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Shop for sale

Newbottle Street, Houghton Le Spring, County Durham, DH4

Under Offer £27,500
85 sq. m.

Property Description

Commercial information

  • Business for sale
  • 914 sq ft (85 sq m)

Key features

  • REF 12572 A

Full description

Tenure: Leasehold

The business is located in the historic town of Houghton-Le-Spring, Tyne and Wear.

Kool Kidz occupies a prime trading location on the main road at the heart of the town centre with a collection of local and national retailers, cafes, post office, convenience store, bookmakers and other retail businesses nearby. We are advised a new Lidl store has recently been built to the rear of this business which has only increased the already high footfall in the area. The business benefits from. free car parking nearby.

The area of the business is well-served by the public transport system, with a bus stop a short walk away. The nearest railway station is just over 6 miles away in Seaham, there is also a station 7.5 miles away in Durham. The area is well-served by the A-roads, with the business being located just off the A182, which links to the national A-road and motorway networks. Durham is approximately 7 miles away and Sunderland is 10 miles away.
Hilton Smythe welcomes to the market the high end children's cloths shop Kool Kidz.

The business was established over 11 years ago, with our client continuing to build this successful business since inception in 2013. The business reports a healthy turnover of 99,000 for this financial year with a gross profit around 54%, with a projected turnover at 100,000 for 2017. VAT is not payable on children's clothing, this a great plus that benefits the turnover figure. Business rates are also non-vatable.

Kool Kidz retails clothing, shoes and accessories for babies, toddlers and kids with stock changing throughout the seasons. The business boasts exclusivity rights in the region for brands such as Little Darlings, Sarah Louise, Tutto Piccolo, Co-Co, Nini, Abella, Satila, Lelli Kelly, Mayoral and Laranjinha plus many more brands. The store is very well known in the area, seeing a high amount of repeat trade and further benefits from passing trade due to the fantastic location within the town centre.

The store is beautifully presented both externally and internally with products clearly displayed into age groups. On the second floor is a further retail area currently mostly utilised for storage. This space opens up the potential to extend the current lines or introduce new merchandise into the store.

The business has a user friendly website with an e-commerce section, although we are advised this feature has not been promoted. We believe with a modest marketing campaign the potential to increase sales on-line could prove very lucrative. The business also has a presence on social media website Facebook with over 4600 likes and regular features and updates.

Early viewing of this turnkey business venture is highly recommended with the business genuinely coming to the market due to our client's other interests and family commitments. Our client would also be willing to pay the purchasers solicitors costs.
Well-presented and colourful frontage with vibrant signage.

Main entrance from street into spacious and bright retail premises. Perimeter and centre displays throughout the ground floor with the serving point and till to the rear.

To the right are stairs leading up to the first floor.

This opens up into another retail area, fitted out with shelving and display stands, although it is mainly used by the current owner for storage.

To the rear is a kitchen area and a separate office.

A rear exit on the first floor leads to a car park and access to the new Lidl supermarket currently under construction. A brick built building houses the toilet for staff.

All general fixtures and fittings, display stands, racks and rails are included.

Electronic shutters to the front, CCTV throughout the store and an alarm provide the security. The rear exit on the first floor is also secured with CCTV, a steel security door and electric shutters.
We are advised the business is being sold as a Leasehold opportunity.
The original lease length is 10 years, 4 years remain on the lease.
Rent is 930 per month.

We are advised that the landlord will be happy to negotiate a new lease of up to 5 years.

The business opens:-

Monday to Saturday 9.00am - 5.00pm
Sunday: Closed
The business is owner run and managed with the assistance of 1 part time member of staff.

The business reports a healthy turnover of 99,000 for this financial year with a gross profit around 54%, with a projected turnover at 100,000 for 2017. VAT is not payable on children's clothing, this a great plus that benefits the turnover figure.

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