Hilton Smythe is delighted to welcome to the market this well-established and very popular electrical wholesale business, ideally located within the market town of North Walsham in Norfolk.
The business was established by our client in 1989 and is only now being offered to the market due to our clients' desire for a well-deserved retirement. The business operates 5½ days per week and has seen year on year growth, generating a turnover in the region of £220,000 as per 2016 accounts, with a gross profit of approximately 45%.
Our clients offer a wide variety of goods including showers, heaters, fans, lighting, intruder alarms, power tools, hand tools and electrical cables, to name a few, as well as spare parts and accessories. This is the only business of its type within the area, the nearest is in the towns of Norwich, Yarmouth or Kings Lynn.
The property boasts approximately an ¼ acre site and is very well fitted to suit the trade and we are advised there is the potential to purchase another ¼ of an acre land for expansion and by separate negotiation.
The business has built up an enviable reputation 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 there is scope to increase the turnover by extending the opening hour, perhaps by opening longer on Saturdays and offering Sunday trading. A new owner could also embark on a modest marketing campaign to highlight the excellent goods and services offered. The business would also benefit from the launch of a website to advertise the goods, which could offer online ordering facilities.
This is an excellent opportunity for a new owner to take this already thriving business to the next level; therefore early viewing must come highly recommended to avoid disappointment.
TENUREWe are advised Freehold.
HOURSThe business is open:
Monday - Friday: 9.00am - 6.00pm
Saturday: 9.00am - 1.00pm
STAFFThe business is owner run and managed by husband and wife team.
FINANCIAL PROFILEThe business generates a turnover in the region of £220,000 as per 2016 accounts, with a gross profit of approximately 45%.
North Walsham Electrical Wholesale occupies a substantial purpose built unit, approximately ¼ of an acre site, ideally located on the outskirts of the town of North Walsham, Norfolk. The business is situated on a large industrial estate and is surrounded by complimentary businesses. The electrical wholesale business benefits from a good volume of footfall and passing trade, as well as car parking facilities to the front of the premises.
North Walsham is a market town and civil parish in Norfolk. The town is on the North Walsham & Dilham Canal, which is still privately owned by the North Walsham Canal Company. According to the 2011 census, the town had a residential population of 12,634.
The town is 7½ miles south of Cromer and the same distance north of Wroxham. The county town and city of Norwich is 15 miles south. The town is served by North Walsham railway station, which is on the Bittern Line between Norwich, Cromer and Sheringham. The main road running through the town is the A149, which links to the national A-road and motorway networks.
Substantial purpose built industrial unit, in a prime trading location, briefly comprising:
Main customer entrance with sliding doors.
Additional access via roller shutter door, with internal roller shutter door.
Office with separate entrance.
The property is divided into two areas, one side for customer self-service with:
Perimeter racking and display units.
2 x full length display aisles.
3 x shorter display aisles.
Display bay at the end of the property.
Serve over counter with cash box, credit/debit card terminal and 2 x infrared tube heaters.
WC with disabled facilities.
Rear of counter access to:
Office with 3 x desks, computers, fax machine, printer, storage heaters and CCTV system with 8 x cameras.
Storage area with:
3 x racked aisles.
Cable storage racking area with fork lift.
Mezzanine storage area with internal access stairs.
Car park to front for 6 x vehicles.
Security fencing to side and rear.
Security cameras and sodium flood lighting.
Monitored alarm system.
Fire alarm system.