3 bedroom convenience store for sale

Eastleigh, Hampshire

£150,000

Property Description

Commercial information

  • Business for sale
  • Use class orders: A1 Shops

Key features

  • Situated within popular residential area in Eastleigh
  • Part of purpose built shopping development
  • Well fitted and equipped premises
  • Sales 737,900 ex Vat, Gross Profit 182,542
  • Top performing Newsagent/Convenience Store
  • 3 bedroom self contained Flat, can be sub-let
  • Private car parking and garage
  • Current ownership approximately 25 years
  • Well known business, enjoys regular all year round trade
  • EM&F reference number: T33645P

Full description

Tenure: Leasehold

Description: A top performing newsagents/convenience store benefiting from being a National Lottery outlet but at the same does not currently retail alcohol, currently closing at 8.00pm offering further opportunities for new owners. Trading from purpose built premises, forming part of a shopping development with the benefit of a car park, within a popular residential area. Providing well fitted and equipped retail area, storage, office, kitchen and cloakroom facilities whilst above can be found a spacious 3 bedroom self-contained flat ideal for owner occupation or can be sublet which is currently the case generating rental income of £700 per month offsetting the overall rent payable considerably. Outside can be found private car parking and useful garage. Established and under current ownership a considerable number of years, the business is well known throughout the area ensuring a great deal of regular all year round trade.

Location: Forming part of a purpose built shopping development, at the time of our inspection nestled between a Fish & Chip shop and Funeral Directors, the shopping development benefits from a car park and pull over car parking ensuring easy access for customers with ample free unrestricted car parking on the surrounding streets. The business is highly visible, fronting Sandy Lane with bus stops adjacent, the area is host to an abundance of popular residential housing. Fair Oak is a semi-rural village on the outskirts of Eastleigh which lies approximately 4 miles away, the village lies in South Hampshire between the cities of Southampton and Winchester, both approximately 8 miles away, the village proves a popular place to live such is its accessibility, a short distance from the M27 and M3 motorway networks, Southampton International Airport and Eastleigh main line railway station.

Premises: Situated on a raised walkway with lower forecourt area, substantial wooden framed glazed single frontage, signage above, glazed entrance door opening to smart RETAIL AREA, tiled floor, fitted with air conditioning, LED fluorescent strip lighting, CCTV system and wall mounted raised storage cupboards. Presented and equipped to a high standard, initial small snack double sided sales gondola, triple deck ice cream conservator, approx. 4.75m remote dairy deck/drinks chiller with 3 sets of glazed energy saving doors, central double sided confectionery/convenience lines sales gondola. To one side, magazine display racking, newspaper and Lotto stands, to the other side, SERVE OVER COUNTER complete with 2 EPOS tills, Lotto machine, cigarette gantry and chemist lines display. To the rear of the retail area, pet and household adjustable display shelving, slat boarding coupled with peg display shelving, greetings card Perspex display shelving, 4 double greetings card display units incorporating storage drawers, 2 double sided sales gondola in respect of stationery items and pocket money toys, additional adjustable wall display shelving used in connection with seasonal items such as boxed chocolates and other confectionery items. Rear STORE with back door, fitted with counter, contains glazed front double upright milk chiller, glazed sliding top freezer, newspaper sorting table, metal storage racking and EPOS back office computer. Leading off is an OFFICE fitted with work counter and storage shelving, contains CCTV monitor, separate KITCHEN AREA fitted with stainless steel sink/draining unit, hot water heater over, provides access to the CLOAKROOM fitted with toilet. (None of the above appliances/systems have been tested and a purchaser must satisfy themselves as to the serviceability of these.)

Accommodation: Not available for inspection at our time of visit, currently let out on an Assured Shorthold Tenancy Agreement at a rate of £700 per calendar month. Totally self-contained, the subject of recent investment, accessed from the rear via external stairway leading to BALCONY AREA where the entrance to the flat is situated which comprises a LOUNGE, KITCHEN, 3 BEDROOMS, BATHROOM and a separate CLOAKROOM.

Outside: To the rear of the property, 2 PARKING SPACES and a GARAGE.

Vehicles: The business operates a 2016 Peugeot Bippa delivery van which is available to new owners through separate negotiation.

Business: Particularly long established, managed by the vendor prior to acquiring it in 1993, only now offered for sale in order to pursue retirement. Operating as a newsagents but also offering convenience items, retail lines include newspapers, magazines, confectionery, soft drinks, groceries, household items, cigarettes, ice creams, boxed chocolates, snacks, sandwiches, pasties, greetings cards, stationery, pocket money toys and party items such as banners and balloons. The business benefits from being a National Lottery outlet with weekly sales in the region of £3,000, additionally the delivery of newspapers is undertaken, proving lucrative, includes local hotels, the weekly newsbill approximately £2,500 with and additional £1,000 in vouchers. Such is the length of time established coupled with trading position strong regular local trade is enjoyed from the surrounding residential community and passers-by.

Trading Hours: The business trades Monday to Saturday 5.00am through to 8.00pm and Sunday 5.00am through to 6.00pm.

Staff: Operated by a husband and wife team with the assistance of 6 part time members of staff and newspaper delivery persons.

Takings: Trading performance is impressive, in respect of the financial year ended 31st January 2019 Sales amounted to £737,900 ex Vat which was in addition to flat rental income of £3,770 producing a combined Gross Profit of £182,542 equating to an excellent 25%. The business proves most profitable with Net Profits to owners in excess of £70,000 with further scope to increase through additional retail lines and opening hours.

Comments: The sale of Sandy News provides a rare opportunity to acquire a particularly long established profitable business, the first time on the market for a considerable number of years, new owners will benefit from a well fitted retail area together with spacious accommodation within a popular residential area.

Tenure: Held on a Lease, current rent £15,800 per annum, should new owners continue to let the flat then the net rent payable amounts to only £6,800 per annum.

Rates: Currently 'Nil' after 100% rate relief.

Price: £150,000 for the benefit of the Lease, Goodwill, Fixtures, Fittings & Equipment (according to inventory) plus stock and newspaper book debt at valuation.



More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Eastleigh (2.0 mi)
  • Hedge End (2.5 mi)
  • Southampton Airport Parkway (2.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 Local call rate

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

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Map & Street View

Nearest stations

  • Eastleigh (2.0 mi)
  • Hedge End (2.5 mi)
  • Southampton Airport Parkway (2.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 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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