Prominently positioned on Main Street, established and profitable newsagent for sale due to retirement. 673 sq ft/62.5 sq m of adjoining retail areas, back shop/store, office and toilet. Alarm, roller shutters to display frontage, CCTV. T/over in excess of £368,000; weekly newsbill around £2,000.
Location
In the heart of the busy main retail and commercial centre of Uddingston. Lay by style on street parking is available on Main Street and there are free public car parks nearby. Neighbouring and nearby occupiers include Your Move, Tunnocks, Boots, Greggs, hairdresser, butcher, fruit shop, florist, barbers, dry cleaners and Cheque Centre, Ladbrokes and deli opposite.
Accommodation
DESCRIPTION:
Part of the ground floor of a 3 storey red sandstone tenement building with a single storey front projection. Protected by 3 roller shutters, glazed display frontage and matching door to principal retail area with open plan access to adjacent secondary retail area which has backshop/store, small office and toilet off to the rear.
Whilst a full inventory of equipment can be prepared prior to the conclusion of a sale, this includes security alarm; CCTV; slat boarding and shelving; display racks; counters; electric till; confectionery display; greetings card displays.
BUSINESS:
Our client is considering retirement having owned and operated the shop for over 10 years. The central location in the busiest part of Uddingston Main Street allows The Paper Shop to maximise the local trade and enjoy the benefit of passing business. Our client fully understands that a new operator may refurbish the premises and/or rebrand the shop together with altering stock lines with a view to reaching optimum business levels however there is an established core business built on years of experience which will benefit any incoming trader.
Staffed by our client and 2 part time assistants, the current opening hours are 6.00 am – XXXm Monday to Friday; 6.00 am – XXXm Saturday and 6.30am – XXXm Sunday.
There are currently no lottery sales. Our client informs us the weekly newsbill is in the order of £2,000 and there are 11 daily delivery runs and 15 on a Sunday.
Following several years of consistent turnover in 2011 the business was affected by aggressive discounting by a local competitor who has now ceased trading. Consequently, the most recent accounts, to October 2012, have shown a healthy increase in turnover to over £368,000, in line with the years prior to 2011, with a gross profit of around 19.5% and a resultant adjusted net profit of approximately £25,000.
Profit and loss accounts can be made available to financial advisors of genuinely interested parties only after viewing the premises.
RATEABLE VALUE:
£12,900
The Small Business Bonus Scheme offers up to 100% rates relief and further details are available on the Scottish Government website: www.scotland.gov.uk, under the heading Topics, Public Sector, Local Government, Local Government Finance then Non Domestic Rates.
AREA:
673 sq ft/62.5 sq m or thereby net internal area
EPC RATING:
E
Terms
OFFERS OVER £165,000 are invited for the property, Goodwill, fixtures, fittings and equipment. Stock will be purchased separately at valuation.
In the first instance all offers should be submitted to Mr Cameron of this office.