Prominent Main Road Position
Projected Annual Turnover £468,000
Projected Gross Profit £93,600
Rental Income Of £26,520 Per Annum
Further Financial Info Available After Viewing
Twenty Year Trading History
Active Lottery & Paypoint Services
Repeat Customer Base
Scope For Marketing Drive
Scope For Additional Product Lines
Potential To Apply For 24 Hour Opening
Scope For Online Presence
EPC – C
REF 7915 – Leasehold Convenience Store & Newsagents
Blacks Brokers are pleased to bring to the market this leasehold convenience store & newsagents located in Preston, Lancashire.
H and V News was established over two decades ago in this affluent area of Preston and was acquired by our client in February 2022. The business offers groceries, alcohol and baked good. It has become very well known in the area and has a strong base of regular customers in place as well as benefitting from a huge amount of passing trade due to this excellent trading position. Our client has ensured the business has an excellent reputation and superb reviews are noted on Google.
H and V News occupies a main road trading position within a parade of shops and offices. The area is densely populated commercially with neighbouring businesses including independent retailers including a tanning salon and barber shops as well as large multiples such as Texaco Petrol Station. The area is well linked by the M6/65 with strong public transport links and parking is available in the surrounding area.
REASON FOR SALE
The business is ideally suited to a hands-on owner-operator but due to our client’s other business interests being higher than anticipated, the business is offered for sale. This presents an excellent opportunity for a new owner looking for a solid business investment.
The building is available on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial lease. A new twenty year lease will be negotiated upon completion at a cost of £577 per week.
The business currently operates with two owners and four full time shop assistants.
H and V News has traded steadily since opening and our client has established a strong repeat customer base. We are advised that the business has a projected annual turnover of £468,000 and a projected gross profit of £93,600. Full financial information is available upon request.
The business has a rateable value of £4,600. Purchasers should enquire with relevant local authorities to confirm the rates payable.
This well-established business occupies an enviable trading position in the busy area of Preston. Our client has secured a strong customer base and exceptional reputation. There is plenty of scope to develop the business further with the introduction of new product lines and 24 hour opening. A new online presence and social media use could also prove beneficial. This proposition would ideally suit an owner operating team who could push the business forward or someone looking for a new business investment and build upon the solid and impressive trading foundations. Early viewings are strongly advised.