Shop for saleSnakes Lane, Woodford Green, Essex, IG8
Guide Price £69,000
- Business for sale
- Traditional newsagents close to underground station
- Weekly retail takings aproximately £5,500
- Densely populated and affluent residential area
- Viewing highly recommended
Well used and well established newsagents situated in Woodford Green, South Essex / London boarders and located within 300 yards of Woodford Underground Station, which is in Zone 4 of the Central Line. The surrounding area has a good level of footfall throughout the day due to the library, town centre and schools which are all close by.
The business has been owned by the same family since 2000, but we have been advised the business has been successfully trading from the same spot for over 40 years. Under the current ownership, JK News has forged strong links with the local community and boasts an extensive and loyal customer base, along with heavy footfall on a daily bases given the location.
JK News trades from a prominent location within a mixed use building, with residential flats above the retail units which comprise of other independent operators such as a café and pharmacy along with national retailers.
The surrounding area is a densely populated residential area and in our opinion this store represents an excellent opportunity to acquire a lifestyle business, with genuine potential to increase income with the addition services such as Lotto, a combi post office till, Bake 'n Bite and a coffee machine due to the level of commuters using the store each day.
Current shop sales average £5,500 per week in retail sales.
Whilst the business has been granted a licence to operate a Lotto terminal, the current owners have yet to sign the contracts due to personal reasons but would be beneficial for any new operator.
Year end accounts and current records can be inspected when viewing.
Monday - Saturday 06:00 - 17:30
Sunday and Bank Holidays 06:00 - 12:00
The business is operated and managed by both owners on a daily basis. Additional staff are used for the 10 paper rounds.
This is a mixed use building with residential flats above and retail space on the ground floor level occupied by independent operators and national chains.
The shop provides a welcoming and good sized, flexible trading area which is presented in a good condition and stocks an excellent range of greeting cards, newspapers, magazines, stationary and confectionery, all of which are displayed on good quality shelving along with a central carousal.
A single till area with tobacco display along with a parcel collection and drop off point is also available.
As of January 2016 the business delivered to approximately 300 homes on a daily basis generating £825 - £850.
There is no accommodation for either the owner or staff.
We are advised that the property is held on a 20 year lease which commenced in 2000. The annual rent is currently £17,500, however a rent review is currently underway with a proposed rent of £20,000 exclusive (correct as advised on 12.01.16). Rent reviews are at 5 yearly intervals.
We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.
An ideal opportunity for a first time buyer or existing operator to acquire this well established and well located traditional newsagents, with regular and loyal customer base along with genuine potential to expand the stock lines and increase income along with the overall profitability.
A viewing is highly recommended to fully appreciate the business opportunity and location in general.
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