For Sale

Well Presented & Well Stocked Convenience Store

Tipton, West Midlands

£154,995 +SAV

Ref: B04706

Contact sales negotiator

Jessica Aspinall

01204 556 300

Email Jessica Aspinall

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Description

Hilton Smythe are pleased to have been given the opportunity to manage the sale of The Local Shop which is a well-established business with a renowned reputation amongst local residents.

This is a superb opportunity to take on a high turnover local business in an area teeming with customers.

There has been a Newsagents / Convenience Store at this site since the 1950’s and the current owner has run it successfully and lucratively for the last couple of years having invested considerable money into the business during his ownership ensuring that it is certainly one of the nicest businesses of this type in the area.

The business is now being sold, albeit reluctantly and with a heavy heart only so that the owner can concentrate on his other business interests, he is keen to see his beloved business pass to an ambitious and entrepreneurial new owner who can take this already thriving business to the next level.

The Local Shop is a well-established and well stocked business which really is the heart of the local community. The business has an impressive number of regular customers, many of whom use the business on a daily basis and are known on a first name basis by the current owner who is popular and well respected locally.

The business sells a varied range of products including;
off
• Newspapers and Magazines
• Tobacco and vaping products
• Confectionery
• Cold drinks
• Beer, Cider, wines and spirits
• Ice creams
• Bread and cakes
• Dairy products such as milk cheese and butter
• Crisps and snacks
• General groceries
• Frozen foods
• Household cleaning products
• Greeting cards and wrapping paper

Additionally, the business has a Pay point terminal with takings of approximately £600 a week and a weekly news bill of roughly £120. A Lotto terminal has just been installed which will increase footfall and takings further and there is an in store ATM machine.

Reasons to Buy

• A well-established business with an enviable reputation and many regular customers
• Low running costs with inexpensive rent and no business rates
• Current owner happy to offer a handover to ensure the continued success
• Considerable money has been spent recently making this one of the nicest convenience stores to come to the market for some time.
• Ideal owner managed or husband and wife business
• All fixtures and fittings included making this a real Turnkey business opportunity.
• Priced to sell

Hilton Smythe highly advise early viewing to avoid disappointment. This great business is likely to attract considerable interest.

Tenure

Leasehold

We are advised that The Local Store is being sold as a Leasehold business opportunity.

The existing Lease has approximately 9 years remaining, and the rent is £13,200 per annum which is really reasonable given the size and location of the premises.

We are advised that the business benefits from being exempt from business rates.

Hours

Monday to Thursday - 7.00 am – 11.00 pm
Friday 7.00 am – 12.00 am
Saturday 8.00 am – 12.00 am
Sunday 8.00 am – 11.00 pm

Staff

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

Financial Profile

The Local Store generates an advised current turnover of circa £635,000 per annum but it needs to be appreciated that the business is being run at a pace to suit due to other business commitments. The turnover is however still increasing at an impressive pace.

Location

The Local Shop is located in Tipton in the West Midlands

Tipton is a town in the West Midlands with a population of around 38,777 at the 2011 census. Tipton is Located about halfway between Birmingham and Wolverhampton. It is part of the West Midlands conurbation and is a part of the Black Country.

The majority of the town now falls within the borough of Sandwell, but the western fringes- including the Fox yards estate and the site of the former Tipton Town Hall- come under the borough of Dudley.

Tipton has direct bus links with the towns of Dudley, Walsall, Birmingham, Wolverhampton, Sedgley, Coseley, West Bromwich, Oldbury, Smethwick, Bilston, Wednesbury And Darlaston.

Tipton has a direct rail link with the areas of Wolverhampton, Birmingham, Coventry and Walsall. There are two railway stations, Tipton in the town centre and Dudley Port. Both are on the electrified line from Birmingham New Street to Wolverhampton which is a section of the West Coast Main Line.

The Local Shop is ideally situated in a prominent corner position on a busy main road and thus benefits from high levels of footfall and passing trade.

The business is beautifully presented and maintained with clear visible signage and distinctive, upmarket grey and red livery. There is free on street parking in the roads surrounding the business.

Premises

The Local Shop occupies a prominent corner position, is beautifully presented and briefly comprises;

Generously proportioned shop which has been cleverly designed to maximise the space available, briefly comprises:

• Glazed double doors with large windows to each side creating a light airy and inviting interior
• Tiled floor
• Suspended ceiling with concealed lighting
• Bespoke L-shaped counter with hanging confectionery display to front
• 2 EPOS tills
• Card Machine
• Paypoint and Lotto terminals
• Scratch card display
• Spirit shelving
• Cigarette gantry
• Long open chillers to each side
• Perimeter shelving
• Two central shelving gondolas
• Fruit and vegetable display
• Greeting card racking
• Two glass topped food freezers

Stock Room

• Generous size
• Perimeter shelving
• Floor storage space

Walk in store Room

• Ample floor storage space
• Leading to staff toilets with hand wash basin

First Floor

To the first floor and accessed via stairs from the Stockroom is a further generous store Room.

The business is secured by an ADT Redcare, monitored alarm system and a 16 camera CCTV system with smart phone connectivity.

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