Hilton Smythe welcomes to the market an exciting opportunity to acquire (on a Leasehold basis) an exceptionally well run and performing, “turn key” newsagents’ business with an excellent reputation.
The business has only now been placed on the open market as it is our clients desire to leave the industry and take a well-earned retirement after many successful years of trading.
Mortali Newsagents has been operating under the careful and meticulous ownership of our client since 1995 and who has grown the business year on year to an impressive level with turnover and profit at consistent levels.
The business offers a wide range of goods:-
• Specialist magazines
• Confectionery goods
• Fresh and filled rolls
• National Lottery
• Parcel collection point
• Newspaper delivery service (300 doors)
• Fancy goods and gifts
• Dedicated gift card area within the well-stocked premises
The business further reports that it has a news bill of around £3000 per week with Lottery sales between £400 to £600 per week.
All this has led to an enviable reputation with many loyal repeat customers within the local area.
There is scope to increase turnover with:-
1. Additional opening hours of the retail side of the business
2. Expanding some of the retail lines currently stocked
3. Possible undertaking of a robust localised marketing campaign to highlight the products and services available
The business trades on its reputation for service and has outstanding future possibilities. It would potentially be an ideal acquisition to some similar sized or larger enterprise looking to increase its position and presence within the industry.
Very rarely do businesses of this calibre come to the open market therefore, early viewing must come highly recommended to avoid disappointmentLocation
Mortali Newsagents is located in a parade of similar size retail units on the busy Charleston Drive within the popular residential area of Menzieshill within the city of Dundee.
The City of Dundee is a coastal city on the Firth of Tay estuary in Eastern Scotland.
Dundee is also known as the City of Discovery and has undergone transformation over the past decade, as major investment continues in the shape of revitalisation of the Waterfront, spearheaded by the V and A Museum, Slessor Gardens and civic amenities including hotels, shops and leisure facilities.
Renowned for its universities and training hospital at Ninewells, Dundee is also renowned for its cutting-edge design technology within the computer games industry among others.
The city is very well serviced in terms of local amenities and transport links to all other parts of the UK via rail, road and with direct flights to London City via Dundee Airport.Premises
The business occupies a well-presented retail premises extending to 89.43 m2 and benefits from premium branding to the exterior.
The main store is fitted to a modern standard and is bright, clean and benefits from large centre display units running almost the full length of the shop, to compliment the perimeter shelving and racking display units and a good selection of fully fitted refrigeration units.
There is a well laid out service counter with cigarette gantry, electronic till payment area and Lottery terminal.
To the rear of the premises there is a staff rest room area and store area.
The business also benefits from a large basement area that contains secure storage along with a fully fitted office area. The premises also benefit from CCTV, security door and alarm system.
The business is well signed and easily visible.Tenure
We are advised that tenure is offered on a Leasehold basis.
10 Year Lease with 7 years remaining.
We are advised the current rent is £1458 per quarter.Hours
Monday to Friday 5:00am to 6:30pm
Saturday and Sunday 5:00am to 6:30pmStaff
The business is currently run by the owner along with 2 part time staff and 16 delivery persons.Financial Profile
The business has reported a turnover in the region of £344,418.