Hilton Smythe welcomes to the market Singh Newsmarket. Our client took over the store in 2007 and has run the store to a high standard. The owner is now looking to sell due to the desire to focus on other business interests.
The business runs as a convenience store, they offer a variety of confectionary products, household cleaning products, beauty products, newspapers, magazines, alcohol, cards, fresh grocery products and more. There is a Payzone and the store earns an extra income from the sale of newspapers.
The store generates an advised turnover of around £646,000 with a gross profit of 19% as per 2015 accounts. This is a fantastic turnover however it could be increased. The new owner should look to offer the national Lottery. There is also the option of a post office counter. The store is large enough for an extra counter so this could be a possibility.
The business is set in a perfect trading location. The store sees a large amount of repeat trade from the locals that live close by. Another option to boost turnover would be to offer a loyalty scheme, this should increase repeat loyal trade.
This is a bustling store that would make a perfect opportunity for a husband and wife team, looking for a hands on opportunity. Hilton Smythe highly advise early viewing of the well-established convenience store.
Singh Newsmarket is located in Lye, Stourbridge, West Midlands.
The business is situated on a main high street in the town of Lye. The area is filled with a plethora of businesses such as restaurants, takeaways, barbers, hair salons, hardware stores, cafes and more. This centre of town location allows for a heavy amount of footfall daily. To the back of the property is a first come first served staff carpark. There is also a free car park just a 2 minute walk away.
The store is located on the A458 which is a main A-road the runs from Stourbridge over to Birmingham city centre. The road also links up to the M5 motorway. The area also has great public transport. There is a bus stop just a short 2 minute walk up the road. Lye train station is also just a 5 minute walk.
The business boasts a substantial sized property. The store takes up 3 shop fronts. There is a sign above the entrance that runs the whole way across; this is clear to passing trade. There are 3 large windows which allow for a bright retail space.
On entrance you are welcomed by the counter which is on the left. The shop has perimeter shelving and also several isle shelves. These run throughout the store.
Equipment included in the sale is as follows-
Two EPOS tills
Large open fronted fridges
Ice cream freezers
Through to the rear is a large stock room, from here there is also an exit to the rear of the property. There is a carpark at the back which is shared between businesses for staff parking.
We are advised the business is being sold as a leasehold opportunity.
Original lease length: 20 years
Remaining lease length: to be advised
Rent: £70,000 per annum
The business is opening hours-
Monday - Sunday: 8am – 10pm
The business is run and managed by our clients with the help of members of staff.
The business generates a turnover in the region of £646,000.
Gross profit 19% as per 2015 accounts.
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