Hilton Smythe is delighted to welcome to the market this well-established and busy Newsagent business, which is ideally located in Lincoln, Lincolnshire.
The business was originally established in 1970 and has been in our client’s careful ownership since 1998. Only now is the business being offered to the market due to our client’s desire for a well-deserved retirement. The business currently operates 6½ days per week and generates a turnover in the region of £288,400 per annum, with a gross profit of approximately 20%.
Our client offers a variety of goods including newspapers and magazines, greeting cards, confectionery, soft drinks, ice cream and tobacco products. Our client also offers 8 newspaper delivery rounds within the area and has accounts with Lincoln Prison, local hotels and care homes. The property boasts 32 sq. metres of floor space, is very well maintained and very well fitted out to suit the trade. The property was fully re-fitted 7 years ago.
The business has built up an excellent opportunity 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 the turnover could be increased by extending the opening hours. The business is currently manager run and a new hands-on owner would reduce staffing costs. A new owner could also embark on a modest marketing campaign to promote the goods and services offered.
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already busy business to the next level; therefore, early viewing must come highly recommended to avoid disappointment.
Wragby Road News occupies substantial ground floor premises, ideally located within the city of Lincoln, Lincolnshire. The business is surrounded by many commercial properties and densely populated residential areas, from which the business derives much of its trade. The newsagent’s benefits from a very high volume of footfall and passing trade, as well as good car parking facilities to the front of the premises and public car parks within the area.
Lincoln is a cathedral city and the county town of Lincolnshire. According to the 2011 census, the city had a residential population of 130,200. The city is a popular tourist destination with numerous historic buildings including the cathedral, the castle and the Medieval Bishop’s Palace. Other attractions include thee Museum of Lincolnshire Life and the Sir Joseph Banks Conservatory at the Lawn.
The area of the business is very well served by the public transport system, with several bus stops within easy walking distance of the property. Lincoln railway station is approximately 2 miles away in the city centre. The area is also well served by the A-roads, with the business being located on the A15, which links to the national A-road and motorway networks.
Substantial ground floor premises in an ideal trading location, briefly comprising:
Newspaper and magazine display racking.
Ice cream freezer.
Double door chiller unit.
Single door chiller unit.
3 x greeting card display stands with drawers.
Serve over counter with EPOS cash register.
Lottery scratch card stand.
Hot drinks machine.
Desk & chair.
On-street parking to front.
We are advised Leasehold:
Original lease length: 5 years
Next review: February 2017
The business is open:
Monday – Saturday 5.00am – 4.00pm
Sunday: 5.00am – 12.00pm
The business is currently manager run with 3 x part time staff members and 8 x delivery persons.
The business generates a turnover in the region of £288,400 per annum, with a gross profit of approximately 20%.
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