Knightsbridge have successfully completed the £140,000 sale of this Teesside based newsagents.Generating a turnover in excess of £1,000,000 per year plus Lotto and Paypoint commissions, the business offers a range of traditional lines such as newspapers, confectionery and tobacco; the business also retails off sales and a limited line of grocery items. The PayPoint terminal drives additional footfall, whilst the Lotto terminal is the busiest independent site in the North East, and regularly one of the busiest in the UK.
The business is located in the centre of a town centre in Teesside, benefiting from exceptionally high levels of footfall throughout the day.
The business operates from a mid parade terrace property which is in excellent commercial order throughout.
Brought to the market as a retirement sale, the business was purchased by private buyer Mr Maxwell. Mr Maxwell intends to work in the business himself whilst also retaining the existing staff.
Sales Negotiator Cheryl hunt commented, “I would like to wish the best of luck and success to Mr Maxwell with his new business venture. I would also like to wish our clients, Ann and Peter, all the very best with their retirement plans.”
