Furniture Shops for sale in Southsea

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Furniture Retailer With Loyal Customer Base

Southsea, Portsmouth, England

  • Leasehold Price: £79,950
  • Turnover: £300,000
  • Gross Profit: £108,000
Seller Reference: B04711
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Business Description
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Seller Reference: B04711
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Business Description
Hilton Smythe welcomes to the market Mr Pine & Sons, one of Hampshire's most well-established furniture businesses, which opened its doors in 1986.

The business comes with excellent customer reviews displayed on both its Facebook and Webpage.

The unrivalled furniture business specialises in made to measure furniture in Oak, Pine, Beech, painted furniture and a large range of beds and mattresses.

The large showroom offers an extensive range of bedroom furniture, living room, office, beds and mattresses to either take away or have delivered (free local delivery offered).

Our client uses around 10 trusted suppliers whose relationship ensures both the right ranges and custom-built pieces are always available. All deliveries are made direct to the unit avoiding additional holding costs of higher stock levels.

Our client adopts a mainly local advertising campaign with both local newspapers, local radio, trade directories and word of mouth. Customers come in direct looking for the right advice and examples of the furniture they are looking for. There is also a very healthy commercial side from local landlords looking to refurbish student let properties.

Mr Pine & Sons occupies a highly desirable industrial unit on the well-known Partnership Park, Southsea, Portsmouth.

The business is surrounded by major destination blue chip companies including Howdens, Hilton and Enterprise car rental as well as Tesco’s.

This area of Southsea is hive of new development both industrial and residential projects.

Rodney road is located just off Union Rd which is the main link road connecting visitors from the nearby A27 and the centre of Portsmouth.

Ground floor - Small admin office, new kitchen and toilet facilities.

Approximately 3000 sq. ft of display area.

Separate delivery bay

1st floor - approx. 2750 sq. ft of further display area.

2nd floor - approx. 1000 sq. ft display area (mainly for beds and mattresses ranges)

Front parking - for approx. 3 x vehicles and delivery van.

Large full height electronic shutters for delivery access.

Delivery van included

We are advised the business will be offered as a Leasehold opportunity with a new Lease to be offered to any new buyer by our client who also owns the Freehold.

We are advised the business rates payable for this current year are in the region of £8,000.

Monday to Saturday 9.30am-5.00pm
Thursday 9.30am-6.00pm
Sunday 11.00am- 4.00pm
Bank Holidays 10.00am-4.00pm

Currently the business is run and managed by our client with some occasional ad hoc help when required.

Financial Profile
We are advised by our client that the 2018 accounts will show around £300,000 turnover a 25% increase in the previous year. Gross profit will be between 35-37% which is in line with the previous 2 years.

We are advised the current stock levels are between £40-£50,000.

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