| (REF: SE001485) Popular Pet Supplies And Hardware And 2 Bed Home - W Sx Coast |
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| Seller Reference: |
SE001485 |
| B4S Reference: |
28486 |
| Asking Price: |
£22,500
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| Net Profit: |
Undisclosed |
| Sales Revenue: |
£64,000 |
| Number of Staff: |
Send enquiry for more details. |
| Established For: |
Send enquiry for more details. |
| Ownership: |
Leasehold |
| Location: |
Undisclosed, West Sussex, United Kingdom |
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POPULAR HARDWARE AND PET SUPPLIES SHOP WITH TWO BED HOME ABOVE IN BUSY PARADE WITH FREE PARKING IN FRONT IN POPULAR WEST SUSSEX COASTAL TOWN
LOCATION
This popular hardware and pet supplies shop is situated on a busy parade in a densely populated district of a popular town on the West Sussex coast.
It stands amongst a wide selection of complementary trades including a fish and chip shop, newsagent, butcher, bakery, off-licence, fruit and veg shop, hair salon etc. and enjoys a loyal local clientele keen to take advantage of unrestricted free parking in front of the premises.
It is a seaside town south of the cathedral city of Chichester with a population of 10,000 and is a popular destination for holiday makers as well as special interest groups such as anglers, birdwatchers, and divers providing year-round visitors.
Chichester is situated near the South Coast of West Sussex surrounded by attractive countryside with the South Downs nearby. It is the administrative centre for the western half of the county with a population of approximately 25,000, and is within easy reach of other coastal cities including Portsmouth and Brighton thanks to excellent road and rail links.
THE PROPERTY
The business occupies mid-terrace premises comprising a spacious ground floor shop and 2 bedroom living accommodation above. The frontage consists of a plate glass display window with a sign written fascia board above, and an offset entrance door with level access to the shop. The wide forecourt is used for product display of larger items.
The well-lit interior extends to approximately 450 sq ft and is fitted with a suspended ceiling with recessed florescent lighting and the floor is laid to hard wearing carpet. It is well equipped for the trade with slatted walls, adjustable shelving, gondola shelving, display racks and self-service display bins for dried goods. There is also a small counter with an electronic cash register and digital scales. The premises are protected by a 2-camera CCTV system with hard disk storage.
To the rear is a lean-to storeroom with WC, while the property also comes with a lock-up garage in the car park at the rear which provides useful additional storage space.
Living Accommodation
Steps at the rear of the property provide access to a 2-bedroom flat currently let at around £700 per month but could be made available with vacant possession if required.
TENURE
Leasehold - approximately 12 years remaining with a current rent of £8,000 per annum.
The business premises have a Rateable Value of £3,250 and we understand that Uniform Business Rates payable are approximately £1,400 in 2011/12 after small business relief. The maisonette falls into Band A for Council Tax purposes with £993.54 payable in 20011/12.
THE BUSINESS
The business has operated as a hardware shop for many years and the offering has been extended by the current owner to include pet supplies within the last year. It is now being offered for sale along with his other businesses to enable him to retire.
Run by two full time employees the premises trade every day from 7.30am to 5.00pm with early closing at 12.30pm on Wednesday and Sunday, the business stocks a wide range of DIY goods, hardware, tools and domestic items, as well as the pet supply side which includes loose and packet pet food, toys and accessories, which was recently introduced and is growing well.
We are advised that the turnover is steadily increasing thanks to new stock lines and is now averaging between £1,000 - £1,500 per week at a typical gross profit margin resulting in a healthy net profit thanks to the low fixed overheads. This clearly could be further enhanced by a fully active working owner. We understand that the average stock level is in the region of £2,500. Further financial details will be made available to serious enquirers following an initial viewing and meeting with the owner.
This is an excellent opportunity to acquire a growing business with low overheads and the benefit of spacious living accommodation with separate access. We believe there is scope for continued growth and profitability in the right hands, with opportunities to expand the retail offering if desired.
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Property: |
Leasehold |
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Living Accommodation: |
Yes |
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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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