SUPERBLY LOCATED GENERAL STORE THAT IS RIPE FOR CONVERSION Price Reduced
Price:
Leasehold - £80,000
Location:
Hertfordshire , Whippendale Road, Watford
Business Type:
Retail businesses
The particular highlights of the business are:
- A well established business which was formerly a Post Office.
- Good loyal clientele.
- Turnover in excess of £18,000 with a net profit of £1,584 (see financial summary below).
- A business with great potential which has not been exploited because the owner is suffering from ill health.
- An easily run operation.
- This is an ideal purchase for a national chain of convenience stores, hardware or restaurant chain.
- Low rent and rates.
- Very low overheads.
- Accommodation is also included a one bed room flat which currently generates and income of £750.00 per month.
History
Phoenix Business Transfer Agents are delighted to place onto the market this superbly located General Store which has been established since 1980. The business has been in the hands of the current owner since 1980 and they now wish to sell due to retirement.
Services
This very good business opportunity provides hardware and gifts.
Staffing
The concern employs no employees and is a family run business.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
There is no local competition.
Market
The client base consists of local residents and passing trade.
Opportunities
This concern has huge potential if invested in by a national chain of convenience, newsagents or hardware stores and could also be superb premises if converted by a chain of restaurants:
• Superb location on a corner plot with plenty of natural light.
• Close to Watford town centre with good parking facilities.
• A good size premises with accommodation which could be used for staff or rented generating up to £700 per month. There is also a basement for storage.
• A new lease negotiable up to 20 years.
• Low rent and rates.
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.
Property Details
The property is terraced with a prominent corner position, part of a parade of shops and is approximately 1,500 sq ft. The front is branded with an attractive glass front. There are manual shutters. The main customer service area is tiled with a middle aisle, shelving and racking to the walls. It is very well presented and is very conveniently laid out.
To the rear is a store room, there is also a spacious basement also used for storage. There is a toilet, staff facilities and a fully equipped kitchen.
To the rear of the premises is a 1 bedroom flat which consist of a kitchen, shower/toilet and lounge. The flat produces a current rental income of £750.00 per month.
External
To the rear there is a large courtyard with easy access for receiving deliveries.
Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £5,000.
Financial Details
The present annual turnover is £19,901 with a gross profit of £12,033 and a net profit of £1,584. The present value of the stock is £15,000.
The potential turnover of the business within the next 2 years is unlimited given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.
- Situated in the Whippendell Road area of Watford in Hertfordshire.
- Prominent location on main arterial road.
- Part of a parade of shops with some 6 units.
- Excellent parking facilities on all side roads leading off from the main thoroughfare.
- Industrial estates nearby.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A412, A4178 and A411.
- Watford town centre, Rickmansworth and Bushey all lie close by.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.
The original length of the new lease is negotiable up to 20 years. The rent is £17,500 pa with a review in 2016. The lease may be renewable or negotiable for longer term if required.
Monday to Saturday: 9.00 am to 6.00 pm.
Wednesday: 9.00 am to 1.00 pm.
Sunday: Closed.
North Yorkshire
£ 750,000
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