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Retail premises for sale

£44,995

246 Wragby Road, Lincoln LN2

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Property description

Business
Hilton Smythe is delighted to welcome to the market this well-established and busy Newsagent business, which is ideally located in Lincoln, Lincolnshire.

The business was originally established in 1970 and has been in our client’s careful ownership since 2007. Only now is the business being offered to the market due to our client’s desire for a well-deserved retirement. The business currently operates 6½ days per week and generates a turnover in the region of £288,400 per annum, with a gross profit of approximately 20%.

Our client offers a variety of goods including newspapers and magazines, greeting cards, confectionery, soft drinks, ice cream and tobacco products. Our client also offers 8 newspaper delivery rounds within the area and has accounts with Lincoln Prison, local hotels and care homes. The property boasts 32 sq. Metres of floor space, is very well maintained and very well fitted out to suit the trade. The property was fully re-fitted 7 years ago.

A brand new Epos system has been recently installed.

The business has built up an excellent opportunity within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel the turnover could be increased by extending the opening hours. The business is currently manager run and a new hands-on owner would reduce staffing costs substantially. A new owner could also embark on a modest marketing campaign to promote the goods and services offered.

This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already busy business to the next level; therefore, early viewing must come highly recommended to avoid disappointment.

Location
Wragby Road News occupies substantial ground floor premises, ideally located within the city of Lincoln, Lincolnshire. The business is surrounded by many commercial properties and densely populated residential areas, from which the business derives much of its trade. The newsagent’s benefits from a very high volume of footfall and passing trade, as well as good car parking facilities to the front of the premises and public car parks within the area.

Lincoln is a cathedral city and the county town of Lincolnshire. According to the 2011 census, the city had a residential population of 130,200. The city is a popular tourist destination with numerous historic buildings including the cathedral, the castle and the Medieval Bishop’s Palace. Other attractions include the Museum of Lincolnshire Life.

The area of the business is very well served by the public transport system, with several bus stops within easy walking distance of the property. Lincoln railway station is approximately 2 miles away in the city centre. The area is also well served by the a-roads, with the business being located on the A15, which links to the national a-road and motorway networks.
Premises
Substantial ground floor premises in an ideal trading location, briefly comprising:

Newspaper and magazine display racking.

Ice cream freezer.

Double door chiller unit.

Single door chiller unit.

3 x greeting card display stands with drawers.

Perimeter shelving.

Serve over counter with epos cash register.

Confectionery displays.

National Lottery scratch card stand.

Tobacco gantry.

Hot drinks machine.

D.P.D. Parcel account.

Payzone bill payments.

Office/store room:

Desk & chair.

Storage shelving.

External:

On-street parking to front.
Tenure
We are advised Leasehold:

Original lease length: 5 years as of Feb 2017.
Hours
The business is open:

Monday – Saturday 5.00am – 4.00pm

Sunday: 6.00am – 12.00pm
staff
The business is currently manager run with 2 x part time staff members and 8 x delivery persons.
Financial profile
The business generates a turnover in the region of £288,400 per annum, with a gross profit of approximately 20%.

What Zoopla users think of Lincoln

Overall rating:

  • currently 4 stars
Very good - 79% (207 ratings)

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Nearby transport

  • Lincoln (1.5 miles)
  • Hykeham (4.7 miles)
  • Saxilby (6.5 miles)
  • Humberside Airport (24.0 miles)
  • Robin Hood Airport (25.9 miles)
  • East Midlands Airport (44.2 miles)
  • Hull Ferry Terminal (36.1 miles)
  • West Lynn Ferry Landing (50.4 miles)
  • King's Lynn Ferry Landing (50.5 miles)

Nearby schools

View all schools in Lincoln
  • St Giles Academy (0.2 miles)
  • Our Lady of Lincoln Catholic Primary School (0.7 miles)
  • Lincoln Carlton Academy (0.8 miles)
  • Lincoln College (1.0 mile)
  • Lincoln UTC (1.0 mile)
  • Broughton House College (12.6 miles)
  • Lincoln Christ's Hospital School (0.3 miles)
  • Lincoln Minster School (0.8 miles)
  • Lincoln Castle Academy (1.1 miles)
Note: Distances are straight line measurements

Local info for Lincoln

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For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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