| (REF: HW1304) Price Reduced Village Stores And Post Office |
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| Seller Reference: |
HW1304 |
| B4S Reference: |
27853 |
| Asking Price: |
£44,950
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| Net Profit: |
Undisclosed |
| Sales Revenue: |
£268,758 |
| Number of Staff: |
Send enquiry for more details. |
| Established For: |
Send enquiry for more details. |
| Ownership: |
Leasehold |
| Location: |
Undisclosed, Hampshire, United Kingdom |
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LOCATION:
The village nestles along a valley and ancient riverbed running from the South Downs in East Hampshire. For 3000 years there has been a settlement in Hambledon and the human footprint of history can still be discerned-a Roman villa, a Saxon church and significant Norman and Medieval buildings. Hambledon is set in a typical southern English countryside in an Area Of Natural Beauty surrounded by sweeping farmland and splendid woods.
The Manor of Hambledon was granted to the Bishop of Winchester by King John in 1199 and remained with the bishopric until the English Civil War in 1650. In 1651 King Charles II spent the night of 13th October at Hambledon on his way to exile in France after the Battle of Worcester. The king was travelling from Somerset to the port of Shoreham, and lodged at his guide's house now known as 'King's Rest'. At the restoration of Charles II the Parish of Hambledon reverted to the bishopric of Winchester. Hambledon is the "Cradle of Cricket" where the laws of the present-day game were formalised in 1770 and the early notable matches were played on Broadhalfpenny Down in the eighteenth century. John Nyren, the famous cricket writer, was born here in 1764, the son of Richard Nyren who founded the Hambledon Cricket Club at the famous Bat and Ball Inn.
BUSINESS:
Located in the heart of this historic Hampshire village, The People's Market has traded for more than 100 years. Originally a Butcher's Shop, it now offers a full range of products and services associated with a modern convenience store. Local customers appreciate and support the off-licence, news, magazine and greeting cards choice, the lottery, bakery and deli counter which offers many locally-produced items. Fresh fruit and vegetables, dairy produce, free-range chickens, sausages, bacon and lamb from local farms are also very popular. Bottled Hambledon Bitter from the Itchen Valley Brewery, Hill Farm Apple Juice, home-made fudge and the famous Forest of Bere range of ice-creams and yoghurts are produced just 5 miles from the store. Dry Cleaning is also collected here. The business operates more than150 active monthly accounts with its affluent local resident client base. The Post Office is secure from closure and enjoys a salary of £6,800.
BUSINESS PREMISES:
(all sizes are approximate and should be considered 'nominal'.)
The lock-up, ground floor premises are entered via centrally-located, glazed double door between two large bay windows. To the right hand side is the Customer Service counter with newspapers, magazines, tobacco, off-licence and lottery. To the left are the grocery area, deli and Post Office service counters. There is a rear office, store, walk-in freezer and hatch leading down to the dry cellar. The spacious, well planned retail area is in the process of being refurbished by the current owners.
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
OUTSIDE:
There is a useful delivery door to the side of the premises.
A selection of cut flowers, potted plants and firewood are displayed on racks outside the shop. There is ample free on-street parking in the village.
TENURE:
The premises are secure on a renewable, fully repairing and insuring 20 year lease which commenced on 28 January 2002 and expires on 27 January 2022 at a current annual rent of £10,920. There are 4 yearly rent reviews with the next review date is 28 July 2010.
RATES:
The rateable value of the business premises is £9,700, with rates of £3299.61 payable in 2008/09.
NOTE:
This information has been obtained either from the current rate demand for the property, or by telephone from the local authority. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that. Potential buyers make their own enquiries through the local authority to check whether the rateable value remains correct and whether the rates payable will be the figure quoted above.
SERVICES
We understand from the vendor that all main services are connected to the property.
TRADE:
Accounts produced for the business show turnover of £268,758 and gross profits of £75,914 (28%) for the year ended 31 January 2010 + annual PO Salary of £6,800. There is a weekly newsbill of £550 and lottery sales of approximately £300 per week.
Please note that if a business is VAT registered, all figures exclude VAT.
HOURS:
Monday to Friday 08:00 to 18:00
Saturday 08:00 to 17:30
Sunday 09:00 to 13:00
STAFF:
The business is manned for 87 hours per week. These hours are divided by the Vendors who work a total of 34 hours supported by 4 part-time staff sharing a total of 53 hours Monday to Saturday.
STOCK:
The vendor informs us that the value of the stock is approximately £15,000
LEGAL FEES:
Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.
COMMENTS:
Here is an appealing life-style opportunity for a new owner to build on the excellent foundations laid down by the current owners in a sought-after, historic village location. Growing demands of a young family led to the price reduction. Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
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Property: |
Leasehold |
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Living Accommodation: |
No |
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Is this a home-based business? |
No |
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Can this business be relocated? |
No |
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Is this business part of a franchise? |
No |
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