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Retail Property (high street) for sale

125 Fawcett Road - PO4

£15,000

Property Description

Commercial information

  • Business for sale

Key features

  • Traditional newsagents with potential to convert to convenience store
  • Ideal for first time buyer
  • Busy high street location
  • Retirement sale

Full description

Tenure: Leasehold

Description
Daily News is located in the coastal town of Southsea, Hampshire which is a popular town for students at Southsea and Portsmouth University along with the coast close by and Portsmouth to the north which attracts many tourists throughout the year, especially during the summer months using Portsmouth and Southampton harbours.

We have been advised that Daily News has been trading from the same spot for many years and has been under the same ownership since 1984/1985 when our client purchased the business. The business operates from a mid terraced period property on a busy main road among other independent retailers and national chains and approx. 1.2 miles from Portsmouth and Southsea train station.

The area in general is very busy throughout the day with plenty of students and general passing trade. The purchase of Daily News is an ideal opportunity for an energetic family to run what has been a profitable business over recent years and is only being offered for sale due to ill health.



Sales
We have been advised that up until January 2017, shop sales averaged £3,000 to £3,500 per week and in our opinion income would be back to that level under new ownership along with a shop refit and additional stock lines with opening hours to suit.

Trading Hours
Historic Hours Monday to Sunday 08:00 — 21:00.
Current hours are reduced and no set times are in place.



Staff
Run by the owner’s family members only

Building External
Mid terraced property occupying a prime position on a busy main road among other independent retailers and national chains.


Building Internal
Daily News offers a compact ground floor retail space and stocks a limited selection of everyday goods through choice along with greeting cards, newspapers, magazines and confectionary.

Residential
There is no accommodation for staff or owners.



Tenure
We are advised that the property is held on an original 25 year lease which commenced in 1985 when the current owner’s purchased the business. A new lease is available on change of ownership (subject to landlord approval) with the full terms to be agreed. The current rent is £333.00 per calendar month (correct as of 28.04.17). Rent reviews are and new annual rent are to be agreed.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.



Summary
An ideal opportunity to purchase a well established family business with a regular and loyal customer base situated within a popular Hampshire town close to the sea.

A viewing is highly recommended to fully appreciate the business opportunity and the area in general


Map & Street View

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