Newsagents for sale in Brierley Hill

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Adam Warren (Jan 2017)
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Leasehold Price: £59,995 Price Reduced Turnover: £520,000
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Business Description
Business
Hilton Smythe welcomes to the market Kings News trading as Costcutter.

There has been a convenience store on this site since the 1960’s and the current owner has run it successfully and lucratively for the last ten years. The business is now being sold albeit reluctantly only so that the owner can pursue his dream of emigrating to Canada.

Kings News is a busy and well stocked convenience store offering a varied product range including;

• Newspapers and Magazines
• Tobacco and vaping products
• Confectionery
• General groceries
• Stationery
• Cold drinks
• Crisps and snacks
• Beers wines and spirits
• Bread and cakes
• Dairy products.

Additionally, the business has a PayZone terminal taking approximately £1,600 per week, a healthy Lotto turnover of circa £4,500 per week and a weekly news bill of roughly £1,100.

The business has a considerable 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. Advertising and marketing campaign, perhaps a leaflet drop locally.
2. Maximise the use of social media
3. Extend the opening hours, currently closed on Sundays
4. Introduce a range of frozen food
5. Consider introducing PayPoint.
6. Repaint the external sign.

Hilton Smythe highly advise early viewing. This business is likely to attract considerable interest.

Location
Kings News trading as Costcutter is located in Brierley Hill in the West Midlands.

Brierley Hill is a town and electoral ward of the Dudley Metropolitan Borough and is situated approximately 2.5 miles south of central Dudley and 2 miles north of Stourbridge. It has a population of roughly 14,000.

Brierley Hill is situated along the main A461 road between Stourbridge and Dudley with other roads providing connections to neighbouring locations. It is also served by numerous bus services with a bus station situated at the Merry Hill Shopping Centre and several bus stops along the main High Street close to the business premises.

Kings News trading as Costcutter is ideally and prominently situated in the busy and vibrant Brierley Hill, High Street Shopping. This benefits from really high levels of footfall and passing trade. The business sits alongside other complimentary retail businesses with many High Street names as well as other independents.

The business is nicely presented and maintained with clear, visible signage. There is free on street parking opposite the business and there is a free shoppers car park behind the police station which is a couple of minutes walk away. There is also an Asda supermarket car park behind the business.

Premises
Kings News trading as Costcutter occupies the ground floor of a mid-terraced retail unit and is deceptively spacious and briefly comprises;

Shop
Generously proportioned with windows and glazed double doors to front creating a light airy and inviting interior, tiled floor, suspended ceiling with concealed lighting, long counter with till, PayZone and Lotto terminals and generous wrapping area. There is a cigarette gantry and spirit shelving behind, perimeter shelving with central shelving gondolas, triple glass fronted drinks chiller, open dairy chiller, double glass fronted drinks chiller, long open beer and cider chiller, Perspex newspaper stand, magazine racking, open bread shelving, wines and spirits shelving, stationery section with hooks for bagged items, ample floor space for special bulk buys.

Stockroom
Immediately to the rear of the shop is a generous stockroom with tiled floor and suspended ceiling, shelving and glass fronted chiller. This room was originally part of the shop and could be easily reinstated by a new owner if required.

Stockroom 2
Generous stockroom with high ceiling, kitchen area with stainless steel sink and drainer and cupboard beneath, Triton water heater, glass fronted chiller.

Office
A good-sized office with plenty of space for desk, chair and filing cabinets etc. Built in cupboards.

Stockroom 3
Another generous stockroom with shelving and floor storage space.

WCs
There are two separate WCs, each with toilet and hand wash basin.

Rear Lobby
With double doors to car park at rear.

Tenure
We are advised that Kings News trading as Costcutter is being sold as a leasehold business opportunity, the existing 15 year lease has approximately 10 years remaining and the rent is £18,000 per annum which is very reasonable given the size of the premises. 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 rates currently payable are approximately £5000 per annum but these are subject to a review and it is hoped that they will be reduced significantly.

Hours
Monday to Saturday 6.00am – 8.00pm

Sundays closed.

Staff
The business is run and managed by our client with the help of one full time and one part time member of staff.

Financial Profile
Kings News trading as Costcutter generates an advised current turnover of circa £520,000 per annum.

Tenure: Leasehold

Listed by: Hilton Smythe

Find out more about this business opportunity.

 
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B04216
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