Hilton Smythe is delighted to welcome to the market this well-established and busy newsagent and convenience store in Leicester. The business was established in 1985 and has been in our client`s careful ownership since 2009. Only now is the business being offered to the market due to our client`s desire for a well-deserved retirement. The business operates 6 days a week and generates a turnover in the region of £352,000 per annum, with a gross profit of approximately 20%.
Our client offers a wide variety of items including newspapers/magazines, general convenience items, tobacco products, confectionery and greeting cards, to name a few, as well as being an off licence selling a wide variety of alcoholic beverages. The business also offers newspaper delivery within the area with 42 morning delivery rounds, as well as benefitting from a Lottery terminal and scratch card sales. The business has built up an enviable reputation within the area, which has resulted in a very loyal client base with a high volume of repeat trade.
The property benefits from a large sales and display area, which is well fitted to suit the trade, as well as a four bedroom flat to the first floor, although one of the bedrooms was originally a lounge area, which could be reinstated should a new owner desire. The flat could be used as owner`s accommodation or let out to generate further income.
We feel the turnover could be increased by extending the opening hours of the business. A new owner could also embark on a small marketing campaign to promote the business and the goods and services offered. This is an excellent opportunity for a new owner to take this already thriving and profitable business to the next level; therefore early viewing must come highly recommended to avoid disappointment.
Charlie`s News occupies substantial two-storey premises, ideally located in a prime trading location in the city of Leicester in the East Midlands. The business is located on a very busy road within the city and benefits from a vast amount of footfall and passing trade. The property is surrounded by densely populated residential areas from which the business derives much of its trade. The business further benefits from on-street parking facilities to the front of the premises.
Leicester lies on the River Soar at the edge of the National Forest. In the 2011 census, the population of Leicester unitary authority was 330,000, making it the largest unitary authority in the East Midlands region. Leicester is the tenth largest city in the United Kingdom.
The area of the business is well-served by the public transport system, with several bus stops within easy walking distance of the property. The nearest railway station is approximately 3 miles away. The area is also well served by the A-roads, with the A563 being within easy driving distance of the property, which links to the vast A-road and motorway networks. Leicester City Centre is approximately 3 miles away and Loughborough is 13½ miles away.
Two-storey, double fronted premises in a prime trading location, briefly comprising:
Main sales and display area with:
3 x central display aisles.
Three section open chiller unit.
Three tier ice cream freezer unit.
Two door Coca Cola branded drinks chiller unit.
2 x glass top display chest freezers.
5 x greeting card display units with storage drawers.
Newspaper and magazine display racking.
Serve over counter with two electronic cash registers, Lottery terminal, confectionery display and cigarette gantry behind.
4 x camera CCTV.
Rear office/stockroom with racking, shelving and CCTV monitor.
2 x rear stock rooms with racking and shelving.
First floor with:
2 x double bedrooms (one of which was originally a lounge).
2 x single bedrooms.
Rear yard with street access gate and steps to access flat.
Security shutters to front.
ADT monitored alarm system.
We are advised Leasehold:
Original lease length: 21 years.
Remaining lease length: 16 years.
Review every: 5 years.
Rent: £1,333 per month
The business is open:
Monday – Saturday: 5.00am – 8.00pm
Sunday: 6.00am – 2.30pm
The business is owner run and managed with 2 x full time and 1 x part time staff members.
The business operates 6 days a week and generates a turnover in the region of £352,000 per annum, with a gross profit of approximately 20%.
The advertised turnover and gross profits are estimated figures based upon accounts made up to 6 months.
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