Convenience Store for sale

Palmers Papers, 87 Bulford Road, Salisbury, Wiltshire, SP4 8HA

Guide Price £99,000

Property Description

Commercial information

  • Business for sale

Key features

  • Established store in village centre
  • Y/E 31/03/17: GP 146,799, ANP 79,615
  • Core weekly sales over 10,000
  • Potential to increase opening hours
  • Extremely low rent of just 5,500 per year
  • Energy Rating C

Full description

Tenure: Leasehold

Description

Palmers Papers offers many traditional newsagency services including a large and highly profitable newsround (c.500 papers per day), with an average weekly news bill of £4,800.

The store also sells a wide range of convenience, off licence and stationery products. The gross profit margin is in excess of 25% and the overall profitability of the store is excellent.

Location

Durrington is a large village c.10 miles north of Salisbury in the county of Wiltshire.

Palmers Papers is extremely well placed in the heart of the village in a small shopping parade and has been established for over 30 years.

According to the 2011 census, the population of Durrington was 7,379 and this is likely to have increased due to the number of large housing developments in the immediate vicinity, as well as the anticipated influx of military personnel returning from Germany.

Internal Details

The lock-up store is well laid out with a wide range of shelving, display and refrigeration units. Beyond the retail sales area is a store room and toilet.

The store could benefit from modest updating and refreshing of the internal décor.

Fixtures & Fittings

The vast majority of the fixtures and fittings are owned outright and will be included in the sale.

The Opportunity

This highly profitable store represents an excellent opportunity for a new owner. It is currently trading independently and as such, there is considerable opportunity to increase trade by entering a supply agreement with one of the Symbol groups.

Retirement sale of a stable and established business.

Opportunity to increase trading hours to capitalise on early evening trade, especially as the store is located next to a takeaway.

Staff

The store is currently run by a husband and wife team with the assistance of newspaper delivery staff.

There are three part time staff (c.30 hours per week), giving rise to the opportunity for a new operator to further boost profitability if these hours were reduced. Alternatively, a new owner could enjoy a pleasant lifestyle if they keep the existing staff and the relatively short opening hours (the store currently closes at 6.30pm).

Trading Information

The business performance over the last three years shows a highly established and consistent business with excellent profitability.

The accounts for the year ending 31/03/17 show a turnover of £531,937 from core sales (core weekly sales of £10,229). The gross profit including commissions is £146,799 and the adjusted net profit is £79,615.

Trading Hours

Monday-Saturday: 5am-6.30pm
Sunday: 5am-1pm

Business Rates

The business currently benefits from 100% business rates relief.

Regulatory

Premises Licence.


More information from this agent

Nearest station

  • Grateley (7.0 mi)
Distances are straight line measurements from centre of postcode

Floorplans

Map & Street View

Nearest station

  • Grateley (7.0 mi)
Distances are straight line measurements from centre of postcode

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