Newsagents Convenience Business Off Licence In Basildon Essex For Sale

Business description

LOCATION:
Situated on an extremely densely populated housing estate, this Newsagents benefits from a ready made catchment area and this is being reflected in the steadily growing turnover figures.

DESCRIPTION:
This lock-up shop is approached via the pavement area and is entered via a fully glazed door leading directly into the shop. The shop has a fully tiled floor with suspended illuminated ceiling and equipment in the shop is virtually brand new as the business was opened only a year ago. Further fittings will include serving counter with electronic till, cigarette gantry and medicine shelves behind the counter, confectionery stand to the front of the counter. Also housed behind the counter is the stock of spirits. Central gondola, wall shelves, cold drinks fridge, dairy cabinet, deep freeze cabinet, further refrigerated cabinet for beers.

Access to stock room which is fully shelved and with door to rear garden. Separate small kitchen area with stainless steel sink unit, cupboard beneath and wall cupboard. Cloakroom with white low level wc and white wash hand basin.

TURNOVER:
We understand from the Vendors, the current turnover is between £4,500 and £5,000 per week, which includes a news bill of some £300 per week with one news round. We are told the gross profit margin is some 20/25%.

STAFF:
The business is currently run by the husband and wife Vendors only.

HOURS:
The opening hours are currently 6.30 am until 6.30 pm. However, this is not taking any opportunity to progress the Off Licence sales as this particular part of the business is called for after 6.30 pm. We feel the turnover could be considerably increased with longer opening hours.

TENURE:
The premises are held on a very secure Local Authority lease with eight years remaining at a current rental of £4,500 per annum. Rates payable are £880 per annum and this is taking into account the small business rates relief.

PRICE:
We are instructed by the Vendors to offer this growing business for sale at a realistic price of £56,500 to include the benefit of the remainder of the lease, goodwill and nearly new fixtures and fittings.

AGENT’S NOTE:
This business has only been open for one year and our Vendors inform us the business is still growing even though they now, reluctantly, need to sell the business because of a welcome addition to the family. As previously mentioned the business needs to stay open longer at night to take advantage of the Off Licence which in turn would increase sales all round. Excellent lease, very small outgoings, good profit to be earned, must be viewed urgently.

Property information

Property:

Leasehold