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Shop for sale

High Street, Stevenage, Hertfordshire, SG1

Guide Price £80,000

Property Description

Commercial information

  • Business for sale

Key features

  • Excellent high street location
  • Advised weekly income approx. 9,000
  • Refurbished in 2014
  • Open 365 days a year, viewing recommended

Full description

Tenure: Leasehold

DESCRIPTION
Kandola Stores is located on the main high street within the well populated and affluent market town of Stevenage, Hertfordshire. The town is extremely busy throughout the day, with commercial clients and local residents as the business is surrounded by a large number of residential dwellings, along with independent retailers and national chains such as Prezzo, Pizza Express and Costa Coffee.

The business was purchased by our client in 2014, although there has been a convenience store operating from the same building for over 30 years. Since taking ownership the current owner has established a regular customer base, given the location on the high street and ample 3 hour free parking.

The area surrounding the business has continual footfall all day due to the main road which benefits from various bus routes.

We have been advised by our client that since their acquisition in 2014, the business underwent a major refurbishment program and re-branding in order to provide the current set up, which now includes modern fridges and energy saving lighting.

The store retails an extensive range of soft drinks, beers and wines which are all displayed in modern chillers and good quality shelving. The business also stocks a good selection of everyday goods plus confectionery, newspaper and magazine titles, dairy products, frozen and convenience foods, National Lottery and a small selection of greeting cards.

This store is a thriving and highly lucrative business, yet still offers terrific scope for future growth and would therefore ideally suit an energetic family unit who can develop the business to its true potential, which will undoubtedly increase the weekly sales whilst ultimately enhancing overall profitability.

WEEKLY SALES
Advised weekly shop sales in the region of 9000 per week with good gross profit margins.

LOTTO
National Lottery sales are in the region of 1200 - 2000 per week.

ACCOUNTS
Current records and accounts can be inspected after a viewing by genuinely interested parties.

TRADING HOURS
Open 365 days a year.
Monday to Saturday 06:00 - 21:00
Sunday 07:00 - 20:00

STAFF
Managed by the owners along with a mix of full and part time staff.

PROPERTY
Highly visible, mid terraced period property offering spacious ground floor retail space, along with an additional first floor which could be used for accommodation STPP.

TRADING AREAS
The sales area is bright and airy creating a welcoming environment and was completely re-fitted in May 2014 when our client took ownership. The business has been fitted with a comprehensive range of good quality, modern fixtures and fittings, CCTV and ample refrigeration which include a 4m beer and wine fridge and a 4m fridge for soft drinks, dairy products and pre packed sandwiches. The remainder of wines and spirits are well displayed on good quality shelving, along with central carousal display units.

RESIDENTIAL ACCOMMODATION
On the first floor there are two rooms which could be used for owners/management accommodation subject to landlord approval and planning permission being granted.

TENURE
We are advised that the property is held on a 10 year lease which commenced in May 2014. The annual rent for years 1, 2 and 3 is 15,750 exclusive. The annual rent for years 4 and 5 is 17,750 exclusive (correct as advised on 25.09.15). Rent reviews are at 5 yearly intervals.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.

SUMMARY
A fantastic opportunity to purchase a successful, thriving business situated on the main high street, in a densely populated residential area of Hertfordshire and presented in an excellent condition.

A viewing is highly recommended to fully appreciate the quality of the premises and overall business.


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