Business for Sale in STEYNING, West Sussex NEWSAGENTS

Key Information

Reference

T35164T

Tenure

Leasehold

Status

For Sale

Region

West Sussex

Sector

Newsagents

Rent Payable

£13,500 per annum.

Business Rates

Rateable Value £13,750

Accommodation

No

Business Information

A well-established traditional Newsagents serving the local resident community, surrounding businesses and passers-by. The store was recently acquired by Alliance Property Holdings Limited, a wholly owned subsidiary of WM Morrison supermarkets limited, who acquired the assets and business of McColl's retail group plc (in administration).

Following a review by the Competition and Markets Authority, to remedy, mitigate or prevent the substantial lessening of competition in certain areas, undertakings have been given to divest a number of stores. Steyning is one of these stores and is therefore offered for sale.

Being a fully-managed company owned store, staff would be transferred along with the business. Currently, there is 1 full-time manager together with 3 part-time shop assistants and a number of delivery staff. We are informed that Retail Sales for the 10-month period to October 2022 were £425,128 (including vat).

If you are interested in the store, a discreet customer visit is encouraged but no direct approach should be made to either the vendor or their staff. Formal viewings will only be arranged after an acceptable offer has been made.