Business for Sale in West Sussex LICENSED NEWSAGENTS & CONVENIENCE STORE NEAR THE WEST SUSSEX COAST

Leasehold Price £95,000

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Key Information

Reference: T35152T
Status: Sold
Region: West Sussex
Sector: Newsagents
Annual Sales: £480,000.00 Exc. VAT
Accommodation: No

Business Information

This well-established business is located in a very pleasant parade of shops close to the seafront in an affluent residential area to the west of Bognor Regis in West Sussex. There is unrestricted car parking directly to the front of the property and in the surrounding area.

The property is very well equipped for the trade with an excellent retail display and a small office accessible either through the shop or via the rear entrance. Currently, the premises are fully licensed applicable from 6.30am – 8.00pm. Please note that the business is being sold as a “lock-up” shop, i.e. there will be a new lease for the shop only with no residential accommodation.

With great support from the local community, the business is currently run by a husband and wife team together with 3 members of staff. The shop sells an extensive range of items including newspapers & magazines, alcoholic & soft drinks, cigarettes & tobacco, sweets, snacks, greetings cards & balloons, gift wrap, stationery, fruit & vegetables, chilled foods, frozen foods and ice cream along with a good selection of other household and convenience goods.

There are full National Lottery and Payzone facilities along with an ATM. The weekly news bill is approximately £2,500 and there are 9 delivery rounds in the local area. The shop opening hours are: Monday to Saturday 6.30am – 5.00pm & Sunday 6.30am – 1.00pm. Accounts for the year ended 30^th September 2020 show annual sales of £480,173 with a gross profit of £117,708. The vendors are offering the business for sale with the benefit of a new 10-year lease at a commencing rent of £875 per calendar month.

Clearly, this is already a thriving business but there is still potential to increase takings, perhaps by extending the opening hours or by introducing a local delivery service. There is no immediate competition nearby and, in this very attractive location, new owners will be taking over a ready-made business with proven profitability.

LEASEHOLD £95,000 REF: T35152T