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Hilton Smythe welcomes to the market The Newsbox, which is a long-established newsagent in the area, however, due to a genuine change in circumstance, our client is now looking to sell.
The newsagent has an impressive amount of newspaper rounds with a lot of clients including; The Bedford Lodge Hotel, which is the main hotel in the area and The Jockey Club, one of the main employers in the area.
The premises also has an alcohol licence and has a split of sales being approximately 30% newspapers, 30% tobacco and 25% alcohol. The remainder being on confectionery, soft drinks, crisps and food products.
The owner has also updated the shop with a new coffee machine and added extra lines of energy drinks etc to increase turnover.
There are many repeat customers, who are known by name and on race days the turnover often doubles.
Hilton Smythe highly advise early viewing to avoid disappointment.
The Newsbox is located next to the clocktower in the racing town of Newmarket, Suffolk, on the main shopping road with many other independent shops and larger chains, all of which bring in a high footfall.
The footfall increases dramatically on race days.
There is ample parking around the area, which includes road parking and car parks.
The shop which is located next to the clock tower, which is a meeting point for most people, especially on race days, is entered directly off the footpath on the High Street.
The shop has the service counter to the left, behind which is the tobacco gantry, spirits and till. To the front of the counter is the confectionery stand.
There is also an ice cream freezer, household goods shelving, 4 x display drinks fridges, 3 for soft drinks and 1 for alcohol.
There are magazine stands, newspaper stands, further confectionery shelves and a large Espresso Essential coffee machine. This is on a 3 year lease that commenced March 2018 and costs £60 per week.
There is also a TV screen and a CCTV system.
To the rear of the shop is a door to the first store room which is also the kitchen area with sink and kettle. From here is a door to the lobby which has a door to the rear, a door the hall way and a door to the cellar.
The cellar is in three sections and is ideal for storage.
The hallway has stairs leading to the flat on the first floor and a door to the front. This area has shelving for storage.
The flat has an entrance door at the top of the stairs and all the rooms off the hallway. The rooms include a lounge with a view to the clock tower, an office with the CCTV system and desk, two double bedrooms, a three piece bathroom suite and a kitchen with fitted units sink, cooker and fridge.
From the kitchen there is a door to the enclosed private balcony. The flat is owner’s accommodation only.
The flat has double glazing throughout.
We are advised the business is being sold as a leasehold business opportunity with a lease that commenced in 2009 with an annual rent of £13,000.
The business opening hours:
Monday - Saturday: 5am – 7pm
Sunday: 5am – 1pm
The business is run and managed by our client, with the help of 1 x part time and 1 x full time members of staff.
The Newsbox generated an advised turnover of circa £431,000 as of the 2017 accounts, with a gross profit of circa £68,000, a net profit of circa £6,300 and an adjusted net profit (EBITDA) of £24,254.
The assets being sold with the business are worth circa £10,000.
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