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Shop for sale

Market Square, SG19

263 sq. m. | £110,000

Property Description

Commercial information

  • Business for sale
  • 2,830 sq ft (263 sq m)

Key features

  • LEASEHOLD
  • REF 3016
  • 3 RETAIL OUTLETS

Full description

Tenure: Leasehold

LOCATION
Lindsay's Bakery occupies three premises, all of which are in prime trading locations, the main shop and bakery is located within the town of Potton in Bedfordshire, the second shop is situated quaint village of Bassingbourn in Hertfordshire and the third is within the village of Gamlingay, Bedfordshire. All three properties are surrounded by densely populated residential areas, from which the businesses derive much of their trade. The businesses further benefit from good car parking facilities within all the areas.

Potton is a town and civil parish in Bedfordshire. The town is approximately 10 miles from Bedford and the population according to the 2001 census was 4,473. In 1783 the 'great fire of Potton' destroyed a large part of the town. Potton is very much a commuter town, with many people commuting daily to either London or Cambridge.

Bassingbourn is a quaint village 14 miles south west of Cambridge. The village has a number of amenities including several shops, a doctor's surgery, a dentist, a garage, a sub-Post Office, chemist, hairdressers and a general grocers. The largest employer within the area is Kneesworth House Hospital.

Gamlingay is a village and civil parish in South Cambridgeshire, near the border with Bedfordshire. It is 14 miles from Cambridge and according to the 2011 census, the village had a residential population of 4,900. Local amenities include pubs, shops, hairdressers, a sports field, a community centre, nursery schools, clubs and societies.

All three properties are well served by the public transport system and have bus stops within easy walking distance of the properties. The nearest railway station to Potton is Sandy railway station, which is approximately 3 miles away, the nearest to Bassingbourne is Royston which is 3 miles away and the nearest to Gamlingay is sandy, 5 miles away.

The area of the businesses are also well served by the A-roads, with all three being within easy driving distance of the A1, which links to the vast A-road and motorway networks.

BUSINESS
Hilton Smythe is delighted to welcome to the market Lindsay's Bakery, which operates three retail outlets in the Bedfordshire/Hertfordshire areas.

The business was originally established in the 1920s and has been in our clients' careful ownership since 1993. Only now is the business being offered to the market due to our clients' desire for a well-deserved retirement. The businesses operate 6 days per week and generate a turnover in the region of 485,000 per annum, with a fantastic gross profit of approximately 70% as per 2016 accounts.

Our clients offer a wide variety of delicious fayre including a large range of fresh breads and rolls, hot and cold rolls and sandwiches prepared daily, pies, pasties and sausage rolls, cream cakes, celebration and wedding cakes made to order and luxury cupcakes, to name a few. Our clients also supply wholesale goods to local farm shops, corner stores, pubs and hotels within a 20 mile radius, as well as some outside catering, mainly buffets.

The main shop offers a spacious sales and display area to the front and a fully equipped bakery to the rear. The premises are extremely well maintained and decorated to a high standard. Both the Basingbourn and Gamlingay shops are both similar ground floor premises, which are also well maintained and decorated to a high standard.

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 very high volume of repeat trade and word of mouth recommendations.

We feel there is scope to increase the turnover by extending the opening hours of the shops. A new owner could also embark on a modest marketing campaign to promote the goods and services offered and perhaps increase the products available. There is also scope to expand the outside catering arm of the business and introduce a sandwich delivery service to the businesses in the local area.

This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already thriving business to the next level; therefore early viewing must come highly recommended to avoid disappointment.
PREMISES
Three substantial premises in ideal trading locations, briefly comprising:

Potton bakery & shop:

Ground floor with:

Main shop area with:

Window display shelving.
Serve over counter.
Ambient display units and shelving.
Chilled display unit.
Drink chiller unit.
Rear kitchen/preparation area with sink unit, hand wash basin, storage cupboards and work surfaces.
Passage through to confectionery area and walk-in freezer.

Main bakery - fully equipped.
Stock room.
Office with desks, PC, telephone system with intercom through to shop and bakery.
Loading bay with 2 x van spaces.

First floor:

Staff room with boiler.
Ladies and gents WCs.
Stock room.
Second preparation room with sink unit, storage cupboards, hand wash basin and cooker point.

External:

Rear access drive to parking/loading area with parking for approximately six vehicles.
Garage to secure one vehicle.

Bassinbourn & Gamlingay properties:

Bothe these are similar ground floor lock-up premises with:

Window display areas.
Ambient display serve over counters.
Chilled display units.
Shelving display areas.
Drink chiller units.

Both have rear kitchens with storage cupboards, sink units, work surfaces and rear exits.

External:

Bassingbourn - one allocated parking space to front of shop.
Gamlingay - side access drive with one allocated parking space to rear.

A full inventory of the equipment included is available.

TENURE
We are advised Leasehold:

Potton:

Original lease length: 15 years
Remaining lease length: currently a rolling lease
Rent: 24,000 per annum

Bassingbourn:

Original lease length: 15 years
Remaining lease length: currently a rolling lease
Rent: 7,100 per annum

Gamlingay:

Original lease length: 15 years
Remaining lease length: currently a rolling lease
Rent: 4,350 per annum

New leases available for all three shops.

HOURS
The business is open:

Monday: 8.00am - 3.00pm
Tuesday: 8.00am - 3.00pm
Wednesday: 8.00am - 3.00pm
Thursday: 8.00am - 2.00pm
Friday: 8.00am - 3.00pm
Saturday: 8.30am - 1.30pm
Sunday: Closed

STAFF
The business is currently owner run and managed with 24 x staff members.

FINANCIAL PROFILE
The businesses generate a turnover in the region of 485,000 per annum, with a fantastic gross profit of approximately 69% as per 2016 accounts.


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