Commercial property for sale in Northampton

DescriptionA retailer couldn’t really ask to be positioned in a more prominent spot as far as foot fall is concerned. This really is a convenience store, it lends itself well to consumers who are on the go, whereby they can pop in to grab something whilst on their travels, as opposed to purchasing groceries for the family home. The store currently achieves just over £20,000 per week, offering services such as Lottery & Evri. However, the store doesn't currently operate PayPoint or PayZone, so this may offer an opportunity to further increase your turnover/profit. LocationThis corner plot unit is not only at the heart of Northampton City Centre, it also sits on the main entrance into Market Square which sees in daily market traders who bring in with them their own consumers from Tuesday – Saturday. Northampton’s Market Square is one of the oldest markets in the UK and has just recently been involved in a multi-million-pound regeneration programme which has seen much of the immediate area become pedestrianised and completely refurbished. The immediate area is full of many other businesses that I should expect bring in a great deal of trade to the store from their staff members. Some of the other businesses nearby include Skipton Building Society, cinema, banqueting & events hall, a range of residential estate agents, beauty salons, recruitment agencies and cafes. Internal DetailsThe leasehold covers three floors within the headlease: Basement (372 sqft): Kitchen Area, Management Office, Storage & Washroom Facilities. Ground Floor (526 sqft): Shop Floor, Cash Desk, Storage & Access to Basement. First Floor (199 sqft): Currently let under a sub-lease with a rental of £7,000 per annum. Ground FloorThe trading floor space is 450 sqft meaning the store doesn’t have the capacity to hold vast amounts of stock on the shop floor or offer a large variety of products. The current operators being here for so long, have come to learn that their consumers tend to have the same purchasing habits and so have maximised on their key products, such as tobacco, vapes, confectionary, hot & cold drinks, lottery etc etc. The store examples this by having a wide variety of vapes and tobacco, a 5 metre open display refrigerator rather than the usual 3 metre to display a wider variation, and half of a three quarter high display shelving unit being dedicated to household goods, such as toilet roll, washing up liquid etc. There is also CCTV on the shop floor from a number of angles. Other FloorsOn the lower ground level which is accessed via a staircase found in the small store room to the back of the store is the managers office. This is combined with the staff room, kitchen and the washroom facilities. There is also racking fitted in one section with this being dedicated as your main store room and is where you'd hold the majority of your stock following on from taking a delivery with incoming stock replenishment. All of the stores electrical mains, fuse boxes and breakers etc can be found here. Fixtures & FittingsAll fixtures and fittings will be listed and presented to you before an exchange of contract in a detailed inventory. External DetailsExternally, the property sits back from the road against a pedestrianised area at the entrance to Northampton’s market stalls. There is on street parking available in the respective parking bays, which are managed by the local authority and require drivers to pay and display. The exterior to the building is under a preservation order due to its architecture, so any changes to the outside of the store could be subject to planning permission from the local authority. Access to the first floor has now been fully segregated from the convenience store so that it now has its own entrance to the first floor barbers as a part of the under lease. There is also a block of flats that sit directly above the store, all of which appear to be tenanted. Other PropertyNo residential accommodation is included. This is a single lock up unit with a sub-lease to the first floor which is currently occupied by a Barber Shop currently paying Market Square News an annual rental income of £7,000 per annum. The OpportunityServing as their family business for the past three generations, this quaint newsagent, isn’t being sold with ease as the current operator has spent more than 25 years at the helm. Market Square Newsagents offers an excellent opportunity for either a first-time retailer to purchase an ideal first-time business, or for an experienced operator who is looking to add to their existing portfolio. The store is a compact, easy to maintain, lock up unit and offers an interested buyer the opportunity to increase turnover simply just by extending the hours of trade. StaffThe store does currently employ three members of staff. Trading InformationTurnover: £1,056,877 Expenses: £73,867 Stock & Wages/Salaries: £908,108 Gross Profit: £146,769 Net Profit: £73,117 Adjusted Net Profit: £100,077 Trading HoursThe current trading hours for this newsagents are: Mon – Sat: 07:00 until 19:30 Sun: 09:00 until 17:00 The store can trade later than this, so there is the potential to increase turnover based solely on the fact the new owner can increase the existing trading hours. TenureAvailable on Leasehold only. TenancyDetails of Lease Terms: Term: 25 Years Lease Commenced: 13.05.2016 Rent: £30,000 Per Annum Rental Reviews: 5 Yearly Lease Remaining Approx: 6 Years Business RatesThe Business Rates for this unit is £14,250, as per the government website: Energy Performance Certificates EPC 1

Commercial property for sale in Northampton, England

Convenience store for sale

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