Status: Completed
Tenure: Leasehold
Leasehold Rent: £18,500 per annum
Turnover: £488,212
Bookshop Incorporating a 50 Cover Cafe in Spalding, Lincolnshire For SaleBookshop Incorporating a 50 Cover Cafe in Spalding, Lincolnshire For SaleBookshop Incorporating a 50 Cover Cafe in Spalding, Lincolnshire For SaleBookshop Incorporating a 50 Cover Cafe in Spalding, Lincolnshire For Sale
£125,950 + SAV

Bookshop Incorporating a 50 Cover Cafe in Spalding, Lincolnshire For Sale

Completed
  • Reference: 2344
  • Location: Spalding, Lincolnshire
Hilton Smythe is delighted to welcome to the market this well-established and multi-award winning bookshop, incorporating a 50 cover coffee shop in the market town of Spalding, Lincolnshire. The business was established in 1982 and has been in our client's careful ownership since 1991. Only now is the business being offered to the market due to our client's desire for a well-deserved retirement.

The business operates 7 days per week, with evening events throughout the year and generates a turnover in the region of £488,500 per annum, with a gross profit of approximately 51%. Our client offers a wide range books, gifts and toys, as well as holding regular special events, such as book readings and author signings. There is also a very popular and busy café/coffee shop with approximately 50 covers offering a wide range of snacks, freshly prepared meals and a variety of hot and cold beverages.

Bookmark is a family orientated shop and is popular with all age groups. The business has built up an enviable reputation within the area for the high quality of goods and services offered, which has resulted in a loyal client base, with a vast amount or repeat trade and word of mouth referrals. The business advertises itself on the social media websites Facebook and Twitter and boasts many excellent reviews on the popular website Trip Advisor. The property boasts 7,000 sq. ft. and has very spacious sales and display areas, all fitted out to a high standard.

We feel there is scope to increase the turnover and perhaps upgrade the café/coffee shop into a licenced restaurant, as we are advised there is local demand for quality English fayre within the area. The business would also benefit from the launch of a website to promote the business and the goods/services offered. This is an excellent opportunity for a new owner, perhaps a husband and wife team, to take this already thriving, popular and very busy business to the next level; therefore early discussions with Hilton Smythe to arrange a viewing must come highly recommended.

TENURE

We are advised Leasehold:

Original lease length: 9 years
Remaining lease length: 18 months
Review every: 3 years
Rent: £18,500 per annum.

A new lease will be available, subject to negotiations with the landlord.

HOURS

The business is open:

Monday - Saturday: 9.00am - 5.30pm
Sunday: 10.30am - 4.30pm

STAFF

The business is owner run and managed with 10 x full time and 5 x part time staff members.

FINANCIAL PROFILE

The business generates a turnover in the region of £488,500 per annum, with a gross profit of approximately 51%.
Bookmark (Spalding) occupies a substantial and prominent corner retail premises, ideally located on The Crescent within the quaint market town of Spalding, Lincolnshire. The property is surrounded by a wealth of complimentary shops, business and amenities, therefore generating a vast amount of footfall and passing trade. The business benefits from excellent parking facilities, being in close proximity to a public car park. The area is surrounded by densely populated residential areas, from which the business derives much of its trade. Spalding is a popular market town on the River Welland, within the South Holland district of Lincolnshire. According to the 2011 census, the town has a residential population of 28,722.

The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. Spalding Railway Station is approximately 5 minutes' walk away. The area is also well served by the A-roads, with the A16 being within easy driving distance, which links to the vast A-road and motorway networks. Grantham is approximately 31 miles away and Peterborough is 19 miles away.
Single storey property (7,000 sq. ft.) with three entrances, set within a prominent corner location, briefly comprising:

Substantial sales area, which is divided into sections with different categories of reading interests.
Multiple book stands.
Wall units.
Seating areas.
Children's area with feature train seating unit.
Greeting card area with multiple display stands.
Toy display area with wall shelving and stands.
Gift section with wall shelving, display stands, units and feature fountain.
Service counter with 2 x electronic cash registers.
Office to rear.
WC.
Services cupboard.

Café & coffee shop:

Waitress service.
50 x covers.
Ladies and gents WCs.
Disabled WC with baby changing facilities.
Service counter with refrigerated counter, coffee machine and grinder (rented), 2 x under counter refrigerators, under counter freezer and microwave.

Kitchen with:

3 x microwave ovens.
Refrigerator/freezer.
Small refrigerator.
Double oven.
4 x ring cooker.
Dishwasher (leased).
3 x stainless steel preparation tables.
Two door cabinet refrigerator with salad bar.
2 x bowl commercial sink unit.
Baked potato oven.
Commercial food mixer.
Walk-in freezer.
Dry store with racking and shelving.

To the rear:

Small storage cupboard.
Staff room.
WC.
Stationery office.

The premises are fully alarmed with CCTV.

External:

Prominent corner location and well-signed.