Hilton Smythe welcomes to the market Spar Shop. Our client took over this long-established newsagents in 2014. The owner is looking to sell due to the desire to focus on other interests.
The business runs as a newsagents and convenience store in a village location. The store offers an excellent selection of stock, this includes alcohol, newspapers, magazines, confectionery, pet food, fresh foods, frozen foods and household products. The store also offer the National Lottery, hot food such as pies and pasties, an ATM machine, Hermes delivery drop, slushes and hot drinks.
The business generated a turnover in the region of £303,000 as of the 2016 accounts, with a gross profit of 31%. We feel there is scope to further increase the turnover figure. Our client currently offers 8 newspaper delivery rounds to the local area, however there is room to extend deliveries. The owner could also consider introducing Payzone and DPS parcel centre and collection.
The premise already has an A3 class use licence. Taking full advantage of the licence could allow for further income. There is outside space for seating and potential to expand hot food and drink product ranges.
This is a fantastic opportunity that would be perfect for a husband and wife team or partnership. Hilton Smythe highly advise early viewing to take in the full potential of the trade.
TENUREWe are advised the business is being sold as a Leasehold opportunity.
Original lease length: 15 years.
Remaining lease length: 12 years as of 2017.
Rent: £9,000 per annum.
HOURSThe business opening hours: -
Monday - Sunday: 6am - 8pm
STAFFThe business is run and managed by our client, with the help of two full time and three-part time members of staff.
FINANCIAL PROFILEThe business generated a turnover in the region of £290,000 as of the 2017 accounts, with a gross profit of 25%.
Spar Shop is located in Whipton, Exeter, Devon.
The business is situated in the village of Whipton. This is a highly desirable residential leafy suburb of Exeter. There are some independent retail properties around; however, the village is mostly made up of residential properties, from which the store derives much of its trade.
Whipton has all amenities and is just minutes away from the centre of Exeter. Exeter is a bustling tourist destination filled with lots to see and do. The town is a popular location that hosts regular events, such as Exeter Festival of South West Food & Drink and Radio 1's Big Weekend; drawing in huge crowds.
The business is set just off a main road in the village, this runs into Exeter and further connects to the M5 motorway network. There are bus stops a short walk away and the closest train station is Polsloe Bridge a 10-minute walk away.
Spar Shop boasts a generous sized property on a retail parade. The property is fully signed inside and out with the Spar branded signage. Signage is clearly visible to passing trade. There is a terrace area at the front of the property, this is paved with walls around; a great place for seating.
On entry is the service counter this has counter top displays, till, card machine, lottery till and behind cigarette gantry and shelving. Around the perimeter of the store is varied shelving. Also, running through the centre of the store are isles with further shelving and racking.
Through to the rear of the property is a stock room, staff room and toilet.
The sale includes the following equipment: -
Hot food cabinet