Hilton Smythe is delighted to welcome to the market M + M`s Convenience Store. The store was originally established in the 1980’s and was taken over by our client in 1989. Our client has run the store for a very long time and has thoroughly enjoyed owning this successful store in a welcoming community. However our client is now looking to sell the business due to the desire to take a well-deserved retirement.
The store runs as a general convenience store and an off licence selling a fantastic range of products. The business sells household products, confectionary, alcohol, cigarettes, magazines, newspapers, pet products and more.
The business is currently generating a healthy turnover of approximately £885,000 per annum, with a gross profit of 20%. This is brilliant but the store is also a lottery agent and offers a Paypoint.
These generate an extra income of-
Paypoint- £12,000 per week
Lottery- £6,000 per week
News sheets- £700 per week
These are exceptional figures however we feel turnover could be boosted further by opening later hours and by offering a paper delivery round to the local area.
The store also has planning permission for an extension to the rear of the property. This extra space would be fantastic for increasing stock levels and therefore there should be an increase in sales. There is little competition in this area which allows the store to benefit from high trade and repeat loyal custom.
Above the store are 2 self-contained flats which have separate external access. One of the flats is 2 bedroomed which would be perfect as owner’s accommodation. The other is one bedroomed and would generate a fantastic rental income.
This is a fantastic opportunity for an experienced husband and wife team. Hilton Smythe highly advise early viewing to avoid missing out on this highly profitable convenience store.
M + M`s Convenience Store is located on a very busy main road in Kingston upon Hull, East Yorkshire.
This is a fantastic location for a convenience store as there is always a very heavy amount of footfall passing through. This area is heavily populated, much of the property is privately owned. In 2001 the population of Hull was approximately 244,000 and has increased over the years.
There is a handful of independent stores in the area such as a take away, newsagents, laundrette, driving school and much more. Close by is a retail park which consists of eateries an Asda, gym and other stores.
The area is well served by the public transport system. There is a bus stop just a short walk away from the store which has daily routes to Hull town centre. Hull is approximately 1.5 miles away and has many tourist attractions like, Hull Marina, Hull Truck Theatre, Ferens Art Gallery and more. The town is also home to a football ground, rugby stadium and an Ice hockey arena. Hull was originally known for its trading and seafaring.
The business boasts a substantial corner premise complete with the Premier branding, this can be removed as there is no longer any tie. The store is in a fantastic trading location.
On entrance is the large counter with counter top displays, lottery game card dispenser and a cigarette gantry.
The main store is a brilliant size with centre shelving down the middle of the store. The store is fully fitted with appropriate shelving and chiller fridges. The store is well laid out and has an open clean feel.
Newspaper and magazine racks
Range of drinks chillers
EPOS Till system
2 x Ice cream freezer
To the side of the store is an office area with access to the two store rooms. There is also a rear exit and a toilet for staff.
We are advised there is planning permission in place for an extension to the rear of the shop.
Included in the sale are 2 flats both with separate access from the street and both to the first floor. They are situated at opposite ends of the shop so their addresses are on 2 different streets.
2 bedroomed accommodation- Stairs up to main landing with access to large living room, dining room, kitchen, large double room and single bedroom with bathroom and toilet.
1 bedroomed accommodation- Stairs up to a very modern flat with double bedroom with fitted wardrobes and ensuite bathroom with a walk in shower and toilet. The kitchen comes with fully fitted appliances and is open plan with the living room.
The property is well secured with CCTV throughout there is also an alarm which is linked to monitoring station.
We are advised the business is freehold.
The business is open-
Monday - Saturday: 6am – 8:30pm
Sunday: 7am – 8:30pm
The business is run and managed by our client with the help of 6 part time members of staff.
The staff bill is approximately £1,000 per week.
The business generates a turnover in the region of £885,000 per annum.
With a gross profit of around 20%
Paypoint- £624,000 per annum
Lottery- £312,000 per annum
News sheets- £36,400 per annum
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