Newsagents for sale in Taunton

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Mr & Mrs Campbell (Jan 2015)
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Freehold Price: £229,950
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Business Description
• IDEALLY LOCATED IN VERY BUSY THOROUGHFARE
• SHORT TERM PARKING AVAILABLE RIGHT OUTSIDE
• RUN BY HUSBAND AND WIFE TEAM + 1 PART-TIMER
• BEAUTIFUL 2 BED FLAT AND DELIGHTFUL GARDEN
• A VERY PROFITABLE AND WELL RUN BUSINESS
• REPRESENTING A COMPELLING LIFESTYLE OPPORTUNITY

LOCATION:
The business and property is located at 36 East Reach, Taunton, TA1 3ES.

In a 10 minute stroll along East Reach you’ll find a large number of independently owned shops catering for everyone’s needs, the very busy Victoria Gate Surgery with a spacious public car park to the rear, as well as three welcoming pubs. There is an active Traders Association and a strong community spirit.

BUSINESS:
Occupying an excellent trading position in a very busy thoroughfare with considerable passing trade and benefiting from short term parking immediately outside, this long established and unusually profitable newsagents with lottery is exceptionally well run by a husband and wife team with the support of one part-timer.

With sales of £5,000 pw (net of Vat) plus Lottery/Instants takings averaging £2,700 pw, the business has 5 delivery rounds (news bill of £1,600pw) and is generating a substantial net profit for the owners before the value of the residential accommodation is taken into account.

The business is not licensed currently but we see no reason why this should not be granted in this location which would suit later opening if desired by new owners seeking to maximise the income generation possibilities which might include the introduction of a parcels agency, Western Union agency, electricity and gas top-ups and ‘pic-n-mix’ display.

A superbly appointed and very spacious 2 bed flat is arranged over the first and second floors and to the rear of the property is a long, delightful, fully enclosed and entirely private garden with large shed and separate walk-in store cupboard.

This represents a compelling lifestyle business opportunity, easy to run and a full internal inspection is strongly recommended.

YEARS ESTABLISHED:
We understand that a newsagents has operated from the site for more than 100 years. The business has been under the current careful ownership since January 1998.

TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £261,414 were reported for the year ended 28 February 2015, which generated a gross profit margin of 16.7% before lottery commission of £8,158, and produced an abridged net profit of £39,939 (15% of sales).

The owners have reduced opening hours to an extent over the last few years which has brought about a marginal reduction in turnover but a concentration upon product mix and pricing aspects has led to improved profitability overall.

The profit quoted excludes rent as the vendors own the freehold of the property and also excludes the value of the residential accommodation. The vendors live off site and have previously let the flat to generate additional income although it is currently vacant and in exceptionally good order throughout and will remain so pending a sale.

REASON FOR SALE:
After more than 17 years in this business the vendors now wish to retire.

STAFF:
The business is run by a husband and wife team with the support of one part-time member of staff (24 hours per week). The staff member has been with them for many years and may choose to retire herself to coincide with the sale.

OPENING HOURS:
Monday to Friday: 5.30am to 4.30pm
Saturday: 5.30am to 4.00pm
Sunday: 5.30am to 12.00 noon

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The business occupies a period terraced property arranged over three floors under a pitched and tiled roof. The tenement to the rear, which is also under a tiled roof, is arranged over two floors incorporating a spacious bathroom at first floor level and a spacious single storey extension to the rear, under a flat roof, is understood to date from the 1970’s.

The shop benefits from a bay window to the front elevation with prominent signage over and a sun canopy above a recessed open porch with tiled floor leads to a mainly glazed wooden front door with internal security bars which opens into:

Retail Shop (27.8 sq. m/300 sq. ft. approx.):

Inner Hallway:

Staff WC

Through Store (3.6m x 3.0m approx.):

Through Hall/Utility Room (3.2m x 1.9m):

Sitting Room/Office (2.8m x 5.0m):

Rear Garden:

Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)

First Floor

The residential accommodation is accessed via a step up to a wooden fire door from the Inner Hallway to the rear of the shop. This door opens into a carpeted staircase which rises with a quarter turn and wooden banister rail with exposed spindles to one side to a half landing. Two steps up to the right give access to a wooden door to:

Bathroom (2.7m max x 3.0m max):

First Floor Landing:

Hallway (3.5m x 1.1m approx.):

Kitchen (3.2m x 3.3m max):

Lounge (3.7m x 4.5m max):

Second Floor

Galleried landing. Carpeted. Attractive arched wooden window to the rear elevation. Archway to:

Hallway (3.5m x 1.1m approx.):

Bedroom 2 (3.3m x 3.3m max):

Bedroom 1 (3.7m x 4.6m max):

The vendors live elsewhere and the flat is currently attractively furnished having been let as such recently. Accordingly, the vendors would be prepared to offer the furniture, fixtures and fittings in the flat as available by separate negotiation.

ENERGY PERFORMANCE CERTIFICATE:
0060-2930-0365-1100-0060.
Tenure: Freehold

Downloadable Documents

Listed by: Adams & Co
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