Shop for sale

High Street, Glynneath, SA11

Offers in Excess of £169,000

Property Description

Commercial information

  • Business for sale

Key features

  • Well established and highly lucrative Newsagents for sale
  • Over 30 years continuous trading
  • Excellent location in very busy area
  • Advised weekly takings of 4,800 with scope to increase

Full description

Tenure: Freehold

DESCRIPTION
Offers In Excess of 195,000

Fantastic opportunity to acquire a very well established and profitable business with a fantastic reputation within the local community.

Located in picturesque South Wales Valley town of Glynneath in a densely populated area, this small and profitable business has been serving the local community for over 30 years.

Situated in the Vale of Neath, some 20 mile North East of Wales's Second largest city Swansea, and lying on the river Neath, Glynneath is small town with a population of five thousand people. It is located on the fringe of the Brecon Beacons National Park, which is an area of outstanding natural beauty.

The area is rich with stunning waterfalls and rural walking trails, and is very popular with tourists and outdoor sports enthusiast alike. Glynneath lies on the A465, which is the main road leading to the National park, therefore the town receives a healthy amount of business from the tourism trade.

Located on a busy main road, Evans News Ltd is set in a prime location, where it benefits from a good passing trade of regular and fiercely loyal customers, as well as trade from the nearby schools. It is one of the main businesses that support this local community, which is reflected in its excellent reputation for providing quality goods and services at competitive prices. The shop is well known for having a very large greeting card and gift section, which attracts customers from the surrounding areas.

The Core Business Includes; birthday/anniversary/wedding merchandise such as banners, helium balloons and boxed gifts, as well as the more traditional products such as cigarettes, confectionary, soft drinks and ice cream. The current owner has recently introduced the sale of e-cigarettes due to popular demand, emphasising the business shrewdness of identifying market trends and their customer's needs and acting on them. We are advised that the mark-up on e-cigarettes are north of 100%.

The business has several delivery rounds that covers a majority of homes in the area and offers in store services such as Pay-Point, both of which generate a lot of foot traffic through the store, which leads to other impulse buys. We are advised that the Newspaper and Magazine profit is circa 2,500 per month.

The business has been established for and continually trading for over 30 years, and has been run by the current owner for the past 8 years. It is only now being offered for sale due to retirement. The shop benefits from its ideal location along with free parking on the road in which it located.

The shop also has a new dual computer operation and EPOS till system complete with 2 years up-front paid maintenance contract, which is included in the sale price.

The current turnover is approximately 4,800 per week however there is scope to vastly increase by including the sale of alcohol, extending opening hours and adding additional services if required.

There is a two bedroom flat above the trading area and a good sized rear garden complete with garage. There is ample room to extend the building and we are advised that planning permission would easily be obtained.

WEEKLY SALES
Currently shop sales average 4,800 approximately.

LOTTO
Weekly lottery sales approximate to 3,000

ACCOUNTS
Current records and accounts can be inspected when viewing.

TRADING HOURS
Monday 06:00 - 19:00
Tuesday 06:00 - 20:00
Wednesday 06:00 - 19:00
Thursday 06:00 - 19:00
Friday 06:00 - 20:00
Saturday 06:00 - 20:00
Sunday 07:00 - 17:00

STAFF
Managed by the owners with full/part time staff.

PROPERTY
End terrace double fronted property with two bedroom flat above. Prominent position on very busy main road with free parking. Large rear garden with garage and rear access. Development opportunity.
We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.
***IMPORTANT PMA PARAGRAPH REGARDING PLANNING PERMISSION***

TRADING AREAS
The sales area is decorated to a very high standard and very well stocked. Modern fixture and fittings provide a very welcoming environment and there is full CCTV coverage. The shop is light and airy and extremely well kept. There are cold storage units, a large confectionery counter, a magazine section, and each wall space has been utilised to the utmost with impressive displays of the various goods available to purchase. Office room, Kitchen and bathroom located to the rear of the shop.

RESIDENTIAL ACCOMMODATION
2 bedroom flat locate above the trading area comprising of:- Lounge/kitchen/bedroom area, smaller second bedroom and bathroom with shower. There is a very spacious attic which could be converted to an additional room if required. Access to the flat is via the trading area.

TENURE
We are advised that the property is freehold.

SUMMARY
Genuine opportunity to acquire an already successful business within a lovely local community. Scope to increase turnover. Fantastic opportunity for the right person. Viewing highly recommended.

SHARE SALE
The business is owned by a limited company and so it is anticipated that this sale will be by way of a share sale of 100% of the issued capital of the company. The sale price quoted above is based on the assumption that:

a) the assets, liabilities and net assets of the company will be approximately the same as in the most recently published balance sheet. Any rise or fall in the net assets since publication will be in addition to the agreed sale price.

b) on or before completion, the vendor will have withdrawn all cash from the company and paid off all bank debts and any money owed to the Inland Revenue, but not any normal trade creditors.

c) the quoted sale price does not include the stock in the business, the value of which, following a stock-take, will be added to the agreed sale price.

d) the vendor will collect all debtors and pay off all creditors of the company on or before completion, after which any credit balance (including any amount for stock) will be added to the agreed sale price.
Most common used :
e) on or before completion, the vendor will have withdrawn all cash from the company and paid off all bank debts and any money owed to the Inland Revenue, but not any trade creditors; the quoted sale price does not include the stock in the business, the value of which, following a stock-take, will be added to the agreed sale price.

f) the quoted sale price does not include the net assets of the company, so the final price will therefore need to be increased by an amount equivalent to their value on completion.

More information from this agent

Energy Performance Certificates (EPCs)

Nearest station

  • Treherbert (6.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Kings Business Transfer, 7b Edward Vii Quay, Navigation Way, Ashton-On-Ribble, Preston, PR2 2YF

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Treherbert (6.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Kings Business Transfer, 7b Edward Vii Quay, Navigation Way, Ashton-On-Ribble, Preston, PR2 2YF

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 42490. 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.

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