Leasehold Option: £35,000 + SAV
Hilton Smythe is delighted to welcome to the market this well-established and busy newsagent and convenience store business, ideally located in a prime trading position in Coventry.
The business was established in approximately 1960 and has been in our clients careful ownership since 2005. Only now is the business being offered to the market due to our clients desire for a well-deserved retirement. The business operates 6½ days per week and generates a turnover in the region of £174,000 as per 2015 accounts, with a gross profit of approximately 20%.
The turnover is generated from the sale of newspapers and magazines, confectionery, greeting cards, groceries and tobacco products, together with a selection of snacks and drinks.
Our client has built up an enviable reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.
We feel there is scope to increase the turnover by extending the opening hours of the business and possibly offering newspaper rounds to local residents and businesses. A new owner could also increase the grocery lines offered, as well as Paypoint/Payzone facilities or apply for an alcohol licence.
This is an excellent opportunity for a new owner to take this already busy business to the next level; therefore early viewing must come highly recommended to avoid disappointment.
Finham News occupies substantial two-storey premises, ideally located within the city of Coventry in the West Midlands. The property is situated within a parade of complimentary shops and businesses; therefore benefiting from a high volume of footfall and passing trade. The area of the business is surrounded by densely populated residential areas, from which the business derives much of its trade. The business further benefits from free off street parking facilities to the front of the premises.
Coventry is located in the county of West Midlands and until 1974 was part of Warwickshire. The city is the 10th largest in England and the twelfth 12th largest UK city overall. As of 2013, Coventry had a residential population of 329,810.
The area of the business is well-served by the public transport system, with a bus stop directly outside the property. The nearest railway station is approximately 2½ miles away. The area is also well served by the A-roads, with the A45, A46 and A444 all within easy driving distance, which link to the national A-road and motorway networks. Coventry city centre is 3½ miles away and Birmingham is 23 miles away.
Substantial two storey premises in an ideal trading location, briefly comprising:
Ground floor with:
Bright well-illuminated sales and display area.
Newspaper display racking.
Magazine display racking.
Greeting card display racking.
Double glass fronted drink display chiller.
Central display gondola.
Pick & mix sweet display.
Glass top ice cream freezer.
Serve over counter with electronic cash register, Lottery terminal and tobacco gantry to rear.
Small stock room and utility area with washing machine and separate tumble dryer.
WC and wash hand basin.
Small kitchenette stainless steel sink and drainer.
Lounge with laminate flooring and feature fireplace.
Fully fitted kitchen with wall and base units.
Bathroom with over bath shower.
Walk-in storage cupboard.
Rear enclosed garden with raised patio, large garden shed, single garage and new fencing.
We are advised Freehold.
Leasehold option available £35,000 + SAV
The lease length is to be negotiated.
The business operates:
Monday – Saturday: 6:00am – 6.00pm
Sunday: 6:00am – 1.30pm
The business is owner run with 1 x casual staff member.
The business generates a turnover in the region of £174,000 as per 2015 accounts, with a gross profit of approximately 20%.
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