Established Since 1987
Annual Turnover £750,000
Gross Profit £216,000
Located on a Busy High Street
EPC - DREF 5813 – Leasehold Carpet, Bed and Appliance Retailer
Blacks Brokers are proud to bring to the market this leasehold carpet, bed and appliance retailer located in the much sought-after area of Newcastle-under-Lyme. INTRODUCTION
The business has been trading for over 30 years, with our client in ownership since 2015. During that impressive trading history, the business has gained a large following of loyal customers and established a most enviable reputation. The business offers an array of flooring solutions and fitting options in addition to bed and appliance sales and delivery. LOCATION
The business is close to Newcastle-under-Lyme and Stoke-on-Trent – this area is well linked with the A34, A500 and M6. Parking is available in the immediate area and public transport is readily available close by. REASON FOR SALE
The business is only being offered for sale due to our client’s other business commitments and interests.LEASE
The building is available on a competitive rent on an Internal Repair Only lease (IRO lease). This is one of the most common forms of commercial property lease. The current lease is split into the separate areas of the business with a total combined cost of £618 per week split between the appliance showroom (£200 per week), the main shop (£257 per week), and the warehouse with office space (£161 per week).BUILDING LAYOUT AND DESIGN
The business is housed within a large, triple fronted, detached property located within a spacious corner plot. The premises comprise of two adjoining shops. The vendor owns the unit to the left which houses the appliance showroom and has staff toilets at the rear – this will be issued a new lease on completion of the business sale. On the first floor above the appliance showroom is the Edging Room. This can be utilised to for additional showroom space or the current owner is happy to continue operating his edging business from there and pay £160 per calendar month in rent.
The unit on the right (the main shop) has a large open plan carpet and flooring showroom on the ground floor with a customer service counter at the centre. There is access to the rear to a small courtyard. On the first floor is a large open plan bed showroom. The units have direct access to each other via an arch way on the ground floor and an open doorway on the first.
On the road that runs down the side of the building and within 100 yards of the main building, is a 1000 square foot warehouse with driveway and loading bay. Directly opposite is a small office block comprising of two offices with kitchen and toilet facilities between the two.
All areas are well presented and finished to a high standard.STAFF
The business is currently operating with ten self-employed contract fitters, four, full-time sales and administration staff, a commercial manager, delivery driver and assistant manager.FINANCIAL DETAILS
Financial details are available upon a viewing of the business and the business has traded solidly over its trading history. The business generates wean annual turnover of £600,000 with gross profits of 36% consistently. Rates payable for this property are £219 per week.SUMMARY
This is a long-established business ideally located on a busy high street, within high profile, substantial premises with warehouse and offices situated very close by. This leasehold business delivers impressive takings year on year and has gained a large and loyal customer base and great reputation. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. It may also be of interest to a similar business looking for instant expansion. Early viewings are strongly advised. Fixtures:
Nissan Box Van 25,000 Miles, Half Way Through a 4 Year Lease, Has an Online Tracking System
56 Fiat Van Included In The Sale Excluded Item
Mon - Sat - 8.45am - 5pm
Sun - 10am - 4pm
Combined £618 Per Week