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INTERNATIONAL FOOD SHOP IN SOUTHAMPTON
Price:
Leasehold - £39,950
Location:
Hampshire , Shirley, Southampton
Business Type:
Retail businesses
LOCATION:
In the main shopping area of Shirley, one of Southampton's busiest, most densely populated suburbs. Southampton is one of the country's busiest deep-water ports, with its unique double tide allowing unrestricted access for the world's largest vessels, including cruise ships. The city has excellent shopping with famous department stores, high street names and specialist and independent shops, all located within easy reach of public transport. With easy access to the M27 and M3, it is a vibrant city with a lively programme of events and venues, including the Mayflower Theatre which hosts a wide variety of live performances, from pantomime to opera, throughout the year and which is now considered one of the top three most successful regional theatres in the UK. The area has a number of historical points of interest which include the medieval walls surrounding the city, and links to the Pilgrim Fathers' departures to the Americas, the Titanic and the Spitfire. The City Art Gallery is internationally renowned and numbers over 3,500 works and spans six centuries of European art history. Within
easy reach of Southampton, is Portsmouth and its numerous naval attractions, Winchester with its renowned cathedral, the
New Forest and the Hamble River, all offering an interesting variety leisure facilities.
BUSINESS:
An exciting opportunity to acquire a popular international food store. Occupying a prime trading position on the main road through the centre of Shirley, the shop has a loyal following in a thriving trading area and densely populated residential suburb of Southampton. The Vendor has invested heavily in the business during his 2 year ownership with new counter, chillers and display equipment. Products are stocked from all over the world including Continental and Asian groceries, fresh fruit and vegetables, Eastern European and Afro Caribbean products; cigarettes and tobacco, bread, milk and yoghurts; confectionery, sweets and crisps, eggs and dairy products; canned foods; soft drinks; household/cleaning products. There is a dedicated area for the sale of Halal meat products. A new owner could add daily newspapers, lottery, Paypoint and alcohol sales.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
Originally two shop units, the business now trades from one large retail space with a 40 ft (12.4m) frontage. Approximately 1,400 sq ft (130 sq m) internal retail area.
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
OUTSIDE:
There is off-road parking for two cars in front of the business premises. A large selection of fresh fruit and vegetables are displayed outside the shop.
TENURE:
The premises are secured on a renewable, fully repairing and insuring 15 year lease which commenced in 2009 at a current annual rent of £17,000. The is an annual service charge payable of £1,200. Landlord has indicated that a £12,500 rent deposit will be sought in addition to acceptable references.
RATES:
The rateable value of the business premises is £__________, with rates of £____________ payable in 2011/12.
NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. 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 the applicable rateable value 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:
The Vendor advises that annual sales are approximately £312,000 averaging £6,000 per week.
Please note that if a business is VAT registered, all figures exclude VAT.
HOURS:
Monday to Sunday 09.00 to 20.00
STAFF:
The Vendor works full time in the business assisted by one full time employee.
STOCK:
The vendor informs us that the value of the stock is approximately £30,000
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:
The Vendor owns a business in Bournemouth and wisher to concentrate his energies there. This has created an exciting opportunity for a buyer to build on the solid foundations laid down by the previous owners.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
Prime position on a main road through the densely populated suburb of Shirley
The premises are secured on a renewable, fully repairing and insuring 15 year lease which commenced in 2009 at a current annual rent of £17,000. The is an annual service charge payable of £1,200. Landlord has indicated that a £12,500 rent deposit will be sought in addition to acceptable references.
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