Mailbox Estates present this unique opportunity to purchase a very busy newsagent store.Trading in a prime high street location in the beautiful market town of Shrewsbury and having been established for over 80 years with the current vendor trading for over 20 years. Do not miss out on this great opportunity to purchase this gem.
The store offers newspapers and magazines, confectionery, cigarettes and tobacco, E-cigs and liquids, sandwiches and snacks, ice cream, mobile top ups, hot and cold drinks, cards and stationery, lottery and much more.
This a retirement sale of a very attractive business with the current vendor having a trading history of 20 years plus.
Location * This newsagents store is prominently located in the town centre on a busy street and so benefits from high levels of footfall and passing trade. * Shrewsbury's award winning indoor Market Hall is situated opposite and the 6th Form College and university student accommodation nearby. * The shop sits alongside other complimentary retail businesses including several well-known high street names. * Shrewsbury is a destination town popular with tourists having many historical buildings and a thriving scene of independent shops, bars, cafes and restaurants. * The store is well presented and maintained, with clear visible signage.
Tenure * We have been advised that a new lease option of 20 years is available with further terms to be negotiated.
Staff: * The business is run by the owners with 4 part time staff members.
External: * There is on street parking available outside the business and several nearby carparks.
Shop floor Plan * Ground floor - Shop sales area of approximately 30 sq. metres. * Access to back office/stockroom through rear of shop. Stairs to 1st floor. * 1st & 2nd floors - Former owners accommodation currently used for office, storage and secure stock room.
Accommodation The business also includes potential 2-bed accommodation but is currently being used as storage space.
Rent * We have been advised the rent per annum is £14,500.
Business Rates: * £0 council tax per year. ( small business rates relief ) * Purchasers should enquire with relevant local authorities to confirm the rates payable.
Legal costs * Each party to be responsible for their own legal costs in connection with the sale.
Turnover We have been advised by our client that the average weekly counter sales are £15,629 for the last 26 weeks. ( As of 3rd Febuary 2023).
Average lottery commission for last 16 weeks is £387 per week.
Counter sales only *The annual turnover for 2018 was £595,705 *The annual turnover for 2019 was £618,484. *The annual turnover for 2020 was £437,634 (The sales were impacted due to Covid 19 as the business was closed for a 12 week period and once reopened, opening hours were reduced until restrictions were eased).
Fixtures and Fittings The business is well-fitted throughout and a valuable inventory of equipment is included in the sale price.
Reasons to buy * The business works on an impressive 21% average gross profit. * Ideal owner managed or family business * Potential for further growth by extending business hours and adding wines, spirits and beer. ( subject to applicant obtaining an alcohol licence) * Ideal trading position on a busy high street and ample car parking nearby * Expenses are very low and there are no business rates * Current owner happy to offer a handover to ensure the continued success
Mailbox Estates highly advise early viewing to avoid disappointment.