Status: Completed
Tenure: Freehold
Turnover: £520,817
Convenience Store With Well Presented Owners AccommodationConvenience Store With Well Presented Owners AccommodationConvenience Store With Well Presented Owners Accommodation
£330,000 + SAV

Convenience Store With Well Presented Owners Accommodation

Completed
  • Reference: 3015 D
  • Location: Morecambe, Lancashire
Hilton Smythe is delighted to welcome to the market Open All Hours. The store was originally established in 1990 by our clients. The owners have thoroughly enjoyed running the business in this location but are now looking to sell the business due to the desire to take a well-deserved retirement.

The business has built up an enviable reputation over the years for the high quality of the goods and services offered, this has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

This is a highly profitable store and we are advised the current turnover is approximately £520,800 per annum with a gross profit of around 20%. This is generated from the sale of general convenience products, cigarettes, lottery, magazines, newspapers, cards, alcohol and more.

We believe one way in which the new owner could boost turnover would be to look into opening later hours and offer delivery rounds for both newspapers and grocery products.

The property is well suited to the store and comes fully fitted. On the first floor of the premise is the well-presented owner's accommodation. This includes 3 double bedrooms. We believe this business would be a perfect opportunity for a family to run. This is a fantastic turnkey store and would be great as a bolt-on business.

Hilton Smythe highly advise early viewing to avoid disappointment.

TENURE

We are advised the business is freehold.

HOURS

The business is open-

Monday - Sunday: 6:30am - 9:00pm

STAFF

The business is run and managed by our client with the help of 5 members of staff.

FINANCIAL PROFILE

The business generates a turnover in the region of £520,800 per annum.
With a gross profit of around 20%
Open All Hours is located in Morecambe, Lancashire.

Morecambe is a well-known seaside town which is highly popular with tourists. The business is situated on a densely populated housing estate approximately 1.5 miles from the town centre. This area has free on street parking and also parking directly outside. The property is on a retail parade with a fish and chip shop. The store receives most of its trade from the locals in the area as it is the only store on the estate.

This area has a generous amount of public transport that runs into Lancaster city centre and Morecambe. There are also two train stations within easy walking distance with regular routes across the UK. This area has fantastic road connections, the M6 and the A683 which is just a 2 minutes' drive away and it runs from Heysham through to Tunstall.
The business boasts a substantial 3 storey premise. To the front and side property is forecourt for staff and customer parking. The store is completely signed with the Premier branding.

The retail space is a great size with perimeter shelving around and there is also central shelving. Equipment includes-
Cigarette gantry
Counter
Till with Epos system
Coffee machine
Lottery and scratch card terminal
Magazine and newspaper rack
Card shelf
Double freezer
Glass double fridge
Ice cream freezer
Drinks chiller
Confectionary display

To the rear of the shop is a large storage area with additional shelving and a chest freezer. On the ground floor there is also an office, wc and a kitchen.

On the first floor of the property is the owner's accommodation which includes a lounge, dining room, kitchen, two double bedrooms and a bathroom. All rooms are a great size and are well presented. There is a second floor which has the master bedroom with a shower room; fitted with a Velux window.

White goods are included in the sale this also includes the Rangemaster freestanding cooker.

To the back of the property is a great sized fenced off private garden with a patio and decked area. There is access to this via a gate at the side of the property.