• SHORT TERM PARKING AVAILABLE RIGHT OUTSIDE
• RUN BY HUSBAND AND WIFE TEAM + 1 PART-TIMER
• BEAUTIFUL 2 BED FLAT AND DELIGHTFUL GARDEN
• A VERY PROFITABLE AND WELL RUN BUSINESS
• REPRESENTING A COMPELLING LIFESTYLE OPPORTUNITY
The business and property is located at 36 East Reach, Taunton, TA1 3ES.
In a 10 minute stroll along East Reach you’ll find a large number of independently owned shops catering for everyone’s needs, the very busy Victoria Gate Surgery with a spacious public car park to the rear, as well as three welcoming pubs. There is an active Traders Association and a strong community spirit.
Occupying an excellent trading position in a very busy thoroughfare with considerable passing trade and benefiting from short term parking immediately outside, this long established and unusually profitable newsagents with lottery is exceptionally well run by a husband and wife team with the support of one part-timer.
With sales of £5,000 pw (net of Vat) plus Lottery/Instants takings averaging £2,700 pw, the business has 5 delivery rounds (news bill of £1,600pw) and is generating a substantial net profit for the owners before the value of the residential accommodation is taken into account.
The business is not licensed currently but we see no reason why this should not be granted in this location which would suit later opening if desired by new owners seeking to maximise the income generation possibilities which might include the introduction of a parcels agency, Western Union agency, electricity and gas top-ups and ‘pic-n-mix’ display.
A superbly appointed and very spacious 2 bed flat is arranged over the first and second floors and to the rear of the property is a long, delightful, fully enclosed and entirely private garden with large shed and separate walk-in store cupboard.
This represents a compelling lifestyle business opportunity, easy to run and a full internal inspection is strongly recommended.
We understand that a newsagents has operated from the site for more than 100 years. The business has been under the current careful ownership since January 1998.
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £248,665 were reported for the year ended 28 February 2016, which generated a gross profit margin of 15.5% before lottery commission of £7,627, and produced an abridged net profit of £32,650 (13% of sales).
The owners have reduced opening hours to an extent over the last few years which has brought about a marginal reduction in turnover but a concentration upon product mix and pricing aspects has led to improved profitability overall.
The profit quoted excludes rent as the vendors own the freehold of the property and also excludes the value of the residential accommodation. The vendors live off site and have previously let the flat to generate additional income although it is currently vacant and in exceptionally good order throughout and will remain so pending a sale.
REASON FOR SALE:
After more than 17 years in this business the vendors now wish to retire.
The business is run by a husband and wife team without support now, a longstanding part-time staff member having retired recently.
Monday to Friday: 5.30am to 4.30pm
Saturday: 5.30am to 4.00pm
Sunday: 5.30am to 12.00 noon
(all sizes are approximate & should be considered 'nominal'.)
The business occupies a period terraced property arranged over three floors under a pitched and tiled roof. The tenement to the rear, which is also under a tiled roof, is arranged over two floors incorporating a spacious bathroom at first floor level and a spacious single storey extension to the rear, under a flat roof, is understood to date from the 1970’s.
The shop benefits from a bay window to the front elevation with prominent signage over and a sun canopy above a recessed open porch with tiled floor leads to a mainly glazed wooden front door with internal security bars which opens into:
Retail Shop (27.8 sq. m/300 sq. ft. approx.):
Suspended ceiling with fluorescent lighting. Floor laid to carpet tiles. High level wall mounted fuse box. Newspaper rack with further wooden unit immediately inside the front window. Full height fitted magazine rack to one wall alongside further fitted shelving for confectionery. 2 x freestanding carousels for greeting cards. 2 x freestanding wooden units with integral glazed display case for a selection of toys/gifts and open display space under. Large ice cream freezer with fitted display shelf over. Tall chiller units for dairy products, for energy drinks and a third for other drinks. Coca Cola chiller unit (on free loan). Fitted shelf unit for display of crisps and dry goods. Triple wooden unit forming part of the island display for dry goods and household products. Full width counter servery to the rear of the shop with hinged access flap to the right hand side. Electronic till and lottery equipment. Fitted shelving to the side for smoking accessories and stationery items. Fitted tobacco unit to the rear wall. A wooden door set at an angle to the rear right hand side with one way mirror glass panel gives access to:
Of irregular shape. Floor laid to carpet tiles. Wooden door to shallow fitted store cupboard. Wooden door to under stairs store cupboard. Alarm panel. Wooden fire door with step up to staircase leading to residential accommodation. Wooden doors to:
An unusually large facility with obscure panel to the rear elevation interconnecting with external walk-in storage cupboard. Vinyl floor covering. Wall mounted ceramic wash basin with tiled splash back and mirror over. Low flush WC. Space for cloaks. Loft access hatch.
Through Store (3.6m x 3.0m approx.):
Vinyl floor covering. Fluorescent lighting. Fitted storage shelving to each side. Wooden door to cupboard accommodating hot water tank with immersion heater serving the shop. Lockable wooden door with additional bolts to the shop side leading to:
Through Hall/Utility Room (3.2m x 1.9m):
Carpeted. Stainless steel sink unit with single drainer with fitted cupboard under and fitted wall cupboard over. Freestanding refrigerator with roll edge work surface on top. 2 drawer filing cabinet with printer on top. Further, marble effect roll edged work surface with matching shelf above, higher wooden shelf above and further wooden shelf to opposite wall. Doors to:
Sitting Room/Office (2.8m x 5.0m):
Arranged over two levels with single step up to the higher level at the rear. UPVC double glazed window to the rear elevation overlooking the delightful rear garden. Further smaller UPVC double glazed window to the side elevation. Freestanding desk unit with fitted wall shelving above. Extractor fan.
A wooden door from the side elevation of the Through Hall/Utility Room opens into a covered area under a polycarbonate roof with colour washed wall to one side and exposed brickwork opposite. Outside tap. Connected to the rear of the main building under a sloping tiled roof is a very useful Walk-in Store Cupboard with concrete floor and obscure panel to the rear interconnecting with the Staff WC as described above.
A wide, open passageway leads to a wide wicket gate giving access to the delightful garden which extends a considerable distance to the rear and is fully enclosed and private being arranged over four different levels each slightly above the other as you proceed. There are flowers borders, raised beds, mature shrubs, paved areas, lap panel fencing to one side with very healthy climbers including clematis and honeysuckle. Towards the rear on the right hand side is a spacious garden shed (2.4m x 3.4m approx.) which has been painted attractively. At the very rear beyond the shed is an area (5.1m x 4.5m approx.) laid to gravel and enclosed on three sides by lap panel fencing with space for a telescopic washing line.
This is a particularly attractive amenity space with a sunny aspect offering an ideal place to relax.
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
(all sizes are approximate & should be considered 'nominal'.)
The residential accommodation is accessed via a step up to a wooden fire door from the Inner Hallway to the rear of the shop. This door opens into a carpeted staircase which rises with a quarter turn and wooden banister rail with exposed spindles to one side to a half landing. Two steps up to the right give access to a wooden door to:
Bathroom (2.7m max x 3.0m max):
UPVC double glazed window to the rear elevation. Vinyl floor covering. Radiator. Tiled to half height to main part. Matching suite comprising pedestal wash basin, low flush WC and large bath with wooden side panel, fully tiled surround and Mira electric shower over with shower rail and curtain. Hatch to loft space. Fitted double cupboard with three fitted shelves and space and plumbing for a washing machine. Wooden door to cupboard housing a Vaillant gas boiler (installed in 2012) supplying hot water and central heating to the residential accommodation.
From the half landing three stairs rise with a half turn to:
First Floor Landing:
Carpeted main landing with gallery rail and UPVC double glazed window with stained glass to the side elevation. A carpeted staircase rises with a half turn to the second floor accommodation. An archway gives access to:
Hallway (3.5m x 1.1m approx.):
Carpeted. Radiator. Wooden doors to:
Kitchen (3.2m x 3.3m max):
UPVC double glazed window to the rear elevation. Wood effect vinyl flooring. Radiator. Fluorescent light. Former fire place recess with space for electric cooker. Attractive range of matching floor and wall cupboards with roll edged work surface. Stainless steel sink unit with single drainer, mixer tap and tiled splash back. Space for fridge freezer. Shelf for microwave oven. Extractor fan.
Lounge (3.7m x 4.5m max):
UPVC double glazed bay window to the front elevation. Inset feature fire place with slate hearth and mantel shelf over. Picture rail. Dado rail. Carpeted. Radiator. A delightful and spacious lounge with sunny aspect.
Galleried landing. Carpeted. Attractive arched wooden window to the rear elevation. Archway to:
Hallway (3.5m x 1.1m approx.):
Carpeted. Hatch to loft space. Doors to:
Bedroom 2 (3.3m x 3.3m max):
UPVC double glazed window to the rear elevation overlooking the rear garden. A spacious double bedroom with attractive former fire place recess. Carpeted. Radiator.
Bedroom 1 (3.7m x 4.6m max):
2 x UPVC double glazed windows to the front elevation. A very spacious double bedroom with space for a Super King size bed. Carpeted. Radiator.
The residential accommodation is presented to a particularly high standard throughout having been re-wired and re-plumbed by the current owners with a new gas fired boiler having been installed in 2012.
The vendors live elsewhere and the flat is currently attractively furnished having been let as such recently. Accordingly, the vendors would be prepared to offer the furniture, fixtures and fittings in the flat as available by separate negotiation.
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