Convenience Stores for sale in Barrow-in-Furness

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Mr & Mrs Campbell (Jan 2015)
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Freehold Price: £295,000 Price Reduced Turnover: £250,000 Gross Profit: £50,000
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Business Description
BUSINESS
Hilton Smythe is delighted to introduce to the market Bowness Road Post Office and Grasmere Convenience Stores.

The post office has been in existence for over 50 years with our client successfully running the business for the last 19 years and is very well supported by the local community.

The property and business was expanded about 5 years ago following the purchase of the neighbouring property and is very well fitted throughout. The premises are 5 star Food and Hygiene rated.  Conversion of the two buildings was undertaken to create the present convenience store which complements the post office.  

The convenience store sells alcohol, cigarettes, groceries, bread, crisps, greeting cards, dairy products, stationery, confectionery, newspapers, magazines, drinks, snacks, frozen goods and Health Lottery tickets, with the potential to apply for national lottery status to further revenue.

The conversion also enabled two self contained two bedroom flats to be created on the first floor which currently provide a fantastic rental of £400 per calendar month each.  One or both flats could be used as owner’s accommodation if required.

The Post Office attracts a salary of £42000 pa which is in addition to the turnover and profits of the convenience store. The turnover is on the increase due to the closure of two post offices in the area, leaving this one as the only one within a 6 mile radius.

We believe the business has the potential to further increase profit, perhaps by extending the opening hours or if the business were to be acquired by a partnership or family, the staff wages bill could be reduced, thus increasing profit and subsequent turnover.

We highly recommend viewing of this popular profitable concern which genuinely comes to the market due to our client’s wishes to retire.

LOCATION
The business is located in the large industrial town and seaport of Barrow in Furness in Cumbria.

Occupying a prominent corner position, the business sits within a heavily populated area of the town with ample street parking in the vicinity. With the closure of two other post offices in the area, this post office is the only one within a 6 mile radius.

The town is situated at the tip of the Furness Peninsula with a host of beaches and close to the popular Lake District.  Barrow in Furness is often referred to as the ‘’gateway to the lakes’’ and is bordered by Morecombe Bay, the Duddon Estuary and the Irish Sea.  The area is renowned for its shipyard, being a significant producer of naval vessels with the Dock Museum attracting many visitors to the area.

The area has good road links with the principle road being the A590, linking the area to Ulverston and the Lake District and the M6 motorway beyond.

The town also boasts its own railway station and regular bus services run through the town and out to surrounding areas.

PREMISES
Substantial sized corner premise briefly comprising:-

Large glass windows ideal for display purposes.

The shop has been extensively refurbished to a very high standard 6 years ago.  The floor is tiled and the decor, furnishings and fittings are of the highest standard.

The left hand side of the shop has display units, modern deep shelves and stands in the front section.   At the rear is the post office counter with 2 serving positions behind a security screen. There is a service area and stock areas behind the counter.

To the right is a large retail area with high quality display units, deep modern shelves and stands in front of a modern display serving counter.  There is a service area behind the counter with a wall fixed cigarette cupboard.

There are stock rooms at the rear and a small yard.

Equipment

In convenience store

Counter

Display units

Till with epos system

Modern units, shelves and racking

Cigarette cupboard

ATM

Drinks fridge

Large refrigerated display unit

Double upright freezer

Vegetable rack

Large refrigerated drinks unit

Ice cream freezer

In Post office

3 safes ( 1 timed)

Card machines

Scales

Clock

Chairs

On the first floor are two self contained 2 bedroomed flats with rear access.

There is free street parking in the vicinity.

TENURE
We are advised freehold.

HOURS
The business opens:-

Monday to Saturday 6.30am – 8.00pm

Sunday 6.30am – 12.30.

STAFF
The business is owner run and managed with the assistance of 9 part time members of staff.

FINANCIAL PROFILE
The business reports a healthy turnover of £250,000 per annum, with gross profit at £50,000.

The post office salary is £42,000

The wages bill is circa £750 per week.


Tenure: Freehold

Listed by: Hilton Smythe
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