DIY and Hardware Stores for sale in Colchester

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S Martin (Feb 2013)
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Leasehold Price: £169,999 Price Reduced Turnover: £290,680 Gross Profit: £131,971
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Business Description
BUSINESS
Hilton Smythe is delighted to welcome to the market this well-established and popular hardware/DIY retail business and Post Office, ideally located within Earls Colne and Coggeshall, Essex.

The business was established by our client in April 2009 and the business has grown from strength to strength year on year. Only now is the business being offered to the market due to our clients’ desire to concentrate on other business interests. The hardware store operates 7 days per week and generates a turnover in the region of £290,500 per annum, with a gross profit of approximately 46%.

Our clients offer a wide variety of goods including hardware and fasteners, ironmongery, household goods, garden and outdoor, electrical, plumbing, decorating and DIY and tools, both manual and electrical. The Post Office offers two service positions and is very busy and has earned £30,000 commission within the first year of being open. The premises are very spacious with approximately 230 square metres of floor space and is fitted out to suit the trade. The name ‘Fork Andles’ is trademarked and offers endless scope for further marketing.

The business has built up an enviable 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. Customers who visit the shop ask if they can have a photo taken in front of the shop due to its name.

We feel there is scope to increase the turnover by embarking on a modest marketing campaign to highlight the goods and services offered. A new owner could also introduce a DIY delivery service within the area, which we are informed is always being asked for. The business already has an excellent and informative website in place at www.fork-andles.com.

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.

LOCATION
Fork Andles occupies substantial two storey premises, ideally located within the quaint village of Earls Colne, near Colchester in Essex. The premises is situated on the  busy High Street and the business benefits from a high volume of footfall and passing trade, as well as off-street parking facilities to the front of the premises.

There is a second smaller shop in within the small town of Coggeshall in Essex, which is situated between Colchester and Braintree. The town is known for its almost 300 listed buildings and formerly extensive antiques trade.

Earls Colne is a large village near the Essex/Suffolk borders. It is located on the A1124, four miles east of Halstead. The village is a thriving community with a variety of shops, a library, three places of worship, a large village hall, a recreation centre and a Scout hut. The village offers public houses and restaurants, plus a good mix of businesses, both within the main village and up on the airfield business park.

The area of the properties are very well-served by the public transport system, with a bus stop positioned directly outside the business in Earls Colne and within easy walking distance from the property in Coggeshall. The areas are also well-served by the A-roads, with the Earls Colne property situated on the A1124, which links to the national A-road and motorway networks. The Coggeshall property is situated within easy driving distance of the A120.

PREMISES
Substantial two storey premises in in Earls Colne, in a prime trading location, briefly comprising:

Lower ground floor:

Small storeroom and safe.

Ground floor:

Curved serve over counter with key cutting section to left hand side.

2 x position Post Office counter.

Free standing display units.

Wall hanging displays to perimeter walls.

Racking and shelving.

Paint display area.

DIY tools and accessory areas.

Garden section.

Homeware section.

Rear stockroom.

Staff area and kitchen.

First floor:

Secure firework storeroom.

Paperwork storeroom.

Office.

External with:

Shared driveway and parking.

Secure gas storage area.

Large storeroom and coal store.

The second shop in Coggeshall offers a smaller range of goods.

TENURE
We are advised Leasehold:

Original lease length: 5 years

Remaining lease length: 3 years

Review every: 5 years

Rent: £16,800 per annum

HOURS
The business is open:

Monday – Friday: 8.00am – 6.30pm

Saturday: 8.30am – 6.30pm

Sunday: 10.00am – 4.00pm

STAFF
The business is owner run and managed with:

Earls Colne: 3 x staff members.

Coggeshall: 3 x staff members.

FINANCIAL PROFILE
The business generates a turnover in the region of £290,500 per annum, with a gross profit of approximately 46%.



Tenure: Leasehold

Listed by: Hilton Smythe
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