This property has been removed by the agent. It may be sold or temporarily removed from the market

View similar properties

Shop for sale

Snakes Lane, Woodford Green, Essex, IG8

Guide Price £69,000

Property Description

Commercial information

  • Business for sale

Key features

  • Traditional newsagents close to underground station
  • Weekly retail takings aproximately £5,500
  • Densely populated and affluent residential area
  • Viewing highly recommended

Full description

Tenure: Leasehold

DESCRIPTION
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.

SHOP SALES
Current shop sales average £5,500 per week in retail sales.

LOTTO
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.

ACCOUNTS
Year end accounts and current records can be inspected when viewing.

TRADING HOURS
Monday - Saturday 06:00 - 17:30
Sunday and Bank Holidays 06:00 - 12:00

STAFF
The business is operated and managed by both owners on a daily basis. Additional staff are used for the 10 paper rounds.

PROPERTY
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.

TRADING AREAS
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.

PAPER ROUNDS
As of January 2016 the business delivered to approximately 300 homes on a daily basis generating £825 - £850.

RESIDENTIAL ACCOMMODATION
There is no accommodation for either the owner or staff.

TENURE
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.

SUMMARY
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.

More information from this agent

Map & Street View

Disclaimer - Property reference 44359. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by ALTIUS GROUP LIMITED, Kings. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.