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Newsagents And Lottery Outlet In Workington For Sale

Workington, Cumbria
Asking Price:
£125,000 Furniture / Fixtures included
Turnover:
£864,000
Net Profit:
Available on request

• High turnover Confectionery, Tobacco, Newsagent, & Lottery outlet
• Turnover in 2016 of £864,000 net
• Well located in Workington town centre
• New lease of property to be granted which includes shop & stockrooms


THE BUSINESS/ OVERVIEW
The Newsagent was established by the current proprietor in Workington town centre over 30 years ago and is only available to purchase as a going concern due to retirement. It benefits from both trade from town centre shoppers, from nearby residential areas and Bingo Hall and Sports Centre to the rear of the shop, opening 7 days a week between 5.00am and 7.30pm. The main areas of sales are Confectionery, Tobacco, Newspapers, Magazines plus National Lottery, Paypoint and Payzone services. Weekly newspaper bill is in excess of £2,000 for counter sales only. Two Lottery machines with sales consistently in the top ten in the UK. Five Paypoint and Two Payzone machines. The business currently operates with 3 full time and 4 part time staff but could be managed differently. The turnover on stock for the year ended 31 July 2016 was £863,797 net of VAT plus commission from Paypoint, Payzone, National Lottery and Cheque Cashing Franchise of £60,192. Full accounts will be made available to bona fide applicants, normally after viewing.

LOCATION
Workington is one of the main commercial centres on the west coast of Cumbria with major steelworks and docks, industrial areas and a busy shopping centre. It lies about 35 miles west of junction 40 of the M6 motorway via the A66 and 30 miles from Carlisle via the A595 and A596. Just a few miles inland from the town is the beautiful Lake District National Park. The area also benefits from the nuclear decommissioning complex at Sellafield and a final decision is pending a new nuclear power plant at Moorside near Whitehaven which will bring substantial investment and employment to the area.

DESCRIPTION
The property comprise a 3 storey brick terrace building.

ACCOMMODATION & FLOOR AREAS
Ground Floor
Sales Area 34.6 sqm (372sqft)
Including shop fittings, shelving , counter
and cold drink display units

First Floor
Stockroom 20.3 sqm (218 sqft)
Kitchenette
WC

Second Floor
Stockroom 14.5 sqm (156 sqft)

All references to areas and dimensions are deemed to be approximate.

SERVICES
We are advised that mains water, electricity and drainage are connected to the property. No warranty is given regarding the working order of any appliances or services referred to in these particulars.

TENURE
A new lease of the property will be granted to the purchaser of the business on terms to be agreed at an initial rent of £12,000 per annum with 3 year rent reviews.

RATES
Description in list: Shop and premises
Rateable Value: £4,500

The property qualifies for 100% Small Business Relief.

FIXTURES & FITTINGS
Included in the sale is an inventory of trade fixtures, fittings, equipment and furnishings. Any items not included in these particulars or the inventory are excluded. Stock will be valued separately and taken on completion.

Property information

Property:

Leasehold

Lease Terms:

New lease.

Leasehold Rent:

£12,000 per annum

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