Hilton Smythe welcomes to the market Mill Street News, a well established newsagents servicing the local community.
Run by the current owner for the last four and half years and sadly offered for sale due to our client moving onto new ventures. The newsagents currently sells; confectionary, soft drinks, tobacco, greeting cards, magazines, newspapers and a small line of grocery essentials. The business benefits from offering a newspaper delivery service in the area.
There is huge potential to increase turnover if the business expands its line of convenience items or applies for the appropriate licence to retail alcohol which will inevitably increase footfall and revenue.
The business also has a payzone, and profits could be increased with the introduction of lottery sales.
The business is located in the market town of Leek, Staffordshire. Situated on the busy A523 Mill Street. The business is sited in the middle of a retail parade of shops, in close proximity to a large residential area.
Mill Street News services a large densely populated residential area and is in close proximity to many local businesses in the area, therefore the business benefits from high passing trade.
Leek is at the foot of the Peak District National Park as is often referred to as the gateway to the Peak District. The town has a regular cattle market bringing visitors to the area and reflecting its role as a centre of local farming.
This double fronted terraced business briefly comprises:-
Ground Floor – retail unit comprising large sales area with display shelving to the perimeter, and large gondola in the centre. To the rear, serving counter with cash register, confectionary display and cigarette kiosk. The serving counters are themselves display cabinets of wood and glass construction.
To the rear, there is a small area leading to a toilet, wash basin and exit to rear yard. To the very back of the premises lies a good sized storage area with shelving. This area is also used as an office.
The retail area has a small chest freezer and stand up chiller owned by the business, with two further drinks chillers on full repairing leases.
The business benefits from good fully visible signage to passing vehicles and customers on foot.
We are advised the business is Leasehold.
The lease has just been renewed with rent at £3,500 per annum.
The business currently operates:-
Monday to Friday 5.30am – 5.00pm
Saturday 6.30am – 1.00pm
Sunday 6.30am – 11.00am
As previously mentioned if the licence is permitted to serve alcohol and the range of convenience items is increased, the business would also benefit from increasing opening hours to further service the local community.
The business is currently owner run and managed with the assistance of one part time member of staff.
The business has a reported turnover of £205,000 with reported gross profit of £35,000.
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