Popular High Street Newsagents in Southsea

Price:

Leasehold - £24,950

Turnover:

Seller Ref:

2468

Location:

Hampshire , Portsmouth, Southsea

Business Type:

Retail businesses

See Other:

Newsagents for sale in Hampshire
Retail businesses for sale in Hampshire

Description:

THE BUSINESS:

Preferred Commercial is delighted to offer for sale this popular high street newsagents, which was established in 1910 and which has been in our clients' careful hands since 1995. The business is only now being placed on the market due to our clients' wish to retire. Hill's Newsagents generates a turnover in the region of £260,000 per annum with a gross profit of 20% derived from the sale of newspapers and magazines, confectionery and tobacco, along with greetings cards, frozen foods and household goods. There is scope for a new owner to increase turnover by perhaps, offering newspaper deliveries and applying for PayPoint and Lotto terminals. There is also scope to extend the opening hours to take advantage of the wealth of people who frequent the town in the evenings, such as theatre goers. We feel this represents an ideal opportunity to acquire a popular town centre newsagents, which still offers scope for further growth. Early viewing must come highly recommended.

Location Details:

Hill's Newsagents is ideally located on a very busy shopping street in the Southsea area of Portsmouth, Hampshire. The business is surrounded by a good mixture of independent and national retailers, and is close to all the local amenities, such as the theatre. The newsagents benefits from a high footfall and much passing trade. Southsea boasts a large resident community which is boosted by the large number of tourists that flock to the seaside resort's many attractions. The business lies just 1.5 miles from the centre of Portsmouth and is easily accessed via the M27, less than 5 miles away.

Lease Terms:

Leasehold Original length:10 years Remaining: 2 years Review:every 3 years Rent:£125 per week

Trading Hours:

Mon - Fri:5.00am - 6.00pm Sat:5.00am - 5.00pm Sun:6.00am - 12.00pm

Accommodation:

Ground floor lock-up retails premises situated in the heart of Southsea. Briefly comprising: Ground Floor • Attractive display window • Main sales and display area fitted to suit trade with magazine and newspaper racks, long retail counter with cigarette gantry behind, cash register, large greetings card display, storage units behind counter for stock.