Our client has owned and operated the business under management for the last 10 years and has now decided to offer it to the market, presenting a clear opportunity for a new business owner. The business currently operates 7 days per week and generates an excellent turnover in the region of £390,000 per annum. It is open 0600-1800 Monday to Friday, 0600-1700 on Saturday and 0600-1300 on Sundays.
Due to its central location and the fact that two other newsagents have recently closed in the town centre, it is very well attended by locals and nearby businesses. A wide variety of goods are offered including newspapers and magazines, greeting cards, stationery, soft drinks, confectionery and toys. The business generates a strong revenue stream from newspaper deliveries to the village and surrounding countryside.
There is a high volume of repeat trade due to the business's good reputation. This could be developed further, perhaps by acquiring an alcohol license.
Selkirk, with a population of 6,000 people, is surrounded by picturesque countryside and historical features. It is conveniently located in the Scottish Borders approximately 38 miles south-east of Edinburgh.
The town benefits from good road links to the other main towns in the Borders with the A7 running through the town centre. The A68 is easily accessible offering road connections to towns such as St Boswells, Earlston and Lauder.
The subjects are situated in a prominent central location directly opposite the junction of Tower Street and the High Street. The High Street is predominately a mixture of retail and offices with residential properties on the upper levels.
Rail connections, meanwhile, are available via the Borders Railway from neighbouring Tweedbank providing regular services to Galashiels, Stow and, ultimately, Edinburgh Waverley.
There is plenty of on street parking close to the premises.
The subjects are a double fronted shop premises comprising the ground and rear first floor of a two storey property. There is a residential flat at first floor to the front of the property.
The shop is split into three distinct areas on the ground floor and has been fitted out to a good standard. The prime sales area comprising newspapers, magazines and confectionery, is to the front of the premises; stationery and greeting cards are contained in the middle section of the shop, accessed via a small flight of steps. A further set of steps lead to the rear section where toys and sundry other items are displayed. There is a separate store area to the rear and a door leading to a side pend where there is access to a further storage area at first floor.
The first floor is primarily used as storage but also contains a WC, shower and kitchen.
According to our recent measurement survey we calculate the approximate net internal area to be:
110 sq m (1,183 sq ft)
Leasehold. The subjects are offered on the basis of a new full repairing and insuring lease for a term to be agreed. An initial rental of £8,000 per annum (£153 per week) is sought.
Our client may also consider offers for the freehold of the property. £115,000 is sought, inclusive of the business goodwill, fixtures and fittings.
A guide price of £30,000 for the goodwill of the business, fixtures and fittings plus stock at valuation (sav).
According to the Scottish Assessor's website the subjects have a Rateable Value of £4,740. The uniform business rate for the current year is £0.484 pence in the pound.
For properties with a Rateable Value of £15,000 and under occupiers may be eligible for 100% rates relief through the Small Business Bonus Scheme, depending on individual circumstances.
The property is served by mains electricity and water.
The EPC rating is pending.
Each party shall bear their own legal costs with the eventual tenant liable for any Registration Dues or LBTT thereon.
Upon completion of a formal missive under Scots Law.
By appointment through the sole selling agents Allied Surveyors Scotland plc.