Refurbished Newsagents with Family Accommodation

Shildon, County Durham
Freehold Price:
£149,950
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Status
FOR SALE
Advert ID
205335
Reference
14395A / RightBiz

Details

LOCATION
This long established Freehold Newsagents is located on a busy through road leading to the town centre of Shildon in County Durham.

Shildon has a population of 10000 approx and is 2 miles south east of Bishop Auckland.

Set at the end of a row of terraced properties, the business in a prime position at the end of the busy Main Street overlooking a busy traffic junction. Passing traffic and footfall are high.

There are good parking facilities in the area including free parking immediately in front.

BUSINESS
Hilton Smythe welcomes to the market the busy and long established Main Street News.
This excellent family business, with excellent family accommodation, has been owned by our client for 3 years and has been established for at least 55 years.

The shop and living accommodation have been extensively refurbished and renovated by our client and indeed is still continuing. The shop has good retail units and shelving maintained by our client to a high standard. It also has an Epos till , alarm and cctv. The fittings and décor are of a high standard.

The news agency has 6 daily rounds with 3 rounds on a Sunday. There are approx 35 drops each round. The news bill is approx £1300 pw.

The business also sells magazines, confectionery, tobacco, cigarettes, cold drinks, confectionery, greeting cards, household items, gifts, groceries, cold drinks, coffee and other sundry items.

The business only opens in the morning presently to accommodate our client’s requirements. The business has an excellent reputation with a high level of repeat customers.

The business is sold with large, spacious and refurbished, 3 double bedroomed family accommodation which could be let out if preferred. The accommodation is separately accessed.

The retail area of the shop could easily, and at moderate expense, be extended by knocking through into the residential part of the property.

The business has massive potential to expand if an alcohol licence was to be obtained; National Lottery was to be obtained (it has been offered); the opening hours were to be extended to allow afternoon and evening trade; the retail area was to be extended to allow a full off licence/ mini mart/ convenience store etc.

Our client is reluctantly selling for family reasons. This is a tremendous opportunity for a new owner to buy and develop a newly renovated, long established and profitable newsagents, with excellent family accommodation and with genuine massive potential.

The asking price has been set to facilitate an early sale.

PREMISES & EQUIPMENT
This attractive business has good and clear signage, circa 184sq m.

The busy shop is accessed up steps from the front pavement.
The entrance door leads to an attractive shop on 2 levels with a long counter to the left.
Retail units, fridges and shelving display the range of items for sale throughout.

At the rear is internal access to the living accommodation.
There is also a separate front exterior access to the living accommodation.
On the ground floor is a large, attractive living room; fully fitted and equipped modern kitchen; meter cupboard (the shop and living accommodation have separate meters); storage area; toilet with facilities; laundry area and double garage with remote controlled door.

On the 1st floor are 3 double bedrooms ( 2 of which have walk in cupboards) and a large 4 piece bathroom with shower unit.

The premises are alarmed and have the benefit of cctv. There are solar panels on the roof.
The fittings and décor are to a high, modern standard.

The sale includes the shop counter, electronic epos till, coffee machine, 3 drinks fridges, shelves, retail units, cigarette cupboard and CCTV system.

Our client values these assets at approx £10000.

TENURE
We are advised that the premises are of Freehold tenure.

Business rates payable are exempt.

HOURS
The business currently opens:-

Monday to Friday 5.00am to 12.30
Saturday 5.30am to 12.00
Sunday 6.00am – 10.30am

STAFF
The business is run by the owner with 1 part time assistant and paper boys/girls.
Staff costs are approx £10,000 pa.

FINANCIAL PROFILE
We are advised that the 2016 accounts show a turnover of £162,740 with a GP of around 29%.

The accounts show an increase on turnover from £90913 in 2015. It is expected that the 2017 accounts will be similar to those of 2016.

Staff costs have been reduced by £10000 pa and this should be reflected in the next accounts.
Listing Details
Freehold Price: £149,950
Tenure: Freehold
Sector: Newsagents, Convenience Stores
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