Corner shop in the heart of Northampton, run by three generations of the same family for 25 years, goes up for sale for over a quarter of a million
An independent corner shop in the heart of Northampton, run by three generations of the same family, is up for sale at £275,000 – here’s how much the new owner could make a year.
Market Square News, located in Mercers Row and on the corner of the Market Square, is looking for a new owner after being run by the same family for 25 years.
The sales advert reads: “Serving 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 looking to add to their existing portfolio.”
According to Christie & Co Retail estate agents, the store has a turnover of £1,056,900, a gross profit of £74,900, a net profit of £73,100, and an adjusted net profit of £100,100.
The business is located in a prime spot, with the Market Square recently refurbished by West Northamptonshire Council for £12.5 million. The advert suggests that, along with other businesses in the area, this could bring a "great deal of trade" to the store.
The estate agents said: “A retailer couldn’t really ask to be positioned in a more prominent spot as far as footfall is concerned. This really is a convenience store, it lends itself well to consumers who are on the go. The current operators 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, confectionery, hot and cold drinks, lottery, etc.”
The business is available on leasehold, with an annual rent of £30,000. According to the sales advert, the store believes it could make more profit by extending trading hours.
The shop has been contacted for comment.