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Shop for sale

Cattle Market Street, Fakenham, Norfolk, NR21

405 sq. m.

Property Description

Commercial information

  • Business for sale
  • 4,359 sq ft (405 sq m)

Key features

  • REF: 12460

Full description

Tenure: Freehold

Leasehold option available for £84,995 +SAV.

Hilton Smythe welcomes to the market Wheelspeed. The business was originally set up by our client in 1975. This is a family run store that is very popular with the locals. The owner is now however looking to sell the business due to the desire to take a well-deserved retirement.

The business runs as an accessory store for car and motorcycle parts. They are open 6 days a week and receive trade from repeat loyal customers. They offer service items, coolants, treatments, tools, batteries and much more.

The store generates an advised turnover of around £100,000 per annum with a gross profit of around 45%. There is the option to boost this. One way to do so would be to utilise the space in the warehouse. The front of the warehouse is the sales area and to the rear is the large space which is used for old stock. This space could be used as more retail space or as a garage area.

The new owner could look to introduce small repairs and services. This would be a great bonus to the business and could increase trade. There is also the option to auction off old stock on auction sites such as eBay, this should generate some extra cash and would also free up some space.

The business does have a website from which it shows what they offer. This site could be changed into an e-commerce website and would attract custom from a more further afield.

We are advised that developers previously wanted to purchase this site, which our client refused. Our client also started to offer bike sales, however this was too much to do. The new owner could look into this option. This is a fantastic business opportunity for a purchaser with interest in the trade. Hilton Smythe highly advise early viewing to avoid disappointment.

Wheelspeed is located in the town centre of Fakenham, Norfolk.

This is a densely populated location with a plethora of business around. Close by there is a pub, hair salon, café, convenience store and much more. There are many independent shops and a few larger well-known brands. This is a bustling town centre with a great amounts of trade.

The business is just a short drive from the A148. This road runs from Kings Lynn up to Cromer. There are also great public transport links in the area such as the many bus stops, which have regular daily routes. There is also a train station just a short 20 minute drive away.

The business is located on a large site that is fenced off from the main road. There are 8 parking spaces at the front of the building for customers and staff.

The premise is made up of a large warehouse. The front of the warehouse is the main retail area. Through to the rear is a large storage area for old stock. This space could be utilised more with shelving. There is a kitchen for staff. The premise is complete with gas and electricity.

There is also an outer house which is located at the back of the warehouse. The roof of this building needs repairing, but it is set up with electricity.

The premise has signage on the side and on the roof.

We are advised the business is Freehold.

Leasehold option available for £84,995 +SAV.
Rent £18,000 per annum.
Terms to be negotiated.

We are advised the business is Freehold.

The business is run and managed by our client with the help of family members.

The business generates a turnover in the region of £100,000 per annum.
Gross profit 45%

Map & Street View

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