:

£17,500