For Sale
Well Established Newsagents For Sale
Portsmouth, Hampshire
- Asking Price: £54,995 +SAV
-
Turnover:
We are advised the business generated a turnover of circa £350,000 as of 2020, further financial information can be made available upon request.
Please quote reference B06539
- Tenure: Leasehold
Please quote reference B06539
Hilton Smythe is delighted to present to the market Reed News, a busy community Newsagents with over 25 years of goodwill. Our clients purchased the business 15 years ago and due to family reasons they are now having to relocate to London which is now forcing the sale.
There will be a new and very attractive 10-year lease available with the business which also includes the potential to extend the shop at the rear.
The business benefits from small business rate relief.
The business offers -
- Large range of Magazines, newspapers and greeting cards
- Crisps, confectionery, bagged sweets, ice cream
- Cold drinks, grocery items and pharmacy goods
- Very large selection of wines, beers and spirits
- Cigarettes, vaping fluids and papers
- Lottery, pay point and parcel collection
- Western union money transfer, mobile phone top up
Our clients recently added a fitted ATM machine to the front of the shop which is attracting new footfall.
The business attracts a very loyal customer base of local residents, shoppers and retail workers.
There is opportunity to re model the shop and extend the retail space to the rear of the unit, extending the hot food to go and grocery lines could add extra sales as well as adding more mobile phone accessories or repairs.
Key selling points -
- News bill of £1,000 per week
- £350 monthly ATM commission
- £250 monthly National Lottery commission
- £200 monthly Pay zone commission
- High Footfall area
- Directly next door to busy Ladbrook’s
- ATM machine - integrated to left hand side of shop front
- 2 triple width open display chillers
- Double width glass fronted chiller
- Newspaper stand, magazine display unit, crisp stand
- Grocery display shelving, ice cream freezer, confectionery shelving
- Very large open alcohol chiller
- Wine shelving
- 2 x epos till points, lottery machine, pay point machine & card machine
- Storage shelving, cigarette gantry, large area for spirits, vaping fluid stand
- There are 16 x cameras throughout
The business is run and managed by our client.
The business trading hours are as followed:
Monday to Saturday - 05:00am - 22:00pm
Sunday - 08:00am - 17:00pm
Reed News occupies a highly enviable central trading position on London Road in Portsmouth, Hampshire.
The business sits along the area's main shopping High Street which includes many independent retailers and cafes, major High Street banks and building societies, betting shops, pharmacies and supermarkets such as Iceland, Aldi.
There is also a popular junior school Isambard Brunel junior school within walking distance of the shop.
The High Street is accessed just off the busy M275 link road which connects commuters to both the centre of Portsmouth and to the nearby M27/A27 cross country motorway.
Portsmouth is a thriving port City and naval base on the South coast, mostly spread across Portsea Island. It is known for its maritime heritage and historic dockyard.
The business benefits from 2 x nearby pay and display customer car parks.
Ground floor -
- Retail area
- Service counter
- Rear stockroom / kitchen area
- Staff toilet
- Access to private yard and bin storage area.
Tenure
We are advised the the business is being being sold on a Leasehold basis with a new 10 year Lease for a new buyer, the rent is set to be £1083 per month.
There will be a rent review after 5 years.
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Representative Example
Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83
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