Business for Sale in Norwich, Norfolk - BUSY CONVENIENCE STORE - NORWICH, NORFOLK - Leasehold: £175,000

Key Information

Ref
G35087E
Type
Retail Businesses: Convenience Stores
Location
England: Norfolk
Tenure
Leasehold
Status
Under Offer
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Please fill the form in below to request particualrs via e-mail for Business Ref : G35087E

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Call us on 01603 662662
  • Busy City Centre Location
  • Retail Space c.60sqm / 645sqft
  • Well Presented and Good Use of Space
  • Scope to Extend Hours
  • Desirable St. Bendict’s Street
  • Average Turnover In Excess of £13k per week
  • Good Size Rear Store and Office
  • Alcohol Licence
  • Great Trade in Filled Rolls
  • Call for Further Details

PARTICULARS
EMF are delighted to be appointed to market this busy convenience store situated just off the city centre on the highly desirable St. Benedict’s Street. Boasting a strong weekly turnover and with little immediate competition this is likely to be of much interest to potential buyers.

With the current high demand for this type of business we would urge you to contact us at your earliest convenience to arrange a viewing.

THE BUSINESS ITSELF
The vendor has owned and run the business since 2016 and is now only reluctantly putting it up for sale due to the family relocating. Since acquiring it the vendor has done an excellent job of building the business up and refitting the premises meaning that it is in great order for a new owner to take it on-wards.

With a turnover of c. £700k per annum demonstrating what a good site this business is situated at, and with an opportunity to increase the current opening hours to pick up the busy evening trade that there is in this particular location. It is noted that the vendor has taken a more hands off approach to running the business having the benefit of a great staff team but this provides a new owner with the option to do the same or to take a more hands on role which would increase margins accordingly.

The well stocked business offers a wide selection of convenience products and especially does well with sales of freshly made breakfast and lunch rolls, hot and cold drinks, alcohol and tobacco. They also provide a small range of newspapers and magazines. Lotto and Payzone services are provided as are monthly accounts for local businesses in the street.

PREMESIS
ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The shop occupies the ground floor of this attractive end of terrace property and is split level with the private store room and office being set down a few steps. Being on the end means that there is a convenient side entrance to the rear store for deliveries.The front facade is glazed providing lots of natural light and a warm welcome and the shop benefits from C.C.T.V and air-conditioning. The main retails space is c. 60 sqm/645 sqft.

Internally there are 2 central double-sided, free-standing product display shelving units with access through the middle straight to the service counter. Each side wall provides a range of display fridges with 3 double door drinks fridges, a single wine display fridge, a large open fronted refrigerated unit for food products, single milk fridge, a double door upright freezer and an ice cream freezer. There are also Coca Cola, Monster and Red Bull drink display fridges however these are provided by the drinks company and not specifically included in the sale.

There is an almost full width service counter with shelving for confectionery underneath and with 2 full EPOS (leased) till points and coffee machine above and with tobacco and spirits behind.

Behind the service counter and to the side is a hallway leading to the rear store on which is a small kitchenette with sink and staff toilet. Down the steps to the store measuring c. 35sqm/375 sqft overall to include the main room plus the office and drinks store off. There are 2 tall fridges, 2 chest freezers, a domestic cooker, fridge/freezer and a George Foreman grill. In addition there are a range of fitted cupboards, work surfaces, shelving and racking to provide storage and work areas. The drinks room has extensive shelving for bottles and boxes and the managers office provides room for a desk and further shelving.

FURTHER INFORMATION

REFERENCE NUMBER
G35087E.

OPENING HOURS
Monday & Tuesday 7:00am to 6:00pm, Wednesday, Thursday & Saturday 7:00am to 7:00pm, Friday 7:00am to 8:00pm, Sun 8:00am to 4:00pm.

TENURE
Leasehold - The existing 20 year lease runs from December 2012 so has just over 11 years remaining but with the option to break in year 14.

RENT PAYABLE
£18,600 per annum.

Purchaser will be responsible for the landlords costs and fees in connection with the assignment of/or grant of new lease.

RATES PAYABLE
We are advised that the business currently benefits from Small Business Rate Relief and as such has nil rates payable.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC
The property currently has a ‘C’ (70) Rating. Full Energy Performance Certificate available on request.

PRICE
£175,000.

For the benefit of the goodwill, fixtures, fittings & equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

VIEWING
Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

FINANCE
Finance may be available to suitable purchasers.

BUSINESS TO SELL?
Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

PREMIER MARKETING
We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?
Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

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