Newsagents for sale in King's Lynn

View the "PRICE FURTHER REDUCED FOR QUICK SALE DUE TO FAMILY ILLNESS- ESTABLISHED NEWSAGENTS AND SPECIALIST TOBACCONIST WITH OFF LICENCE AND NATIONAL LOTTERY IN KINGS LYNN TOWN CENTRE" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

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S Martin (Feb 2013)
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Freehold Price: £159,950 Price Reduced Annual Turnover: £567,000
Request Details
Business Description
Thriving and long established newsagents and specialist tobacconist. Established circa 1960 and under current ownership since 2001.
Only now offered for sale due to retirement. Adjusted net profit of £45,000 to £50,000 achievable.

THE BUSINESS

Profitable business under pinned by 8 news rounds supplying local council, businesses and hotel as well as private homes. Weekly newsbill of around
£1800.00.
As the only specialist tobacconist in the area it is a destination store for the range of loose tobaccos, pipes and general smoking sundries. This section alone generates sales which average approximately £750.00 per week at very high margins.The vast majority of tobaccos are exempt from the new
legislation.
The business benefits from a large and loyal customer base built up over it's many years of trading. It is located in a semi pedestrianized street within the
town centre close to the newly refurbished bus station.
There is scope to extend current opening hours to capture increasing potential trade from local evening and late night establishments.
The vendor will be happy to offer assistance and support during the handover period.
The turnover quoted is the gross figure. The net figure deducting lottery, VAT and payzone but including commissions is £357,000.
The price consists of business at £49,950.00 and freehold at £110,000.
With a rateable value of £9,000 the premises will be exempt from business rates from April 2017.
THE PREMISES

Freehold lock up.
Shop area approximately 550 sq. ft. Rear store room/newspaper sorting area approximately 125 sq. ft. First floor store room approximately 125 sq. ft.
Garage at rear plus car parking.

EQUIPMENT

Included in sale are 1 x 2 metre coca cola fridges, 2 x single door fridges, 1 x ice cream freezer, 1 x nescafe go coffee machine, 2 x tills, payzone and debit card machines, ceiling mounted air conditioning/heater unit, cctv system, fax machine, PC with news delivery software and printer.
There is also a large amount of spare shop shelving.
Trading Hours:


6.30 am to 5 pm Monday to Saturday
7 am to 10.00 am sunday


Number of Employees: 1-5

Tenure: Freehold

Support & Training: Full support will be given during handover period

Location Details:

located in a busy semi pedestrianised street in kings lynn town centre
close to newly refurbished bus station.

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PAX01173269902
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