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Convenience Store for sale

Commercial Road, Hereford, Herefordshire, HR1

64 sq. m. | £55,000

Property Description

Commercial information

  • Business for sale
  • 688 sq ft (64 sq m)

Full description

Tenure: Leasehold

BUSINESS
Hilton Smythe is delighted to welcome to the market C R News. The business was originally established in the 1960's. However our client first took over the store in 2013. The owner is now looking to sell the business due to the desire to focus on other business interests.

The business runs as a newsagents selling a range of newspapers, greeting cards, magazines and confectionary. They also offer a Payzone, photocopier and the Lottery. We are advised the lottery has only very recently been introduced to the store, and generates a turnover of around 500 per week.

Other income-
Payzone 500 - 600 per week
News Sheets 1,300 per week.

These services are a great source of income on top of the sale of stock. We are advised the current turnover is around 295,000 per annum with a gross profit of 22%. This is a healthy turnover that could be increased in many ways, such as-
Extend opening hours
Reintroduce delivery rounds
Offer a parcel collection/delivery service
Apply for an alcohol licence

Above the store is a three bedroomed flat which is currently let out. This provides a great rental income which is a bonus. The accommodation could be used by the purchaser if required.

There is little competition in this area and so the business sees a generous amount of repeat loyal trade. This is a perfect bolt-on or first time opportunity. Hilton Smythe highly advise early viewing to take in the full potential of this store.

LOCATION
C R News is located in Hereford, Herefordshire.

The business is situated on one of the main roads into Hereford town. This is a busy main road that benefits from heavy footfall daily. The area has an abundance of business, close by there is a pub, beauty salon, party store, several restaurants, takeaways and more. Directly outside the store is free on street parking bays.

Hereford is a bustling town with a range of things to do. This is a popular tourist town, with a shopping centre, museums, art galleries and much more. Close by to the store is the Hereford County Hospital and Robert Owen Academy. Due to the close proximity the business does receive trade from students and visitors of the hospital.

The road on which the business is located runs from Hereford through to Worcester. There are bus stops and a train station close by with direct routes into the surrounding towns.

PREMISES
The front of the store is well signed, clear to passing trade. This is a double fronted store with large display windows across the front. This allows for a bright and airy retail space.

On entrance there is a large counter with displays across the top. The store has a large open retail space with a central isle. Around the perimeter there are card display racks, shelving and magazine racks.

Equipment includes-
Open drinks/dairy chiller
Magazine and newspaper racking
Counter with epos till
Lottery terminal
Wrapping area
Cigarette gantry
Triple glass fronted ice cream freezer
Photocopier
Greetings card carousel
Coffee machine
Security mirror
Greeting card racking

Through to the rear of the premise is an office space with shelving. There is also a stainless steel sink and drainer with Heatrae Sadia Express 7 water heater. Here there is a tv screen which is connected to the CCTV.

There is a cellar in the property which is also used as storage.

On the first floor of the store is a three bedroomed flat, which has separate access from the shop. The flat is currently occupied by a tenant for 525 per month. This space would also make perfect owners accommodation.

TENURE
We are advised the business is Leasehold.
Lease to be negotiated.

HOURS
The business is open-

Monday - Saturday: 6am - 5:30pm
Sunday: 8am - 2pm

STAFF
The business is run and managed by our client with the help of 1 full time and 3 part time members of staff.

FINANCIAL PROFILE
The business generates a turnover in the region of 295,000 per annum.
With a gross profit of around 22%


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