Hilton Smythe are pleased to have been given the opportunity to manage the sale of Spar Convenience Store which is a well-established business with a renowned reputation amongst local residents.
This is a superb opportunity to take on a high turnover local business in an area teeming with customers.
There has been a similar type of business at these premises since the 1970’s and the current owners have run it successfully and lucratively for the last 30 years during which time it has thrived and become an important part of the local community.
The business is now being sold, albeit reluctantly and with a heavy heart only due to the owners wish to enjoy a well-earned retirement.
The business is extremely well stocked with a comprehensive range of products including;
• Newspapers and Magazines
• Beers, wines and spirits
• Fruit and vegetables
• Fresh Meat
• Frozen foods
• Instore bakery offering fresh bread and pastries, cakes
• Takeaway coffee
• Ice creams
• Greeting cards and gift bags
• General groceries
• Sandwiches and snacks
• Dairy products
• Soft drinks
• Crisps and snacks.
Additionally, the business offers Collect Plus, a Post Office counter with commissions of approximately £14,000 Per Annum, a Payzone terminal (approx. £300 per week) and a Lotto terminal (£1000 per week). The business has a healthy News bill of roughly £1000 per week.
Spar Convenience Store has an impressive number of regular customers many of whom use the business on a daily basis.
The business enjoys great visibility on the internet.
Reasons to Buy
• A well-established business with an enviable reputation and many regular customers
• Low running costs with inexpensive rent and low business rates
• Little or no competition locally
• Current owners happy to offer a handover to ensure the continued success
• Ideal owner managed or partnership business
• Priced to sell, business actually values higher but is being marketed at a price to facilitate a quick sale
• Beautifully presented and maintained and all fixtures and fittings included in sale making this a real Turnkey opportunity.
Hilton Smythe highly advise early viewing to avoid disappointment. This great business is likely to attract considerable interest.
This is a discreet sale and staff and customers are not aware that the business is being sold. Potential buyers are therefore requested to arrange viewings only through sole agent, Hilton Smythe.Location
Spar Convenience Store is located in Shrewsbury in the county of Shropshire.
Shrewsbury is the county town of Shropshire. The town is on the River Severn and the 2011 census recorded a population of roughly 72,000. Located 9 miles east of the Welsh border, Shrewsbury serves as the commercial centre for Shropshire and Mid Wales with a retail output of over £299 million per year.
The A5 and A49 trunk roads come together as the towns by-pass and five railway lines meet at Shrewsbury Railway Station. The town is located 150 miles north-west of London.
The business is situated in an unopposed and prominent corner position at the end of a small shopping parade in the centre of a densely populated residential area comprising a mix of property types with both private and rented accommodation and thus benefits from unusually high levels of footfall.
The business is very nicely presented and maintained with visible clear signage and the distinctive ‘Spar‘ branding. There is free on street parking nearby.Premises
The business occupies the ground floor of generous, end terraced retail unit and briefly comprises;
• Double entrance doors
• Generous store that has been cleverly designed to maximise the space available
• Tiled floor
• Suspended ceiling with concealed LED lighting
• Bespoke counter with tills and generous wrapping area
• Cigarette gantry behind
• Post Office counter
• ATM machine
• RIJO coffee machine
• Perimeter shelving
• Open sandwich and snacks chiller
• Bread and cake display
• Glass topped food freezers x2
• Triple stacked ice cream freezer
• Fruit and vegetable section with plastic baskets
• Freestanding banana display
• Central shelving gondola running the length of the shop
• Long open chiller to rear
• Hanging area for bagged goods with hooks
• Further long open chiller
• Drinks chiller with 6 glass doors
• Drinks chiller with 3 glass doors
• Generous Room with concrete flooring and fluorescent lighting
• High level windows to side
• Door to secure yard
• Walk in ‘Polysec’ chiller
• UNOX commercial convection oven
• Stainless steel preparation table
• Perimeter shelving and ample floor storage space
• Interleaving double door commercial fridge.
• Range of high gloss
• White base units
• Stainless steel sink and drainer with water heater above
• Inset stainless steel hand wash basin with Redring water heater
• Space for desk and filing cabinets etc
• Steel safe
• 16 camera CCTV monitor.Tenure
We are advised that Spar Convenience Store is being sold as a Leasehold business opportunity.
The existing 6-year lease has approximately 3 years remaining, but we are advised that the landlord would be happy to negotiate a mutually acceptable lease with a new owner.
The rent is £12,500 Per Annum which is really reasonable given the size and location of the premises.
We are advised that the business rates payable are £3888 Per Annum.Hours
Monday to Sunday 7.00 am – 10.00 pmStaff
The business is run and managed by our 2 clients with the help of 8 full time and 8 part time members of staff.Financial Profile
Spar Convenience Store generated an advised turnover of circa £1,250,000 as of the 2017 accounts with a gross profit of approximately 20%.