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Convenience Store for sale

Carlton Lanes Shopping Centre, Castleford, West Yorkshire, WF10

Leasehold 20 sq. m. | £89,950

Property Description

Commercial information

  • Business for sale
  • 215 sq ft (20 sq m)

Key features

  • REF 12341
  • LEASEHOLD BUSINESS
  • NEWSAGENTS

Full description

Tenure: Leasehold

LOCATION
K & A Rutter Ltd is located in Castleford, West Yorkshire.

The business is situated within the Carlton Lanes shopping centre. This is a large centre with a varied range of retail outlets. The store receives a high amount of footfall due to this location. The town centre has main retail chains such as Argos, Boots, EE, Marks & Spencer's, New Look and many more. There is also an abundance of independent stores.

The shopping centre is located in the centre of Castelford. This is a busy town that is just a short drive away from Leeds. The area boasts great road links and generous public transport. The M62 and the A1 motorways are just 5 minutes from the business. This is a great location for commuting to major towns and cities in the UK.

There are many bus stops dotted around the town and a train station just a short walk from the store.

BUSINESS
Hilton Smythe is delighted to welcome to the market K & A Rutter Ltd. The business was originally established on this site in the 1900's. Our clients first took over the store in 1996 and are now looking to sell the business due to the desire to take a well-deserved retirement.

The business runs as the largest newsagents in the town centre of Castleford. They sell newspapers, magazines, confectionary, cigarettes and more. Other product lines include A-Z maps and books, these items are always requested. New lines could be introduced.

This is a well-known business in the town that benefits from repeat loyal trade. The local library and brewery have accounts with the store for regular collections. The newsagents also sells a large amount of magazines from around 155 customers, with regular magazine orders of 364 between them.

We are advised the current turnover for the business is an advised 400,000 per annum with a gross profit of 13% as per 2015 accounts, plus Lottery sales. This is a healthy turnover however we feel this could be increased in several ways. One way would be to offer a Payzone, this is a great service that guarantees an extra income.

The new owner should also look to open on Sundays. This is a great trading day as the town receives trade from many shoppers.

We are advised the business is in the top 10 nationally for the sale of Lottery in small independent stores. The business is currently generating 11,000 per week from Lottery sales alone which is a great asset to the business.

Our clients have run this store to a high standard and so this would make a fantastic opportunity for any experienced buyer, looking for a bolt-on or first time purchase. Hilton Smythe highly advise early viewing to avoid disappointment.

PREMISES
The business boasts a large open fronted premise within a shopping centre. The store is well signed with a great display. The service area is located in the centre of the store with a clear view of all stock. Behind the counter is a cigarette gantry.

Equipment includes-
Counter
2 x Till
Magazine racks
Display stands
Newspaper racks
Lottery terminal
Card display
Shelving
2 x Fridges
Cooler

Through to the rear of the store is a storage area. The shop is secured by shutters, security is also provided by the shopping centre.

The shop has shared facilities with the market and also comes with access to the manager's suite facilities; which is nearby.

TENURE
We are advised the business is Leasehold.
Original lease length: 99 years
Left on the lease as of 2016: 59 years
Rent: 177 per week

HOURS
The business is open-

Monday - Saturday: 6:30am - 5pm
Sunday: Closed

STAFF
The business is run and managed by our clients with the help of 2 part time members of staff.

FINANCIAL PROFILE
The business generates a turnover in the region of 400,000 per annum with a gross profit of around 13% as per 2015 accounts.

Lottery turnover 11,000 per week.
News sheets 3,000 per week.


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