Old Established Newsagent and Post Office in East Sussex For Sale

Situated in a parade, busy road, residential area, EAST SUSSEX

Turnover £ 2,750
Post Office £ 88,000
Price £135,000

Features

Old Established Newsagents & Post office

DOUBLE FRONTED PREMISES in the region of 440 ft² with lino floor, suspended ceiling with LED panel lights, Air conditioning with hot air, Combi sales counter, EPOS till., cigarette gantry, modern adjustable shelving, Coca-Cola fridge, walls Ice Cream Freezer, card display stands, CCTV system (8 cameras, 1 monitor)

Post Office Counter with anti-bandit screen. (2 positions), etc. to rear.

Stock room.

Staff Toilet with w.c. and wash hand basin.

Kitchen.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £2,750 p.w. with a Gross profit of 28% approx.. Wholesale newsbill £600 p.w.. POST OFFICE income in the region of £88,000 p.a. approx.

WE ALSO UNDERSTAND that in addition to the turnover the business also enjoys a commission of:

NATIONAL LOTTERY £40 per week approx.

Staff

The business is at present operated by the vendor on a part time basis with 3 full time & 1 part time staff.

Trading Hours

7 Day week
MONDAY - SATURDAY 7am - 6pm
SUNDAY 8am - 1pm

PO Section
MONDAY - SATURDAY 9-5.30

Outside

Rear yard & Parking space for 1 car.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 10 years in 2015 with reviews every 3 years (next review 2027) at a current rent of £10,000 p.a.

We further understand that the landlord, subject to satisfactory references, is prepared to grant a new lease at terms and rent to be agreed.

NIL Business Rates after full relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2015, AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

TO INCLUDE THE, GOODWILL, FIXTURES & FITTINGS £135,000 plus STOCK AT VALUATION (£10,000 APPROX.)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 67,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote