Convenience Store for sale

East Cowes, Isle of Wight

£275,000

Property Description

Key features

  • Great investment opportunity
  • Huge growth potential
  • Freehold property
  • Established location
  • 3 or 4 bed Flat above

Full description

Tenure: Freehold

Reference
04386

Turnover
£225,000

Current asking price
£275,000

Primary business type
Convenience Store

Opportunity
Intelligent Business Transfer are pleased to bring to the market an excellent opportunity for a new buyer to purchase the freehold property of a well-established convenience store.
The current owners have traded since 2004 and built a lot of goodwill amongst its loyal and local customer base - a reputation reinforced by a community-spirited delivery service to local sheltered housing for the elderly. Under varying ownerships, the property has been a Grocers/Convenience Store since 1953 making it an institution within the neighbourhood.

The business has shown consistent sales performance and now achieves an annual turnover of £225,000, relying on loyal custom and minimal local marketing for its organic growth. However, the opportunity represents a fantastic investment in the hands of a motivated new owner with plenty of scope to double the existing turnover. Growth could be achieved by extending the opening hours into the evening (currently the store closes at 6pm) and potentially opening for longer on a Sunday. At present, the shelves are stocked with a limited product range, yet simply offering a wider choice and more branded items would be a move supported by its customer base – no doubt leading to more frequent visits and increased average spend values.

In addition to the stores huge growth potential, the property has a spacious 3 or 4-bedroom flat above the retail space. The accommodation includes living room, kitchen, new bathroom, 3 bedrooms (with option for a fourth bedroom if the feature Bar was removed) with recently upgraded triple glazed windows throughout. Outside, the property benefits from a spacious double garage and a large garden to the rear. Twelve Solar Panels on the roof earn an annual income of £800-£1200 as well as monthly electricity savings of £200.

Intelligent Business Transfer have been approached to find a suitable buyer for this great investment opportunity ideally suited to an entrepreneur, or a couple/family looking to acquire their first Convenience Store.


Nearest station

  • Ryde Pier Head (5.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

INTELLIGENT BUSINESS TRANSFER LTD, Leeds

Rose Wharf 78 - 80 East Street Leeds LS9 8EE

0113 451 0436 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Ryde Pier Head (5.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

INTELLIGENT BUSINESS TRANSFER LTD, Leeds

Rose Wharf 78 - 80 East Street Leeds LS9 8EE

0113 451 0436 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 04386. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by INTELLIGENT BUSINESS TRANSFER LTD, Leeds. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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