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Newsagents On Main Road Location For Sale

Newcastle Upon Tyne, Tyne and Wear
Asking Price:
£179,999
Turnover:
£105,000
Net Profit:
Available on request

Business
Freehold £179,999 +SAV
Leasehold £19,999 +SAV

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.

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.

Location
Sharmas News is located in Newcastle upon Tyne, Tyne and Wear.

The store is situated within a row of residential properties. There are some independent businesses in the area, this includes a takeaway, barbers, pub, trade store, sandwich shop and a Lidl store. The shop benefits from its main road location and on street parking.

Newcastle upon Tyne city centre is just a short 10-minute drive away from the business. The city has an Intu shopping centre and also boasts several tourist attractions and places of interest. This includes, St James Park, O2 Academy, Centre for Life, Discovery Museum, Great North Museum and Newcastle University.

The A193 on which the business is located runs across to the coast over to Tynemouth and Whitley Bay. There are also several A-roads close by that connect to the national motorway network. As well as great road connections, the area also benefits from generous public transport. There is a bus stop a short walk away and the closest train station is a 5-minute drive away.

Premises
Sharmas News is located in Newcastle upon Tyne, Tyne and Wear.

The store is situated within a row of residential properties. There are some independent businesses in the area, this includes a takeaway, barbers, pub, trade store, sandwich shop and a Lidl store. The shop benefits from its main road location and on street parking.

Newcastle upon Tyne city centre is just a short 10-minute drive away from the business. The city has an Intu shopping centre and also boasts several tourist attractions and places of interest. This includes, St James Park, O2 Academy, Centre for Life, Discovery Museum, Great North Museum and Newcastle University.

The A193 on which the business is located runs across to the coast over to Tynemouth and Whitley Bay. There are also several A-roads close by that connect to the national motorway network. As well as great road connections, the area also benefits from generous public transport. There is a bus stop a short walk away and the closest train station is a 5-minute drive away.

Tenure
We are advised the business is being sold as a Freehold opportunity.

A leasehold option is available for £19,999 + SAV, lease to be negotiated.

Hours
The business opening hours: -

Monday - Saturday: 6am – 5:30pm
Sunday: 6am – 12:30pm

Staff
The business is run and managed by our client.

Financial Profile
The 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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