Newsagents for sale in Coventry

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Adam Warren (Jan 2017)
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Leasehold Price: £54,999 Turnover: £260,000
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Business Description
Business
Hilton Smythe welcomes to the market K&P Newsagents.

There has been a Newsagents at this site since the 1960’s and the current owner has run it successfully and lucratively for the last ten years or so. The business is now being sold, albeit reluctantly and with a heavy heart only due to the owners wish to relocate to Cornwall.

The business as the name suggests sells Newspapers and Magazines as well as;

• Tobacco products
• Confectionery
• Books and paperbacks
• Soft drinks
• Ice creams
• Greeting cards, wrapping paper and gift bags
• Stationery
• General groceries.

Additionally, the business accepts parcels, has a Pay zone terminal (approx. £1000 per week) and is an agent for the Health Lottery and Lotto (circa £1000 per week). The business has a particularly impressive news bill of approximately £2000 and has four morning delivery rounds.

The business has a significant number of regular customers many of whom are known on a first name basis by the current owner who is a popular and well-respected member of the local community.

Scope to Improve

1. Extend the opening hours
2. Consider stocking pet foods and bedding plants and small shrubs.
3. Introduce alcohol sales, could quite easily double the current turnover.
4. Advertising and marketing campaign.

Hilton Smythe highly advise early to avoid disappointment.

Location
K&P Newsagents Located in Binley Woods in the county of Warwickshire.

Binley Woods is a village and civil parish in the Rugby Borough of Warwickshire. The village lies inside the built-up area of Coventry but falls outside the formal city boundaries.

The village is located 5 miles to the east of central Coventry on the A428 road next to the junction with the A46 road.

The village boasts one public house, The Roseycombe.

K&P Newsagents is ideally situated at the start of the villages parade of shops which is a vibrant and well used shopping centre and as such benefits from high levels of footfall and passing trade.

The business sits alongside other complimentary retail businesses such as a Butchers, Hairdressers, Chinese Takeaway and Chemist.

The business is surrounded by densely populated residential housing which is mostly privately owned and highly sought after. The business is nicely presented with clear visible signage and free on street parking immediately outside as well as free carpark to the side.

Premises
The business occupies two floors of an end terraced retail unit with accommodation above and briefly comprises.

Shop

Windows and glazed door to front creating a light and airy interior, fluorescent lighting, tiled floor, Premier shelving and central shelving gondolas, Perspex newspaper stand, magazine racking, greeting card shelving with drawers beneath, wrapping paper dispenser and hanging area for bagged goods, lotto ticket stand, glass fronted drinks chiller, double glass fronted drinks chiller, security mirrors, wheeled newspaper stand with Perspex shelves, stationery section, sweet dispenser with 24 individual drawers, confectionery shelving, glass topped ice cream freezer, revolving card carousel, bespoke counter with till, Pay point and Lotto terminal, generous wrapping area, cigarette gantry behind.

Stockroom

To the rear of the shop is generous stock Room with perimeter shelving and ample floor storage space and a kitchenette and WC.

First Floor

To the first floor is a good sized 2 bedroom flat with kitchen, bathroom and living room. The flat has a separate entrance and is currently rented out achieving an annual rent of £4800.

Tenure
We are advised that K&P Newsagents is being sold as a leasehold business opportunity.

The current lease is arranged on a monthly rolling basis and the rent is an extremely reasonable £13,000 per annum which includes the living accommodation above. We are further advised that the landlord would be happy to negotiate a mutually acceptable lease with a new owner.

We are advised that the business benefits from being exempt from business rates and none were payable at the time of instruction.

Hours
Monday to Friday 6 am Till 6 pm
Saturday 6 am Till 7 pm
Sunday 7 am Till 12.30 afternoon

Staff
The business is run and managed by our client.

Financial Profile
K& P Newsagents generates an advised current turnover of circa £260,000 per annum.

Tenure: Leasehold

Listed by: Hilton Smythe

Find out more about this business opportunity.

 
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B04177
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