Retail property (out of town) for sale
Property description & features
- Established Newsagents in Popular Residential Area
- Providing Newspapers, Magazines, Quality Greeting Cards
- Gifts, Confectionery, Stationery and Lottery
- Post Office Facility Available Via Separate Negotiation
- Gentle Trading to Suit Current Owner's Requirements
The lock up unit is situated in a parade of shops including a convenience store, hairdressers, veterinary surgery and Fish & Chip Takeaway. The parade, which benefits from free on street parking, is located within the large residential area of Preston therefore providing a substantial customer base.
The business has been in the ownership of our client for 14 years. However, the newsagents has been established for 60 years. Previously the business traded from 7am to 6pm. More recently the owner has chosen to close at 2pm due to a change in circumstances.
MAIN RETAIL AREA - Circa 630 sq.ft
Well presented with retail counter, slat cladding to the walls with display racks and central display unit. To the rear:-
STORAGE AREA
STAFF KITCHENETTE
STAFF CLOAKROOM
REAR ACCESS
SINGLE GARAGE
Currently used for storage.
GENERAL INFORMATION
RATEABLE VALUE
2023 List: £6,600. Please note this is not Rates Payable. 100% Small Business Rate Relief will be available to eligible parties. Interested parties are advised to make their own enquiries with the Local Billing Authority, Torbay Council.
TENURE
The premises is available via a repairing & insuring lease at a rent of £5,952 per annum.
THE BUSINESS
We have been informed the turnover for the Newsagents (excluding the PO income) was circa £108,000 for year end March 2024. This is when trading on the reduced hours. When previously trading longer hours the turnover was circa £130,000. Should the next operator wish to take on the Post Office this will be via separate negotiation. Interested parties will need to apply direct to the Post office and go through the application process to receive approval.
INVENTORY
To include furnishings and equipment as per an inventory to be supplied, but excluding the owners personal effects.
STOCK
Will be taken over by the purchaser at valuation on the day of completion.
EPC RATING C
TENURE
The premises is available via a New Repairing & Insuring Lease at a rent of £5,952 per annum. Term to be agreed.
Tenure: Leasehold
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