Hilton Smythe welcomes to the market Whateleys Newsagents and Post Office, which has been owned by our client, who is looking to retire, for over 30 years.
Whateleys is a traditional newsagents and post office located in a high footfall residential area in St. Ives.
The business comes with a first floor 2 bedroom flat, which is currently let on an Assured Shorthold Tenancy at £8100 per annum.
The business has a Facebook page with 4.7* reviews but does not have a website, which leaves some scope for development.
The is the option of increasing the rent slightly on the flat to improve turnover.
Hilton Smythe highly advise early viewing to avoid disappointment.Location
Whateleys Newsagents and Post Office is located in a well populated residential area of St. Ives, Cambridgeshire.
There is parking on the road directly outside and further parking on a side road approximately 30 yards away with a parking area.Premises
The shop is entered off the main road and has shelving for:-
Further central 5 tier grocery shelving
Drinks display fridge
The counter serves both the newsagent and the post office and has the till and lottery machine.
Behind the counter is the stock room, safe, kitchen and staff toilet facilities.
The premises has a CCTV systemTenure
We are advised the business is being sold as a leasehold business opportunity with a 5 year lease from 2015 and an annual rent of £15,000, which includes the flat.Hours
Monday- Friday: 6.30am – 6pm
Saturday: 6.30am – 4pm
Sunday: 6.30am – 12 noonStaff
The business is run and managed by our client, with the help of 1 x part time and 3 x full time members of staff.Financial Profile
Whateleys generated an advised turnover of circa £350,000 as of the 2018 accounts.
Plus a Post Office income of circa £33,000 and annual rent form the flat of £8,100