TRADITIONAL TOBACCONIST - Pool Way
Price:
Leasehold - £24,950
Location:
West Midlands , Pool Way
Business Type:
Retail businesses
LOCATION:
The shop is located in the Pool Way Shopping Centre which is a purpose built open complex approximately 3 miles to the east of Birmingham city centre. The centre is situated in the heart of a large residential area, is easily accessible and attracts many local shoppers.
BUSINESS:
This trades as a traditional tobacconist selling a wide range of cigarettes and tobacco, with additional sales from confectionery, greetings cards and a small range of groceries. It is also a PayPoint agent. The business currently trades under the name Candies but this is not included in the sale and the new owner would need to re-brand the shop.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
These briefly comprise a ground floor lock up shop with fully glazed frontage secured by electric shutters. The retail area is presented and is equipped with a range of wall mounted display racking and shelves to accommodate magazines, confectionery, groceries and greeting cards. To the rear of the serving counter is a wall mounted cigarette gantry and there is a PayPoint terminal adjacent.
Note: Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
TENURE:
This is a leasehold opportunity and we are advised there is a 5 year lease in place which commenced December 2008 and expires in 2013. The lease is within the LTA 1954 and as such renewal rights apply. The current rent is £4,200 per year. Please be aware that the landlord will require references to support your application as a tenant and may request a rent deposit of between 3 and 6 months.
RATES:
The rateable value of the business premises is £3,150, with rates of £1,364 payable in 2011/12.
Note: 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.
TRADE:
From information supplied by the owner, turnover for the 12 months ending July 2011 was £350,129 with a gross profit of £60,824. Detailed figures are provided at the end of these particulars and have been signed and verified by the Financial Director of the limited company who currently owns this business.
Please note that if a business is VAT registered, all figures are net of VAT.
HOURS:
Monday: 8.30am to 5.00pm
Tuesday: 8.30am to 5.00pm
Wednesday:9.00am to 5.00pm
Thursday: 9.00am to 5.00pm
Friday: 8.30am to 5.00pm
Saturday: 9.00am to 5.00pm
Sunday: Closed
STAFF:
This shop is one of many owned by a large company and as such is management run. There are currently 3 members of staff employed who work a total of 81.5 hours. These include a manager, assistant manager and a sales assistant.
STOCK:
The vendor informs us that the value of the stock is approximately £15,850.
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:
1. National Lottery and other agencies
The transfer of a National Lottery agency or any other agency are at the sole discretion of those operators. In some instances a transfer could incur the payment of a “bond” or deposit to the agency confirmed.
2. Deposits
Successful bidders are to pay a non-refundable deposit to Adams & Co of £4,000 which will be offset on completion of purchase against the purchase price. In the event the purchaser reneges on the agreed terms and conditions of a sale and purchase, the deposit will be forfeited. In the unlikely event the vendor withdraws, the deposit will be repaid in full.
3. Timescale
The sale and purchase of the subject businesses will be on a Subject to Contract basis. Time will be of the essence, insofar as proposed purchasers will be required to enter into a contract, albeit conditional upon landlord’s consent and within a maximum of 21 days from the date that draft documents are received by their solicitors. Proposed purchasers should ensure that their solicitors are made aware of this condition of sale and are capable of dealing with the vendor’s standard form of contract within the required timescale.
4. Trade fixtures, fittings and equipment
The business is offered for sale as going concerns to include most of the fixtures, fittings and equipment. However, any scanning system/tills will NOT be included in any proposed sale. The home news delivery (HND) computers (where applicable) can be included, but are subject to separate negotiation. In the event that a purchaser does not require a computerised HND system, the vendor will provide a list of delivery customers and debtors and it will be the purchaser’s responsibility to acquire and install a manual system. Inventories will be made available once sales have been agreed. In addition to items owned by the vendor and included in the proposed sales, these inventories will also include items that are the property of suppliers and/or manufacturers and proposed purchasers should make their own enquiries with regard to the continuing use of these items.
North Yorkshire
£ 750,000
|
|
Business Services that may be of Interest:
|
|
|