Hilton Smythe is delighted to welcome to the market this busy convenience store business, which is ideally located within the seaside town of Paignton, Devon.
The business was established as a Spar convenience store by our client in 2009. Only now is the business being offered to the market, due to our client's desire to retire from the trade. The business currently operates 7 days per week and generates a turnover in the region of £498,000 per annum, with a gross profit of approximately 24%, as per the 2016 accounts.
Our client offers a wide variety of goods including newspapers and magazines, confectionery, greeting cards, convenience items, household goods, frozen goods, chilled items, soft drinks, alcoholic beverages and tobacco products, to name a few. The property boasts 158 sq. metres of floor space, is very well maintained and extremely well fitted out to suit the trade.
The business has built up an excellent reputation within the area and further afield, for the very 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 hours. A new owner could embark on a small marketing campaign to promote the goods and services offered, or introduce a newspaper delivery round within the area.
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already busy convenience store to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.
TENUREWe are advised Leasehold:
Original lease length: 15 years
Remaining lease length: 7 years, as of 2017
Rent: £16,500 per annum
HOURSThe business is open:
Out of season:
Monday - Sunday: 8.00am - 8.00pm
Monday - Sunday: 8.00am - 10.00pm
STAFFThe business family run.
FINANCIAL PROFILEThe business generates a turnover in the region of £498,000 per annum, with a gross profit of approximately 24%, as per the 2016 accounts.
Spar Paignton occupies substantial ground floor premises, ideally located within the town of Paignton in Devon. The business is situated within a parade of complimentary shops and businesses on the busy Torbay Road, therefore, benefiting from a very high volume of footfall and passing trade, as well as on street parking facilities to the front of the premises.
Paignton is a very popular seaside town on the coast of Torbay in Devon. The area is a holiday destination known as the English Riviera. According to the 2011 census, the town had a residential population of 49,021. Tourist attractions include Paignton Zoo and the popular Paignton and Dartmouth Steam Railway. Paignton beach and the nearby Preston Sands are used for water sports, including kite surfing and dinghy sailing.
The area of the property is well served by the public transport system, with several bus stops within easy walking distance of the property. Paignton railway station is just a five-minute walk away. The area is also well served by excellent road links, with the A3022 being just a short drive away, which links to the national A-road and motorway networks. Torquay is approximately 3 miles away and Dartmouth is 8 miles away.
Substantial ground floor premises in an ideal trading location, briefly comprising:
1100 sq. ft. trading area.
Service counter with two cash register points.
National Lottery terminal.
Self-service coffee machine and snack baskets.
Spirits display, bake-goods oven and food prep area.
Walls ice-cream chiller.
2 x full sized refrigerators (owned by Coca- Cola).
Magazine and newspaper display stand.
Greetings card display.
2 x gondolas.
Range of rack mount shelving.
Single chest freezer.
To the rear of the shop is a part shelved storeroom.
Office, and ancillary area.
Second shelved store room with staff WC.
Lockable rear access, shared by residential flat above.
Service alley for deliveries.