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Convenience Store for sale

Millstone Lane, Leicester, Leicestershire, LE1

225 sq. m.

Property Description

Commercial information

  • Business for sale
  • 2,421 sq ft (225 sq m)

Key features

  • REF: 2358

Full description

Tenure: Leasehold

Hilton Smythe is delighted to welcome to the market this well-established and busy Spar convenience store in the city of Leicester, Leicestershire. The business was established by our client in 2009 and is only now being offered to the market due to our client`s other business interests. The business operates 7 days per week and generates a turnover in the region of 542,000 with a gross profit of approximately 25% as per 2015 accounts.

The turnover is generated from the sale of general convenience lines, newspapers, alcoholic beverages, tobacco products, Lotto, Paypoint and snacks/sandwiches, which are freshly prepared in store. The business has built up an enviable reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a large amount of repeat trade and word of mouth recommendations.

We are informed there are new student accommodation projects being developed close by, which will further increase the turnover. We feel there is scope to increase the turnover by developing the fast food sales side of the business, by offering food into the evenings, as currently this side of the business finishes at 4.00pm. A new owner could also have a small marketing campaign to market the business and the services offered, as there is very little advertising in place.

The premises are very well-presented with racking and shelving throughout. This is an excellent opportunity for a new owner, perhaps a husband and wife team, to take this thriving and popular business to the next level; therefore early viewing must come highly recommended to avoid disappointment.

This very busy Spar convenience store occupies substantial two-storey premises, ideally located within the centre of the city of Leicester, Leicestershire. The property occupies a substantial and prominent corner trading location within the city and benefits from a very high volume of footfall and passing trade. The business is surrounded by a wealth of complimentary shops and businesses, from which the business derives a lot of its trade.

The business is also opposite the very busy De Montfort University, which has approximately 27,000 full and part-time students and 3,200 staff members. We are advised that more student accommodation is currently being built within walking distance of the shop, which should be completed by October 2016 and will increase passing trade massively. The business benefits from ample parking facilities within the vicinity.

Leicester is a city in the East Midlands of England and it lies on the River Soar, at the edge of the National Forest. In the 2011 census, the population of Leicester unitary authority was approximately 330,000. The area of the business is well served by the public transport system with several bus stops within easy walking distance of the property. Leicester railway station is just over 10 minutes` walk away. The area is also well served by the A-roads, with the business being located on the A594, which links to the vast A-road and motorway networks. Loughborough is approximately 12 miles away and Birmingham is 43 miles away.

Two-storey corner premises in a prominent trading location, briefly comprising:

Ground floor:

2 x central display aisles.
Perimeter racking and shelving to suit trade.
4 x two section open chiller units.
Three section open chiller unit.
Upright double door display freezer.
Upright triple door drinks chiller unit.
Three tier ice cream freezer.
Coffee machine (One month old - Costa coffee).
Twin serve over counter with two EPOS registers.
12 x camera CCTV

Food preparation area with:

Fosters refrigerated serve over counter.

Kitchen with:

3 x microwave ovens.
Double deep fat fryer.
2 x under counter refrigerators.
Upright freezer.
Upright refrigerator.
Double bowl sink unit.
4 x stainless steel preparation tables.
3 x rear stock rooms, which are racked and shelved with separate delivery door.
3 x staff WCs.

First floor:

Private office area.


Layby for 2 x vehicles.

We are advised Leasehold: New lease to be agreed.
The business is open:

Monday - Friday: 7.30am - 11.00pm
Saturday: 8.30am - 11.00pm
Sunday: 9.30am - 11.00pm

The business is owner run and managed with 2 x full time and 3 x part time staff members.


The business generates a turnover in the region of 542,000, with a gross profit of approximately 25% as per 2015 accounts.

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