Buckley’s Newsagent is the ground floor trading unit of an attractive multi-storey property. The owner currently trades as a newsagent as well as providing post office services. This flexible retail unit is located centrally on Lossiemouth’s Queen Street.
The street level internal aspects are mainly open plan and are well-appointed throughout. The property and business are being sold as a going concern. The building has an excellent and flexible sales area, extending to circa 64m².
REASON FOR SALE - The vendor has owned Buckley’s Newsagent for a little over 20 years. It is his desire to retire that brings this excellent business to the market.
TRADE - The business has a solid year-round trade with peak trading in the holiday season when it benefits from the influx of tourists to the area. A high level of passing trade further enhances turnover. During the winter months, the business continues to enjoy a solid level of income derived from the support of recurring local trade. The business generates a consistent profit level but could be operated to a higher level by extending opening hours and considering some inward re-organisation to maximise returns. The shop and post are currently run by the owner with one part-time employee. The shop operates from 07:00 until 12:00 Mon to Sat and 08:00 until 10:30 on Sun, with the post office running from 9:00 until 12:00 Mon to Wed. Post office hours are limited by the availability of an appropriately trained employee.
Merchandise includes drinks, sweets, newspapers, stationery and magazines. The present trading configuration makes it an easy-to-operate business and provides scope to adjust the range of goods and services should new owners wish to do so. Internally, all areas are easily accessible with all sales areas being intelligently laid out utilising a modern range of shelving units and display stands. The sales counter is situated to the rear of the unit affording excellent visual control of the shop. The business benefits from a fully operational and maintained EPOS system. The present owner operates a morning home delivery newspaper service of which there are 6. Local school pupils are used to do the deliveries. The owner also has a number of lucrative contracts to delivery papers locally.
An ATM is in place and is owned by the Post Office, with rates being paid by the owner. The income generated is as a percentage of the withdrawals. This is the only ATM in the center of Lossiemouth and as such, enjoys a significant level of withdrawals.
Location
Buckley’s Newsagent is situated in the centre of Lossiemouth and within a few minutes’ walk of the harbour and the East Beach. Lossiemouth sits on the North East Coast of Scotland on the Moray Firth and is renowned for its mild climate due to the Gulf Stream air. The town is known as ‘The Jewel of the Moray Firth’ and has a population of around 7,000 which expands greatly during the warmer months with the influx of holiday makers. The town is only 5.5 miles from Elgin with a population of around 24,000. Lossiemouth benefits from 2 excellent golden sand beaches and beautiful surrounding countryside attracting both locals and visitors during the fine weather. The town has a spectacular marina and an excellent array of tourist facilities. Lossiemouth Golf Course is a Championship links course. RAF Lossiemouth is situated adjacent to the town and generates significant income to the local economy. Social amenities and welfare provision within the town are of a high level and full details can be found on www.lossiemouth.org.
Accommodation
THE PROPERTY - Buckley’s Newsagent is part of an attractive stone building with a slate roof and is centrally located on Queen Street, one of Lossiemouth’s main retail streets, The inviting shop frontage is fully glazed with a large, picture window frontage, enjoying natural lighting and a clear line of sight from the pavement into the shop interior. The current owner has installed an ATM in the left-hand window which adds to the business income whilst taking up little room internally. The sales area is rectangular in shape, with a counter to the rear of the sales area. The stores and welfare area sit behind that. The welfare area benefits from natural light and overlooks the gardens of the adjacent properties behind. This area consists of a toilet, tea prep and storage area. It should be noted that there is a provision within the title deeds for maintenance access. All the owners of the building employ a factor who organises any external works, recently there was work undertaken to the east side guttering.
In addition to the shop retail area there is a WC, store and office, all located to the rear of the unit. The subjects are split into two sections; the main retail area (extending to about 38m²) and back of house and counter areas (extending to around 26m²). The property is on the ground floor only and has level access from the street. There is an under-stair cupboard with excess shelves.
Terms
SERVICES - The unit benefits from mains electricity, water and drainage. The unit is equipped with a security system and CCTV, via the post office.
PRICE - Offers over £135,000 are invited for the freehold interest complete with goodwill and trade contents (according to inventory). Stock at valuation.
EPC RATING - This property has an Energy Performance Rating of ‘TBC’.
RATES / COUNCIL TAX - The property has a business rateable value of £5,000 reference number VR25023 (April 2023) but benefits from a 100% discount under the Small Business Bonus Scheme with a net Liability of £zero for eligible businesses.
Specification
- Attractive retail unit extending to around 64m².
- Prominent frontage with large display window.
- Located on a busy pedestrian route in the centre of Lossiemouth.
- Ideally located opportunity to own a profitable newsagent and post office.
- Opportunity to further develop trading levels and profitability.