Hilton Smythe are pleased to have been given the opportunity to manage the sale of Lea Store which is a well established village shop 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 village shop at these premises since the early 1900’s and it is no exaggeration to say that this wonderful shop really is at the heart of the local community. The current owners, a father and son team have run the shop for the last 3 years and it has been a real labour of love for them which is reflected in the year on year increase in turnover and also a substantial improvement in the number of regular customers, many of whom are known on a first name basis.
The business is now being sold, albeit reluctantly and with a heavy heart only due to a wish to take and enjoy a well earned retirement (Dad). The owners are keen to see their beloved village shop pass to an ambitious and entrepreneurial new owner (s) who can take this already thriving business to the next level.
Lea Stores is beautifully presented and extremely well stocked with a range of products including;
- Newspapers and Magazines
- Tobacco products
- Frozen foods
- Ice cream
- Fresh fruit and vegetables
- Freshly baked bread
- General groceries
- Household items
- Greeting cards and wrapping paper
- Beers, ciders, wines and spirits
- Crisps and snacks
- Hot drinks to takeaway
- Cold drinks
- Sandwiches and snacks
- Milk, eggs and dairy products.
The business has had a new EPOS system installed recently along with an 8 camera CCTV system.
The business has an impressive weekly news bill of approximately £900 which comes from over the counter sales.
There is a considerable amount of residential building going on locally. Squires Meadow is offering 39 new homes and Willow Walk another 39. There are 10 new homes also being built for occupation in Autumn 2019. This will obviously increase footfall considerably.
This genuinely presents a fantastic opportunity for a lucky new owner
Scope to Improve
- Advertising and marketing campaign (perhaps a leaflet drop locally)
- Website to extol products and services provided
- Maximise the use of social media particularly Facebook and Twitter
- Extend the opening hours (real demand for this)
- Introduce Paypoint or Payzone (again customers often request this facility)
- Introduce Lotto
- Potential to include a Post Office, real demand for this as locals are currently relying on a mobile Post Office which visits the area infrequently.
- Offer a delivery service, lots of older residents locally who would find this useful
- Consider stocking flowers, bedding plants, shrubs etc. There is a lovely gravelled garden to the rear which could accommodate this.
- Enlarge the sales area, there is space behind the existing shelving to facilitate this.
Reasons to Buy
- A well established business with an enviable reputation and many regular customers
- Would suit a new owner who would like to immerse themselves in the local community
- A wonderful Lifestyle business offering a lucky new owner the opportunity to live and work in a beautiful and sought after Herefordshire village
- Includes generous, quirky living accommodation
- Ideal owner managed or partnership business
- Lots of residential building locally which will increase footfall and turnover
- A real opportunity to increase turnover significantly, current owners have been running at a pace to suit
- Low running costs with inexpensive rent and no business rates
- Little or no competition locally
- Current owners happy to offer a handover to ensure the continued success
- Priced to sell
Hilton Smythe highly advise early viewing to avoid disappointment, first to see will buy!
This wonderful business is likely to attract considerable interest.Location
Wonderful lifestyle business with generous living accommodation and lovely gardens.
Lea Stores is located in Lea, near Ross-On-Wye in Herefordshire.
Lea is a village and civil parish in the South East of Herefordshire, Just south east of Ross-On-Wye and adjoining Gloucestershire. Amenities include a school, Church, Village Shop (Lea Stores) and a Public house, all of which lie on the A49 road which passes through the village.
Ross-On-Wye is a small market town with a population of 10,700 (according to the 2011 census) located on the River Wye and on the northern edge of the Forest of Dean. The town is known for its independent shops, picturesque streets and market square with its market Hall.
The business is close to Lea Primary School.
Regular Thursday and Saturday markets are held at the red sandstone Market House building in the town centre, which was built between 1650 and 1654 replacing the older, probably wooden Booth Hall.
Today, although the nearest railway station is Ledbury on the Cotswold Line, Gloucester has a much better bus connection with Ross and is a major interchange on the national rail network.
To the east of the town is the end of the M50 ‘Ross Motorway’ spur from the M5 motorway which links the area to the UK motorway network.
Lea Stores is perfectly situated in a main road position and thus benefits from high levels of footfall, regular custom and passing trade. The business is nicely presented and maintained with clear visible signage and distinctive green livery. There is free on street parking immediately outside the premises.
Lea Stores occupies a period style, detached property and briefly comprises;
Windows and glazed door to front creating a light airy and inviting interior, cleverly designed to maximise the space available, high ceilings with fluorescent lighting, tiled floor, bespoke counter with till and generous wrapping area, cigarette gantry and spirit shelving behind, Nescafé coffee machine, confectionery section, open chiller, dairy chiller, Goodmans microwave oven, two glass topped food freezers, perimeter shelving, central shelving gondola, double glass fronted drinks chiller, two wall mounted security mirrors, hanging section for bagged sweets, glass topped ice cream freezer, wine and beer shelving, fruit and vegetables racking, open fruit and veg chiller, two glass fronted drinks chillers for beers and wines, greeting card racking with wrapping paper dispenser.
Generous stockroom with perimeter shelving and ample floor storage space, cupboard housing substantial key safe.
Generous veranda with door and windows to rear and overlooking the lovely gravelled gardens, stone floor, freestanding shelving and two upright fridges
Generous kitchen with a range of dark wood base and wall units with complimentary worktop, tile floor, stainless steel 1 ½ bowl sink with Monobloc tap, Leisure range style cooker with twin ovens and halogen hob, commercial induction oven
Dry Goods / Freezer Room
With window to side, two chest freezers, washing machine and freestanding shelving
With window to side and close coupled toilet.
A lovely room which is generously proportioned with windows to front, beamed ceiling, lovely stripped floor boards, feature fireplace with stone hearth and multi fuel wood burner.
Very generous bathroom with bath, pedestal wash basin and close coupled toilet, Mira electric shower, airing cupboard, washing machine point.
Double, Window to side, built in shelving, currently used as a home office
Good sized double, window to front, built in cupboard
Generous double, windows to front, beamed ceiling, two useful built in cupboards
To the second floor is a generous attic room with feature beamed ceiling and Velux roof window.
A particular feature of this business are the lovely gardens to the rear of the shop, well established pond, chicken coop, flower beds and gravelled seating areas, there is room for a number of vehicles and there is also a detached work shop and timber shed.Tenure
We are advised that Lea Stores is being sold as a leasehold business opportunity. The existing lease has approximately 7 years remaining.
The rent is £9000 per annum which is incredibly reasonable given the size and location of the premises.
The business benefits from being exempt from business rates.Hours
Monday to Friday 7.30am -6.00pm
Saturday 8.00am -6.00pm
Sunday 8.30 -1.00pmStaff
The business is run and managed by our clients (2) with the help of two part time members of staff.Financial Profile
Lea Stores generates an advised current annual turnover of circa £370,000 and the business continues to grow at an impressive pace.