Freehold £199,950 + SAV
Leasehold £85,000 + SAV
Hilton Smythe is delighted to welcome to the market this well-established and busy convenience store in Wolverhampton, West Midlands.
The business was originally established in the 1930's and has been in our client's careful ownership since 1990. Only now is the business, reluctantly, being offered to the market due to our client's desire for a well-deserved retirement. The business operates 7 days per week and according to accounts ending April 2014, the business generates a turnover in the region of £232,000 per annum, with a good gross profit.
Our client offers a wide variety of convenience items including groceries, confectionery, tobacco products, pet food, alcoholic beverages and greeting cards, to name a few. 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.
The property is well maintained and fitted to suit the trade with a large sales and display area to the ground floor. The property further benefits from spacious owners' accommodation, with a lounge and kitchen to the ground floor and three generous size bedrooms to the first floor.
We feel the turnover could be increased by the addition of new product lines. A new owner could also embark on a small marketing campaign to highlight the goods and service offered. We are advised that a Lottery terminal has now been installed, which should increase the turnover.
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.
A Leasehold option is also available at £85,000 + SAV with a new lease and rent to be negotiated.
HOURSThe business operates:
Monday - Saturday: 8.00am - 10.00pm
Sunday: 9.00am - 10.00pm
STAFFThe business is owner run and managed.
FINANCIAL PROFILEAccording to accounts ending April 2014, the business generates a turnover in the region of £232,000 per annum, with a good gross profit.
Selwyn Stores occupies substantial two-storey premises, ideally located within the lively city of Wolverhampton in the West Midlands. The business is surrounded by densely populated residential areas, from which the business derives much of its trade. The convenience store benefits from free on-street parking facilities to the front of the premises, as well as a high volume of footfall and passing trade.
Wolverhampton is a vibrant city in the West Midlands and lies northwest of its larger near-neighbour, Birmingham. In recent years, Wolverhampton City Council has embarked on several city improvements and regeneration schemes. Amenities within the vicinity include schools, parks and churches.
The area of the business is served by the public transport system, with bus stops within easy walking distance of the property. Wolverhampton railway station is approximately 3½ miles away in the city centre. The area is also well served by the A-roads, with both the A454 and A463 being within easy driving distance, which link to the national A-road and motorway networks. Walsall is approximately 5 miles away and Birmingham is 15½ miles away.
Substantial two-storey premises, ideally located in a prime trading position, briefly comprising:
Ground floor with:
Main sales and display area with:
Glass fronted drink display unit.
2 x glass top freezers.
Greeting card display unit.
2 x large glass fronted drink display chillers.
Suspended ceiling with concealed lighting.
Large open dairy/wine display chiller.
Large serve over counter with electronic cash register and crisp/snack displays to front.
Tobacco gantry to rear of counter.
Spirit shelving to rear of counter.
CCTV with 4 x internal and 2 x external cameras.
Living room with laminate flooring and easy access to shop.
Kitchen with a range of wall and base units, four burner gas hob with extractor, space for refrigerator/freezer and tiled flooring.
3 x generous bedrooms.
Free on-street parking to front.
Secure yard/garden to side of property.