Hilton Smythe is delighted to welcome to the market this well-established and very popular convenience store, which is ideally located in Lake, Isle of Wight.
The business was established by our client in 2000 and is only now, reluctantly, being offered to the market due to our client’s desire for a well-deserved retirement. The business currently operates 7 days per week and generates a turnover in the region of £245,000 per annum, with a gross profit of approximately 22%.
Our client offers a wide variety of goods including newspapers and magazines, greeting cards, confectionery, convenience items, frozen goods, alcohol, tobacco products and soft drinks, to name a few, as well as being a dry cleaning agent and offering a cash machine.
The business has built up an excellent reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.
We feel there is scope to increase the turnover by extending the opening hours. A new owner could also embark on a modest marketing campaign to highlight the goods and service offered.
We feel this is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already thriving business to the next level, therefore, early viewing must come highly recommended to avoid disappointment.
Lake Stores occupies substantial ground floor premises, ideally located within the cliff top village of Lake on the Isle of Wight. The village is located approximately midway between the towns of Sandown and Shanklin in the popular tourist area of Sandown Bay, which is notable for a wealth of natural features including its long stretch of golden sandy beaches and Culver Downs.
The business is surrounded by densely populated residential areas, from which the business derives much of its trade. There is street parking close by and a large car park 150 metres away.
The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. Lake railway station is less than 5 minutes’ walk away. The area is also well served by the A-roads, with the business located just off the A3065, which links to the islands A-road network. Shanklin is approximately one mile away and Newport is 8½ miles away.
Substantial ground floor premises, ideally located in a prime trading location, briefly comprising:
Children’s’ toys and confectionery
Main serve over counter with EPOS cash register.
Household goods section.
Newspaper and magazine display.
Greeting card display.
Chilled food section with 3 x glass fronted chillers.
Glass topped chest freezer.
We are advised leasehold:
New lease to be agreed.
The business is open:
Monday – Sunday: 7.30am – 7.30pm
The business is owner run and managed with 3 x staff members
The business generates a turnover in the region of £245,000 per annum, with a gross profit of approximately 22%.
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