NEWSAGENTS WITH LOTTERY - Keighley, W Yorks
Price:
Leasehold - £45,000
Location:
West Yorkshire, Keighley
Business Type:
Retail businesses
LOCATION:
The shop is located in the Airedale Shopping Centre in the town of Keighley. Keighley is approximately 11 north-west of Bradford and is a busy town with a population in excess of 50,000 people. The shopping centre is a purpose built retail development with a multi storey car park above and pedestrian area to the front.
BUSINESS:
This trades as a newsagent retailing a range of newspapers, magazines, cigarettes and tobacco with the addition of confectionery, snacks, cold drinks and confectionery gifts.
It is also a Lottery and PayPoint agent.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
These consist of a ground floor lock-up unit which has glazed frontage secured by full width electric shutter. The retail area is well presented. It is equipped with wall mounted magazine display unit, confectionery display shelving, upright cold drinks display chillers, counter, PayPoint and Lottery terminals and wall mounted cigarette gantry. There is storage space to the rear of the retail area.
Note: Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
TENURE:
This is a leasehold opportunity and there is a 15 year lease in place which commenced Sept 2003. Expiry is September 2018 although the lease is within the LTA 1954 and as such renewal rights apply. The current rent payable is £26,500 per year with an additional service charge of approx. £2,000 per year. Please be aware that the landlord will require references to support your application as a tenant and may require a rent deposit of between 3 and 6 months.
RATES:
From information supplied by the owner we understand the rates payable for the year ending April 2012 are £11,042. The rateable value is £22,500.
NOTE:
It is recommended that potential buyers make their own enquiries through the local authority to check whether the rateable value remains correct and whether the rates payable will be the figure quoted above.
TRADE:
Accounts made available show annual sales for the 12 months ending July 2010 were £631,036 at a gross margin of 15%. Commission from Lottery and PayPoint was additional to these figures. These sales generated a net profit of £70,685 before wages were paid.
Please note that if a business is VAT registered, all figures are net of VAT.
HOURS:
Monday to Saturday 7.00am to 5.45pm
STAFF:
The owner oversees the general running of the business and employs three members of staff who work in the shop.
STOCK:
The vendor informs us that the value of the stock is approximately £21,000.
LEGAL FEES:
Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord’s legal costs on a 50/50 basis. If a buyer wishes to negotiate a ‘new’ lease, they will be responsible for all the landlord’s legal costs.
COMMENTS:
1. National Lottery and other agencies
The transfer of a National Lottery agency or any other agency are at the sole discretion of those operators. In some instances a transfer could incur the payment of a “bond” or deposit to the agency confirmed.
2. Deposits
Successful bidders are to pay a deposit to Adams & Co of £4,000 which will be offset on completion of purchase against the purchase price. This is fully refundable up to the point of the new tenant being approved by the landlord, or in the unlikely event of the vendor withdrawing from the sale.
3. Trade fixtures, fittings and equipment
The business is offered for sale as going concerns to include most of the fixtures, fittings and equipment. However, any scanning system/tills are subject to separate negotiation. Inventories will be made available once a sale has been agreed. In addition to items owned by the vendor and included in the proposed sale, these inventories will also include items that are the property of suppliers and/or manufacturers and proposed purchasers should make their own enquiries with regard to the continuing use of these items.
North Yorkshire
£ 750,000
|
|
Business Services that may be of Interest:
|
|
|