Leasehold Newsagents and Off-Licence in Warwick, High Footfall Area Near Castle
Warwick, Warwickshire
- Status
UNDER OFFER
- Date Submitted:
04/04/24
- Advert ID
609248
- Reference
2374 / Rightbiz
- Call Agent:
- Leasehold: £52,500
- Turnover: Not Applicable
- Net Profit: Not Applicable
Business Details
Leasehold Newsagents and Off Licence Located In Warwick
Leasehold Newsagents & Off-Licence Located In WarwickNews Bill £2,000 PW
Ref 2374
Location
This respected Newsagents is located in the historic town of Warwick which is one of Warwickshire’s popular tourist hotspots. It’s sits within a prominent and highly visible trading position close to Warwick Castle and large retailers to include Greggs, Savers and Lloyds bank which bring high levels of footfall to the area.
Asking Price: £52,500 plus SAV (£15,000)
Business Description
Veritas Business Sales are delighted to offer for sale this delightful Newsagents which is located in Warwick. The business has been established for over 20 years and has been in the careful hands of our clients for 1 year and is reluctantly being offered for sale due to family commitments.
Since ownership they have continually invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. Cabin News is owner operated with the help of 2 part time members of staff and for year ending 31st March 2021 posted a turnover of £234.536 net of vat, producing a healthy net profit. They retail groceries, stationary, cold drinks, milk, confectionery, newspapers (news bill £2,000 per week, 7 morning rounds), magazines, greeting cards, hardware, medicines, toiletries, tobacco, beers, wines and spirits. Other services include The National Lottery (sales £1,600 per week) and Payzone (sales £15,678 pa).
We believe that there is further potential to increase trade by expanding upon the current opening times. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting tourists. This is a superb opportunity to purchase an established business which is a great base to build upon and as such early viewing is highly recommended as this is not to be missed.
Opening Hours
Monday – Saturday – 6:00am – 6:00pm
Sunday – 6:00am – 2:00pm
Leasehold
Original term: 15 years
Remaining: 6 years
Rent: £13,000 pa
Rates: zero
Ground Floor
Retail comprising: serve over sales counter with cash register, lockable tobacco kiosk, news & magazine shelves, sales & display shelves, stationary section, greeting cards section, ice cream fridge, toiletries area, double door drinks chiller and 2 x 2 door Coca Cola fridges.
Kitchen with sink drainer, office area with CCTV monitor and storage shelves.
Stockroom with shelving.
W/C with wash basin.
The property benefits from CCTV (4 camera system) and an air conditioning unit/hot air blower.
Contact Agent
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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