Newsagent for sale in Eastbourne

Eastbourne, East Sussex


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This business is marketed by

Nationwide Businesses Ltd View more business for sale by this agent

Situated in a parade of 4 shops, excellent main road trading position, residential area, EAST SUSSEX

WE ARE INFORMED the turnover averages £8,000 p.w. in our opinion offering tremendous potential for further increase, especially with additional opening hours. It should be noted that the business is situated in an expanding area & we understand that planning permission has recently been granted for 700 houses to be built within easy walking distance of the shop. Wholesale newsbill £1,200 p.w. Gross profit 22% approx. The business is agents for the sale of on line national lottery tickets plus scratch cards & we understand this provides a commission of approximately £60 p.w. The business also has Paypoint which we understand provides a further commission of £15/£20 p.w. We are further advised that the business has the Health Lottery. We are further advised that the sales year ending 31st January, 2015 showed £317,427 with a gross profit of £64,539 i.e. 20.33% plus commission receivable of £6,664 providing an overall gross profit of £71,203.

We understand the present tenants are paying a rental of £9,500 p.a. exclusive of rates. We further understand the landlord, subject to satisfactory references, is prepared to grant a new 15 years lease at an initial rental of £9,900 p.a. exclusive of rates with rent reviews. (The landlord is also quite prepared to discuss a shorter lease, if desired).

RETIREMENT SALE

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

The accommodation in the form of a SELF CONTAINED FLAT over, DOUBLE GLAZED, comprises:

2 Double Bedrooms
Bathroom with bath, wash hand basin
Separate w.c.
Lounge with open fireplace (electric fire)
Kitchen with fitted units

Monday - Friday inclusive - 5 a.m. - 7 p.m.
Saturday opening - 5 a.m. - 4 p.m.
Sunday opening - 6 a .m. - 12.30 p.m.

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £89,500 plus STOCK AT VALUATION (£24,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
Viewing Strictly by appointment.

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business information

Sale price: £89,500
Tenure : Leasehold
Status: Available
Sectors:
Newsagents
Off Licences
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