Retail premises for sale in London Road, Portsmouth PO2

£69,995
Interested in this property? Call +44 1204 351867 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Retail premises for sale
Tenure: Not available Council tax band: Not available

Property description

Business
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


Sales are split £6-7,000 retail, £15,000 pay point transactions, £3,000 lottery transactions.

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


The following is included in the sale:


  • 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


Early viewing is recommended.

Location
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.

Premises
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.

Hours
The business trading hours are as followed:

Monday to Saturday - 05:00am - 22:00pm

Sunday - 08:00am - 17:00pm

Staff
The business is run and managed by our client.

Financial Profile
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

Arrange Viewing

For more information about this property, please contact
Hilton Smythe Business Sales, BL1 on +44 1204 351867 * (local rate)

Contact Hilton Smythe Business Sales about this property

Enter details
    Morning (8am-noon)
    Afternoon (noon-5pm)
    Evening (5pm-9pm)
  1. Characters remaining: 500

By submitting this form, you accept our Terms of Use and Privacy Policy. When you click 'Send message''Request valuation', we will pass your personal data to the selected estate agents so that those agents can respond to your request for information or to arrange a viewing. valuation request.

Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Business Sales, and do not constitute property particulars. Please contact Hilton Smythe Business Sales for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

Properties on the market nearby

9 more properties like this

View all London Road commercial properties for sale