Shop for sale

Michael Street, Isle Of Man, IM5

£360,000

Property Description

Commercial information

  • Business for sale

Key features

  • NEWSAGENTS
  • REF 12737

Full description

Tenure: Freehold

LOCATION
Peel News Centre is located in Peel, Isle of Man.

The business is situated in the heart of Peel town centre. This is a bustling town with a plethora of retail outlets. The town centre receives a generous amount of trade and benefits from heavy footfall. Within close proximity of the store is a café, pharmacy, clothing stores, shoe shops, pubs and much more.

Peel is a popular tourist location that has many attractions, such as Peel Castle, Leece Museum, House of Manannan, beautiful beaches and a long coast line. The town sees thousands of visitors each year, with an increase in the warmer summer months.

The town centre location allows for great public transport and excellent road connections. There are several bus stops close by, these have regular routes around the Isle of Man. The business is just a short 5 minute drive from the A4, which is an arterial road that runs up the coast.

BUSINESS
Hilton Smythe welcomes to the market Peel News Centre. The business was originally established in this location in the 1900's. Our client's then took the store over in 1991 and have thoroughly enjoyed running this successful newsagents. The owners are now looking to sell the business due to the desire to take a well-deserved retirement.

This is a long-established popular newsagents, that offers an excellent selection of products. They stock newspapers, magazines, confectionery, greetings cards, stationery, toys, cigarettes, hot pies, National Lottery, scratch cards and much more. This is a popular town centre store that receives a generous amount of trade.

The store generates an advised turnover of around £237,000 per annum, with a gross profit of 16%, as of 2016 accounts. Our clients are currently running the business at a steady pace due to winding down for retirement. The business could benefit from a hands on new owner who could open the store for longer hours. The sale of alcohol could also boost income.

Included in the sale is the owner's accommodation, which is situated above the store. This is a four bedroomed accommodation, perfect for a family looking to relocate to this area. This space also comes with the option of being let out if not required by the new owners; this could generate an extra monthly income.

This is a fantastic opportunity for a first time purchaser looking for a town centre newsagents in the Isle of Man. Hilton Smythe highly advise early viewing to take in the full potential of this Freehold opportunity.

PREMISES
The business boasts a double fronted shop with a large open plan shop space. The property is well signed and clearly visible to passing trade. Across the front are windows which allow for a bright and airy retail space.

Inside there is a large counter to the right hand side. There is perimeter shelving around the store and central shelving in the centre of the store. Through to the rear of property is a huge stock area.

There is a set of stairs leading from the rear stock room, to the first floor owner's accommodation. On the first floor there is a kitchen, dining room, 2x large lounge's, an office and a long hallway.

On the second floor there are, four double bedrooms and a bathroom.

The property has a burglar alarm, and benefits from having a large back garden with access to kitchen on the first floor.

Equipment included in the sale is as follows-
Counter
Shelving
Racks
Magazine shelving
Pie warmer
Coffee machine
Cigarette gantry
Lottery terminal

TENURE
We are advised the business is being sold as a Freehold opportunity.

HOURS
The business opening hours-

Monday - Saturday: 7:30am - 6pm
Sunday: 7:30am - 2pm

STAFF
The business is run and managed by our clients, with the help of four part time members of staff.

FINANCIAL PROFILE
The business generates a turnover in the region of £237,000 per annum.
Gross profit 16%, as of 2016 accounts.


Nearest station

  • Nethertown (51.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299002 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

  • Nethertown (51.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299002 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.

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