Business for sale

Business description

Location This business is located in Gloucestershire.

We are informed the turnover averages £4,000 p.w. in our opinion offering tremendous potential for further increase in the right hands. Wholesale newsbill £1,800 p.w. Gross profit 21.75% approx. Post Office salary £40,000 p.a. approx. (The sub post office has the advantage of being able to issue Motor Vehicle Licences).

We understand the draft accounts year ending 31st January, 2003 showed sakes of £194,505 with a gross profit of £42,311 i.e. 21.75% plus Post Office Salary of £39,140 providing a total gross profit of £81,451

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £95,000 plus STOCK AT VALUATION (£14,000 approx). SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

OR TO INCLUDE THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS £295,000 plus STOCK AT VALUATION (£14,000 approx).SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT

Features Outstanding opportunity to acquire an old established Newsagents with Sub Post Office, which has been in the same family since 1879, and the present owner has been sub postmaster since 1958.

The business is reluctantly offered for sale due to the owners' retirement.

Georgian Property.

Spacious double fronted split-level Sales Shop, approx. 700 sq. ft. sales area, carpeted, suspended ceiling. Well equipped including slats to walls, modern shelving, 8 greeting card display stands with drawers, 6 greeting card display spinners, upright single-door drinks fridge, counter, electronic cash register, computer for news deliveries, attractive post office counter with anti bandit screen (3 positions plus parcel hatch), etc.

Staff The business is at present operated by the owner's son-in-law plus daughter on a part time basis, plus 3 part time plus 1 casual in respect of the retail shop plus 1 full time and 4 part time staff, in respect of the sub post office.

It will be appreciated upon inspection that with a more active husband and wife team, the wage bill could be reduced. 13 morning newsboys employed, delivery charge 75p/£1 p.w.

Opening Hours Monday/Friday incl. 6 a.m. - 5.30 p.m.
Saturday opening 6 a.m. - 1 p.m.
Sunday opening 6 a.m. - 1 p.m.

Accommodation The accommodation, situated on the first floor, is at present used partly for stock, however, in our opinion, with little expense, could be utilised as a 2-bedroomed Flat.

The accommodation, in its present form, all generally in good condition, comprises:

Front room, double bedroom with en suite shower room with shower, w.c. and wash hand basin.

Large rear room, approx. 23 ft. x 15 ft. (could readily be split into 2 rooms).

Kitchen with fitted units.

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

As stated, and which will be appreciated upon inspection, the first floor accommodation, in our opinion, could readily be converted into a 2-bedroomed flat.


Tenure The vendors own the freehold and subject to satisfactory references are prepared to grant a new 16 years full repairing and insuring lease at a rental of £14,000 p.a. exclusive of rates for the first years, with rent review at that time and thereafter every 4 years.

Uniform Business Rates: £2,900 p.a. approx. + water rates.

AS STATED, THE BUSINESS HAS BEEN IN THE SAME FAMILY SINCE 1879 AND IS NOW SOLELY OFFERED FOR SALE DUE TO THE VENDORS' RETIREMENT.

OUTSTANDING OPPORTUNITY TO ACQUIRE A MOST ATTRACTIVE NEWSAGENTS WITH SUB POST OFFICE IN THIS MOST SOUGHT AFTER COTSWOLDS LOCALITY.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED.
MUST BE SEEN TO BE FULLY APPRECIATED.


Reference : C6053