Plymouth, PL3

Established Freehold Newsagents Located In Plymouth For Sale

Ref 2132

Location

This established and well respected Newsagents is located in the suburb of Mannamead in Plymouth, Devon. It sits within a highly visible and prominent position just off one of the main commuter roads into Plymouth. The area is densely populated with residential properties and is on a main bus route. Plymouth City centre is just 1 mile away where you will find the very popular Barbican and Hoe.

Business information

Freehold Asking Price: £169,999 plus SAV

Leasehold Asking Price: £56,000 plus SAV & £12,000 pa rent

Turnover: £410,429 net of VAT pa

GP: £126,318 (30.77%)

Paper rounds: 25

Stock: £11,000

Leasehold

Original term: New 10 year lease available

Rent: £12,000 pa

Rates: zero

Business Description

Veritas Business Sales are delighted to offer for sale this delightful Newsagents which is located in Mannamead Plymouth. The business has been established for over 50 years and has been in the careful hands of my client for the past 6 years and is reluctantly being offered for sale so that they can concentrate on other business ventures. Since ownership they have continually invested in new equipment along with fixtures & fittings which are all bought and paid for and are included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is owner operated and requires the help of 1 full time and 3 part time members of staff and has an annual turnover of £410,429 with a gross profit of £126,318 (30.77%). Mannamead News retails a range of products such as newspapers, magazines, confectionery, ice creams, cold drinks, greeting cards, gifts, tobacco, e cigarettes, vape products and stationary. We believe that there is further potential to increase trade by offering additional services, maybe adding an off-license and by extending upon the current opening hours. There are a number of new housing developments being built within the area which would give potential to increase the newspaper delivery rounds and bring more footfall to the area. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade. This is a superb opportunity to purchase an established business which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.

Opening Hours

Monday - Saturday - 6.00am - 4.30pm

Sunday - 6.00am - Midday

Ground Floor

Retail area comprising: sales counter, 2 electronic cash registers (Casio), drinks fridge (Bartlet), ice cream fridge, printer (Kodak), filing cabinet, various shelves and rotary display stands.

Office comprising: desk, chair, computer with monitor and key board (Dell), printer (Epson), various shelves, sink with drainer, filing cabinet and kitchen cupboard.

Store room with various shelving.

W/C with hand wash basin.

External

Small court yard area