Please quote reference 14457
Hilton Smythe are delighted to present to the market Select News. Established in the area in 1970 and purchased by our client in 2015 who has now decided to sell to concentrate on another business project.
The traditional newsagents has been improved and modernised by our client who has introduced more grocery items, confectionery and alcohol sales to the business.
The business is split between £1,800 Oyster cards sales, £2,000-2,500 Lottery sales, retail sales including cigarettes, groceries, drinks and confectionery, alcohol, magazines, newspapers, stationery, traditional sweets, household goods, greeting cards, toys, novelty goods and special items averaging around £2,000 per week.
Newspaper bill is average £350-£400 per week and the mobile phone counter brings in between £7000-8000 annually through rent.
The shop also rents a space to the front left side of the unit to a mobile repair business which attracts additional footfall.
Potential lies in increasing the additional add on sales from the heavy footfall of early morning and late evening commuters, adding additional refrigeration and increasing the alcohol range could quickly increase current weekly retail sales levels.
The large 3 storey property also comes with a spacious 3 bed maisonette to the first and second floor with own separate entrance which can either be used for either new owner’s accommodation or rented out to achieve a rental income of around £22,000-25,000 per annum.
Agreed handover offered.
Select News occupies an enviable trading position on new parade in central Ashford, Middlesex.
The busy parade of shops includes high street banks, post office, grocery store including Sainsbury's, independent retailers, large multi storey car park, council offices and limited free parking apaches directly outside the business.
Ashford is a town and suburb of greater London, a large residential area with excellent road links and only 13 miles southwest of Charing Cross and only 2 miles south of Heathrow airport.
The area is well known for large collection of reservoirs, Bedfont Lakes Country Park, Stanwell Moor and Ashford Common.
The A308 links commuters to both the M3 motorway to the east and the M25 motorway network to the west.
Nearest mainline station is Ashford central.
Mid parade premise circa 61sq m retail space.
Ground floor - mobile phone counter with own glass serving cabinet and rear storage, left side of shop is dominated by long service counter which includes lottery terminal, till, card machine, cigarette gantry, confectionery shelving units, rear wall storage units including wine and spirits display shelving.
Right side - magazine racking, 3 glass fronted drinks chillers and greeting card display units.
Middle gondolier unit includes newspaper rack and display shelving to both sides.
Rear - greeting card display units.
Rear storeroom - includes kitchen area, storage shelving and staff toilet.
1st floor - hall, kitchen, bedroom, living room.
2nd floor - 2 x double bedroom, bathroom
We are advised Leasehold.
Original lease length is 8 years.
As of 2017,6 years remain.
Rent is £36,000 per year.
Shop - £22,500P/A
Monday to Saturday 6.00am to 8.30pm
Sunday 6.00am to 4.00pm.
The business is run by a family member with a part time member of staff working in the morning to assist.
The business reports turnover in the region of £260,000 per year, with a gross profit of circa 23%.
Please quote reference 14457