Convenience Stores for sale in Arundel

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Busy Local Grocers & Convenience Store

Arundel, West Sussex, England

  • Leasehold Price: £62,500  Price Reduced arrow_drop_down
  • Under Offer
  • Turnover: £221,153
  • Gross Profit: £51,838
Seller Reference: B05044
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Business Description
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Seller Reference: B05044
Request Details
Business Description
Hilton Smythe are delighted to offer to the market Larkins general grocery store, established as a store in the early 1900’s and owned and managed by our client for the last 20 years who is now selling due to retirement. The community led business underwent a £20,000 refit less than 3 years ago and unusual for this desirable area comes with a beautifully presented 2 bedroomed owners flat which recently received new decoration throughout. The key to the business’s success is knowing the needs of the many loyal customers who pass through the doors as well as being well stocked for the needs of the many day trippers and weekend visitors passing through the town. Our client offers a range of convenience lines, high end grocery products, drinks, household products, confectionery, pet food, frozen meals, alcoholic beers and wines, locally made cakes, vegetables and cheeses, eggs and milk, pharmacy lines and Ice creams. The business is also proud to offer the very popular ‘Cooks’ frozen meals, very poplar throughout East Sussex, West Sussex and Hampshire. Postcards, fire wood and local gifts are also stocked including a range of haberdashery. Currently run as an independent store, our client uses the typical suppliers of Bookers and Bestways however any new buyer may want to join a branded chain such as Londis to aid a larger range of products and prices. We are informed the current average spend is £5.20. Our client understands he now runs the business to suit and that any new buyer may look to extend the hours, add more locally sourced lines, further unitise the outside display space, add more gifts and snacks to takeaway, increase the range of wines and ciders and add a local delivery service for customers who struggle to get out in bad weather. In our opinion, this is a fine example of a lifestyle change business opportunity and very rarely do businesses in Arundel like this come to market and therefore recommend early viewing to avoid disappointment.

Larkins Grocery Store is located on Tarrant St, in the centre of Arundel, West Sussex. Arundel is a picturesque Market Town in a steep vale of the South Downs, the much conserved town has a medieval Castle and Roman Catholic Cathedral that dominates the hilltop and can be clearly admired miles away. Although smaller in population than most other parishes, Arundel comes second behind much larger Chichester in its number of listed buildings in West Sussex. The River Arun runs through the East side of the town. The town is accessed just off the A27 which connects Portsmouth 29 miles to the West with Brighton 20 miles to the East. The business sits perfectly in cobbled streets offering visitors a unique choice of independent retailers, cafes, bars and restaurants including many gift shops including the very popular museum. Arundel has become increasingly popular with those looking to enjoy the history and period properties, in the summer months it attracts many visitors including walkers and history lovers. There is limited free parking directly outside the business including a larger pay and display car park directly behind. It is also planned for 90 new homes to be built within the area which will directly increase the footfall for this business. Nearest mainline station is Arundel.

Front external - double sided display space shielded by a traditional racing green canopy. Main shop - 4 M open chiller, double fronted glass drinks fridge, 3 x glass topped display freezers (including 2 ‘Cooks’ branded freezers), 2 x central display units which are double sided with greeting card stands at each end, several hanging display units, fixed shelving to both right and left walls, glass fronted wine and beer fridge. Service counter - 2 x tills, electronic scale, spirits and cigarette storage, PayPoint machine, card machine and window display shelving. Rear door to - large hallway with stairs to both the cellar areas and garden, first floor accommodation. 1st Floor - modern fully fitted kitchen with views over the South Downs, includes base and fitted wall units, sink, electric hob and oven. Central living room with rear window and doors into 2 x double bedrooms to the front of the property and a large bathroom to the side of the property which includes a large walk in shower. Cellar - very large fully shelved stockroom with safe, freezer, washing machine, large Prep sink, hand wash sink. Rear access into 2nd smaller stockroom and owner’s office. Side door to side alleyway which includes a private front street access door, staff toilet and rear path to private garden. Private garden - beautifully presented decked terrace garden with 3 distinct areas including a raised sitting area with panoramic views. A true haven for any new buyer looking to enjoy the breath-taking location.

We are advised the business is being sold as a Leasehold opportunity with a new lease to be available for any new buyer. A rent payable of £16,500. The business benefits from full small business relief on the rates paying 0 in the current year.

Monday to Saturday 8.30am-8.00pm Sunday 9.30am-7.00pm

The business is run and managed by our client with the help of 3 x part time members of staff. Any new buyer may look to reduce staffing costs to increase the level of net profit.

Financial Profile
The turnover as of the 2018 accounts showed £221,153 with an adjusted net profit of £25,171.

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