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£0 £1000000

Maddisons News Cherry Willingham Lincoln Lincolnshire LN3 4JL

Lincoln, Lincolnshire

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Sold

£104,950 +SAV

Ref: 2694 F

Leasehold

Overview

Hilton Smythe are delighted to welcome to the market Maddisons News. This big local store has a vast range of stock. Serving the public since 2005 our clients have successfully built up the business and have generated an advised turnover of around £437,824 with a gross profit of 25%. With a large amount of potential to increase turnover this business is a great investment for a new owner. This business is a traditional confectionist, tobacconist and newsagent and also has 9 news delivery rounds. This property has so much space and can possible introduce a larger product range. We are advised that the current owners have been in discussion with the post office to install a post office counter in the shop to further revenue. The business has a long established loyal customer base and benefits from the repeat trade of the locals. At the front of the store is a free public car park, this allows customers to get to the store without any problems.

Turnover
We are advised the turnover for the business is around £437,824 per annumWith a gross profit of 25%

The business is owner run and managed with the assistance of 1 full time staff member.

Business opening times- Monday – Friday: 6am – 5pmSaturday: 7am – 4pmSunday: 7am – 12pm

Maddisons News is situated in Cherry Willington is the historical city of Lincoln, Lincolnshire. Home of the wonderful Lincoln Cathedral this town is the perfect setting for this lovely newsagents. The business is set within the village town centre shopping parade which is situated on a densely populated housing estate. With many customers shopping here from around the local area. Next door to the shop is a Co Op and a Chinese in such a small area there is a vast range of shops. Just a 10 minute drive away is the local community school, care home, many other shops and another cluster of housing. The nearest train station is around 15 minutes away from the property, which heads to Sheffield, Cleethorpes, Grimsby, Sleaford and also Leicester.

This property was originally 2 shops, and was knocked through to open up this double fronted large newsagents. The store is very spacious inside and makes use of space by having perimeter shelving around the store. The shop has been well laid out with 2 separate sections for stationary, cards and gifts. The other section of the shop is used for general household goods, confectionary and also magazines. Each of the areas has two central display isles running through the store. Equipment included in the sale- 11 x drawer card display unitStationary supplies and toy displayFull length magazine display shelving Newspaper stand1 x 2 door drinks chiller1 x 1 door drinks chiller3 tier ice cream freezerSweet display cabinetShelving for loose sweets Central service counter with glass front display cabinet2 x epos tills ScalesCigarette gantryCCTV system with 13 cameras. At the back of the store is a store room for paper. There is also a second store room which is used for stock. For staff there is a kitchen and a W/C.

Tenure
We are advised that the business is LeaseholdOriginal lease length 6 yearsRemaining length of lease 5.5 yearsReview period 3 yearsRent £10,400 per annum

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