Hilton Smythe is delighted to welcome to the market Aidan House News, a well established and busy newsagents, which is ideally located in the bustling city of Newcastle upon Tyne very close to the busy high street.
This well-established business has been in our clients' careful ownership for over 30 years. Only now is the business being offered to the market, due to our client looking to retire.
Our clients offer a wide variety of goods including convenience items, magazines, dairy produce, confectionery, soft drinks, alcohol and tobacco products, to name just a few; as well as the Lottery, Paypoint/Payzone, click and collect parcel service and newspapers.
The business has built up an excellent reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations, as well as good passing trade from the many visitors to the town.
Aidan House News is just 100 yards from the bus station so has a lot of passing trade and ample footfall.
The back of the business has an electric roller shutter for deliveries and has a storage area. There is also private parking for staff.
We feel there is scope to increase the turnover, a new owner could embark on a modest marketing campaign to promote the goods offered. Nearby is a large housing development which should in turn boost income. The opening hours could also be increased.
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership to take this popular business to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.Location
Aidan House News is based in Newcastle Upon Tyne, commonly known as Newcastle.
The newsagents is set in a bustling location just minutes away from the large Four Lane Ends bus station. This location receives all year round busy passing trade and the store further benefits from off-road parking.
Newcastle upon Tyne is well signposted, the city lies at the joining of the A1 and the A69. The A1 bypasses the city centre to the west and the A19 to the east via the Tyne Tunnel. Newcastle is served by three long-distance rail operators.Premises
Aidan House News is set on the ground floor of a two storey building which the landlord lives in.
The store is well-presented and clearly visible to passing trade with Premier Express branding. There is also off-road parking spaces at the front of the property.
The inside of the shop is spacious with lots of shelving space.
Equipment included in the sale:
4 x soft drink fridges
Fridge for alcohol
Ice cream freezer
There is a stock room to the rear with electric roller shutter entry.Tenure
We are advised the business is being sold as a Leasehold business opportunity.
Original lease length: 10 years
Rolling lease, new lease to be negotiated.
Rent: £9,800 per annum.
Business Rates: £0Hours
Monday: 6am – 7pm
Tuesday – Saturday: 6am – 7:30pm
Sunday: 6:30am – 12pm
The hours have been reduced to suit the pace of the owner and could benefit from opening longer.Staff
The business is run and managed by our client, with the help of 2 full time members of staff.Financial Profile
Aidan House News generated an advised turnover of circa £712,000, with a gross profit of 10%; as of the 2016 accounts.
Paypoint/Payzone commission - £50 per week.
Lottery Sales - £2,000 per week.