Shop for sale

Portsmouth, Hampshire, , PO2

£80,000

Property Description

Commercial information

  • Business for sale

Key features

  • Ref:B05196
  • Leasehold

Full description

Business

Hilton Smythe are delighted to present to the market Reeds News, a busy community Newsagents with over 25 years of goodwill. Our clients purchased the business 15 years ago and due to family reasons, they are now having to relocate to London which is now forcing the sale.


There will be a new and very attractive lease available with the business which also includes the potential to extend the shop at the rear. The business benefits from 0 rates paid in the current year.


The business offers -



  • Large range of Magazines, newspapers and greeting cards

  • Crisps, confectionery, bagged sweets, ice cream

  • Cold drinks, grocery items and pharmacy goods

  • Very large selection of wines, beers and spirits

  • Cigarettes, vaping fluids and papers

  • Lottery, Paypoint and parcel collection

  • Western union money transfer, mobile phone top up


Sales are split £6-7,000 retail, £15,000 Paypoint transactions, £3,000 lottery transactions.


The business attracts a very loyal customer base of residents, shoppers and retail workers.


There is opportunity to re model the shop and extend the retail space to the rear of the unit, extending the hot food to go and grocery lines could add extra sales as well as adding more mobile phone accessories or repairs.


Early viewing is recommended.



Business
Hilton Smythe are delighted to present to the market Reeds News, a busy community Newsagents with over 25 years of goodwill. Our clients purchased the business 15 years ago and due to family reasons, they are now having to relocate to London which is now forcing the sale.
There will be a new and very attractive lease available with the business which also includes the potential to extend the shop at the rear. The business benefits from 0 rates paid in the current year.
The business offers -
  • Large range of Magazines, newspapers and greeting cards
  • Crisps, confectionery, bagged sweets, ice cream
  • Cold drinks, grocery items and pharmacy goods
  • Very large selection of wines, beers and spirits
  • Cigarettes, vaping fluids and papers
  • Lottery, Paypoint and parcel collection
  • Western union money transfer, mobile phone top up

Sales are split £6-7,000 retail, £15,000 Paypoint transactions, £3,000 lottery transactions.
The business attracts a very loyal customer base of residents, shoppers and retail workers.
There is opportunity to re model the shop and extend the retail space to the rear of the unit, extending the hot food to go and grocery lines could add extra sales as well as adding more mobile phone accessories or repairs.
Early viewing is recommended.

Location
Reed News occupies a highly enviable central trading position on London Road in Portsmouth, Hampshire.
The business sits along the areas main shopping High Street which includes many independent retailers and cafes, major High Street banks and building societies as well busy betting shops, pharmacies and supermarkets such as Iceland, Aldi.
There is also a popular junior school Isambard Brunel junior school within walking distance of the shop.
The High Street is accessed just off the busy M275 link rows which connects commuters to both the centre of Portsmouth and to the nearby M27/A27 cross country motorway.
Portsmouth is a thriving port City and naval base on the South coast, mostly spread across Portsea Island. It is known for its maritime heritage and historic dockyard.
The business benefits from 2 x nearby pay and display customer car parks.

Premises
Ground floor - 2 triple width open chillers, double width glass fronted chiller, newspaper stand, magazine display unit, crisp stand, grocery display shelving, ice cream freezer, confectionery shelving, very large open alcohol chiller, wine shelving.
There are 16 x cameras throughout.
Service counter - 2 x epos till points, lottery machine, Paypoint machine, card machine, storage shelving, cigarette gantry, large area for spirits, vaping fluid stand.
Rear stockroom / kitchen area.
Staff toilet.
Access to private yard and bin storage area.

Tenure
A new 10 year lease will be made available to any new buyer paying £13.000 per year.

Hours
MONDAY TO SATURDAY - 5am to 10 pm
SUNDAY - 8am to 5pm

Staff
The business is run and managed by our 2 clients only.

Financial Profile
The business generated an annual Turnover as of the 2017 accounts of £435,063, with a gross profit of £62,541 and adjusted net of £35,000


Nearest stations

  • Portsmouth & Southsea (1.2 mi)
  • Fratton (1.3 mi)
  • Hilsea (1.3 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 stations

  • Portsmouth & Southsea (1.2 mi)
  • Fratton (1.3 mi)
  • Hilsea (1.3 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.

Disclaimer - Property reference B05196. 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 Hilton Smythe, Bolton . 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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