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Shop for sale

Olive Lane, Darwen, Lancashire, BB3

£94,950
170 sq. m.

Property Description

Commercial information

  • Business for sale
  • 1,829 sq ft (170 sq m)

Key features

  • REF 12559
  • FREEHOLD
  • NEWSAGENTS

Full description

Tenure: Freehold

LOCATION
Ibrahim News is located in the market town of Darwen, Lancashire.

The newsagents is situated on a residential road in a densely populated area of the town and close to a busy commercial area. The business benefits from excellent footfall and high repeat trade from the local residents.

The closest bus stop to the business is a short walk away and the town centre has regular bus services running throughout the day. Darwen train station is a 2 minute drive away and can take you directly to Clithroe, Manchester Victoria and Blackburn.

BUSINESS
Hilton Smythe are proud to present to the market Ibrahim News.

This popular newsagents has been established for many years, with our clients a husband and wife team successfully running the business since inception in 2008. The shop is currently turning over a figure of £122,000 per annum with a gross profit circa of 22% as per 2015 accounts. The business also offers a newspaper delivery round in the area of around 50 papers a week generating a good steady weekly income.

The current business activities include the retail of groceries, confectionary, fresh and frozen goods, gifts, cold drinks, magazines, newspapers and these are just a named few. The business has an excellent reputation and is very well known in the area.

The business operates from a substantial corner premise with attractive 4 bedroom family accommodation. The size of the premise opens up the potential to reconfigure the ground floor to extend the retail area or perhaps convert part or whole of the premise to flats (subject to planning) as rear access is available.

Although we feel Ibrahim News has a very healthy turnover, we believe the business has the scope to generate additional income, perhaps by applying for an alcohol license, introduce the national lottery and extend opening hours into the evening.

Early viewing is highly recommended.

PREMISES
Substantial corner terraced property with retail shop and very spacious 4 bedroom family accommodation.

The business has noticeable signage with front and side parking to the business and the property is fitted with shutters and CCTV. The business also has front and rear access.

Shop Floor
The well-equipped shop is fitted with effect wooden flooring, a wooden counter, shelves and units fitted throughout. Behind the service counter is a cigarette cupboard. To the rear of the property is part of the owner's accommodation including 2 large spacious living rooms fitted with fireplaces, modern fitted kitchen and rear yard. The accommodation has recently been replastered and recarpeted throughout.

First Floor
There is a staircase to 3 large bedrooms and fully modern bathroom with a shower.

Second Floor
There is a staircase to a double attic bedroom which is fitted with a skylight.

Equipment:
• Freezer
• 2 Drink Fridges
• Counter
• Till
• Cigarette Gantry
• Shelving
• Shutters | front and rear
• CCTV•
TENURE
We are advised that the business is Freehold.

HOURS
The business is open from:
Monday - Friday: 6:00am - 6:00pm
Saturday: 7:00am - 5:00pm
Sunday: 8:00am - 1:00pm

STAFF
The business is currently run by our clients.

FINANCIAL PROFILE
The business reports an annual turnover of £122,000 per annum and has a gross profit circa of 22% as per 2015 accounts.

The average weekly takings for new sheets is £500.


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