Hilton Smythe is delighted to welcome to the market this well-established and busy convenience store business, which is ideally located within the city of Lincoln, Lincolnshire.
The business was originally established in the 1970s and has been in our client’s careful ownership since 2006. Only now is the business being offered to the market due to our client’s unfortunate health problems and desire for a well-deserved retirement. The business operates 7 days per week and generates a turnover in the region of £534,000 per annum, with a gross profit of approximately 27%.
Our client offers a variety of goods including newspapers and magazines, convenience items, frozen goods, greeting cards, dairy products, alcohol and tobacco products, to name a few, as well as offering a parcel service. The property offers a spacious sales and display area to the ground floor, which is very well-maintained and decorated to a high standard.
To the first floor are two flats, the first has 6 double bedrooms and 3 external access doors, giving the opportunity to convert into three individual flats. The second flat is self-contained with two bedrooms. The accommodation could be used by a new owner or could be let out to generate further income.
The business has built up an excellent reputation within the area for the high quality of the goods and service 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 promote the goods and services offered. There is also scope to introduce a fast food service.
This is an excellent opportunity for a new owner to take this already thriving and busy business to the next level; therefore early viewing must come highly recommended to avoid disappointment.
Premier Spend & Save occupies substantial two storey premises, ideally located within the cathedral city of Lincoln, Lincolnshire, East Midlands. The business is set within a small parade of complimentary shops and businesses, next to a school, therefore the business benefits from a very high volume of footfall and passing trade. The business further benefits from free on-street parking to the front of the premises. The convenience store is situated within a densely populated residential area from which the business derives much of its trade.
Lincoln is a popular place in which to live and work as well as being a very popular tourist destination. There are many historical buildings including the cathedral, the castle and the Medieval Bishop’s Palace. Other attractions include the Museum of Lincolnshire Life and the Sir Joseph Banks Conservatory at the Lawn.
The area of the business is very well served by the public transport system, with several bus stops within easy walking distance of the property. The nearest railway station is Lincoln Central, which is approximately 2 miles away. The area is also well served by the A-roads, with the A15 being within easy driving distance, which links to the vast A-road and motorway networks. Lincoln city centre is approximately 2½ miles away and Newark-on-Trent is 20 miles away.
Substantial two storey premises ideally located in a prime trading position, briefly comprising:
Large sales and display area with:
4 x central display aisles.
2 x triple door drink chiller units.
3 x double door drink chiller units.
Single door drink chiller unit.
Double section open chiller unit.
Four section open chiller unit.
5 x large glass top freezers.
Three tier ice cream freezer.
2 x epos cash registers.
3 x large stock areas, which are racked and shelved.
Double garage size stock room/unloading area with up and over garage door.
Large self-contained flat with 3 external access doors.
6 x double bedrooms.
Separate accommodation with:
Internal and external door access.
This flat is currently let out generating £100 per week.
Large frontage with lay-by and forecourt frontage.
Gated passage to one side.
Gated drive leading to rear parking area for approximately three vehicles.
The property boasts a 21 x camera CCTV system and is fully alarmed.
We are advised Leasehold:
Original lease length: 40 years
Remaining lease length: 31 years
Review every: 5 years
Rent: £21,000 per annum
The business is open:
Monday – Saturday: 8.00am – 9.00pm
Sunday: 9.00am – 9.00pm
The business is family run.
The business generates a turnover in the region of £534,000 per annum, with a gross profit of approximately 27%.
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