Hilton Smythe is delighted to welcome to the market R Watson News. This business was originally established over 100 years ago. This is a well-used store in the community that benefits from a high amount of repeat trade.
Our client first took over the store in 1984 and has played a great part in this community. Our client is now looking to sell the business due to the desire to take a well-deserved retirement.
The store runs as a newsagents, general convenience store, post office and an off licence. The store does offer a newspaper delivery service with many rounds in the local area. We are advised the new bill provide an extra £2,000 per week.
The store has only very recently been converted to a post office. This was a great decision for the owner as is generates around £42,000 in commission each year. We have also been advised that the business has a dry cleaning section in the premise and this generates a third of the profit.
The store stocks a range of products such as cold drinks, alcohol, confectionary, cards, newspapers, magazines, cigarettes and more. The shop does also offer lottery scratch cards and a lottery terminal. This generates a healthy commission of £1,500 per week. The purchaser could look into a paypoint this would further boost extra revenue made.
The current turnover for the business is an advised £468,000 per annum with a gross profit of 20%. The turnover is great however we feel this could be massively increased by opening later hours.
This is a highly profitable business unopposed in this location. We believe this would be a fantastic opportunity for a husband and wife team.
Hilton Smythe highly advise early viewing to any buyer interested in running a busy post office store.
R Watson News is located in Bedlington, Northumberland.
The business is situated on a retail parade amongst a range of other retail stores. There is a home décor store, hair salon, banks, eateries, Morrisons, butchers and much more. This is a main road location that benefits the store; there is always a heavy amount of footfall. The road runs through Bedlington town centre and in to Blyth. There is off street parking bays and many car parks in the area.
This area has a generous amount of public transport links. There is a bus stop directly outside the business. These bus stops have regular routes into surrounding towns. Newcastle Upon Tyne is approximately 14 miles away from the business; this is an easy commute using the great road links. The A1 and the A189 are situated either side of the town.
The property boasts a single fronted well signed property. The business is fully signed with the post office branding.
On entrance is the main retail area, this space is open plan with centre display shelving. The service counter is to the right with front display for confectionary there is also a cigarette gantry and shelving for alcohol. This counter has a post office counter but the main one is to the rear of the store.
Around the perimeter is shelving and glass fronted drinks chillers. The central displays are card racks.
Further to the rear is a storage area with a staff toilet, kitchen and a further store room which is larger. Through here is access to the rear yard and bin store.
Four glass double fronted air cooled chillers
There is a security system fitted in the store and also CCTV throughout.
We are advised the business is Leasehold.
New lease available.
Rent: £9,360 per annum
The business is open-
Monday: 6am – 5:30pm
Tuesday: 6am – 5:30pm
Wednesday: 6am – 7:30pm
Thursday: 6am – 5:30pm
Friday: 6am – 7:30pm
Saturday: 6am – 7:30pm
Sunday: 6am – 12:30pm
The business is run and managed by our client with the help of 4 part time 1 weekend members of staff and 7 paper delivery personnel. The staff are very capable of the business alone making the business suitable as an investment opportunity.
The business generates a turnover in the region of £468,000 per annum.
With a gross profit of around 20%
Lottery £1,500 per week
News bill £2,000 per week
Post office commission £42,000 per annum
New Dry cleaning business which generates a third of the profit.
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