Newsagents for sale in London

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Long Established Newsagents - London - SW20

London, England

  • Leasehold Price: £34,950  Price Reduced arrow_drop_down
  • Annual Turnover: £146,153
  • Annual Gross Profit: £44,394
  • Annual Net Profit: £24,213
Seller Reference: 6725
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Business Description
 
 
 
 
 
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Seller Reference: 6725
Request Details
Business Description
Annual Accounts 30 June 2018
Annual Turnover £146,153
Gross Profit £44,394
Net Profit £24,213
Low Rent of £130 Per Week
Lottery & Oyster Top Ups Offered
Full Alcohol Licence in Place
Established in 1984
Free Parking - Zone 4
Opportunity to Extend Evening Opening Hours
Potential To Expand Product Lines
Selling Due to Retirement
EPC - C
REF 6725 – Leasehold Newsagents

Blacks Brokers are pleased to bring to the market this leasehold newsagents located in a busy residential area of South West London.

INTRODUCTION

Mike’s News has been trading on Durham Road for over 35 years. Our client established the business here due to the prime trading position within a popular parade close to many residential properties. The business is well known and has a good reputation in the area with a large base of regular customers and excellent online reviews noted on Google. The shop has two large local paper delivery rounds and offers both Oyster services and National Lottery.

LOCATION

The business is positioned on a busy main road within a popular parade of shops. Neighbouring businesses include independent retailers such as an eatery and hair salon. The area is well linked by the A3 with good public transport links and free parking directly outside.

REASON FOR SALE

The business is ideally suited to a hands-on owner-operator but due to our client’s retirement, the business is offered for sale and presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

LEASE

The building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease began in 2009 and expires in 2020 the current rent is at a cost of £130 per week. Our client advises us that the lease is renewable.

BUILDING LAYOUT AND DESIGN

Mike's News operates from the ground floor of a mid terraced property within a parade of shops. The business is well branded with large signage and matching canopy cover above a fully glazed frontage. Inside, the main shop is well presented and fitted with wall shelving and display units. The counter is positioned to the rear with stock room and toilet facilities behind. All areas are presented well.

STAFF

The business is currently operating with our client only in employment on a full time basis.

FINANCIAL DETAILS

Mike's News has traded well for over three decades. We are advised that the business currently has and Annual Turnover £146,153 (Audited 30.06.2018) Gross Profit £44,394 (Audited 30.06.2018), Net Profit £24,213 (Audited 30.06.2018). Full financial details are available upon viewing.

BUSINESS RATES

The business currently benefits from Small Business Rates Relief. Purchasers should enquire with relevant local authorities to confirm the rates payable.

SUMMARY

This leasehold business occupies a superb trading position on a busy main road. There is plenty of scope to develop the business further with an expansion of product lines. New opening hours could also be beneficial. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Fixtures:
Shelving

Racking

Till

Fridges

Ice Cream Freezer

Cigarette Gantry
Trading hours:
MON - SAT: 06:00 - 17:30 SUN: 06:00 - 13:00
Tenure:
Leasehold
Location Details:
London
Leasehold Term:
£130 Per Week
Listed by:
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