Convenience Store for sale

Cleaves Convenience Store, 46 Barton Drive, Newton Abbot, United Kingdom, TQ12 1PD

£370,000

Property Description

Commercial information

  • Business for sale

Key features

  • Prominent Convenience Store
  • Adjusted profits circa 50,000
  • Large 3 bed accommodation
  • Highly populated residential area
  • Husband and wife run business
  • Limited opening hours - upside potential. Energy Rating C

Full description

Tenure: Freehold

Description

Cleaves Convenience Store is a freehold detached two storey brick built property under a tiled pitched roof. The property trades under a private branded facia. The store is accessed from a raised level flooring directly from the pavement. The property front has a display window and a single door to its entrance.

There is on street parking for several cars to the front. We understand from the vendor that the store is being constantly updated and maintained throughout to ensure the highest level of quality as well as going through an extension program in 2006.

Location

Cleaves Convenience Store is located in the market town of Newton Abbot, South Devon. The business benefits from being within a densely populated residential area, that brings with it high footfall levels and opportunities to diversify.

The town benefits from a variety of amenities, ranging from hotels and campsites to local independent shops complementing the store. There are large development works ongoing within the town and its outskirts to enhance the population levels, thus also increasing the appeal to the tourist volumes. The town is situated approximately seven miles north of Torquay and 16 miles south of Exeter.

Internal Details

Single fronted shop with private branded facia, glazed entrance and a censored manual door. Approximately 365 sq ft of sales area with further storage areas to the rear. Tiled floor and boarded ceiling with fixed lighting and air handling / conditioning units. CCTV throughout.

One position point of sale opposite entrance with tobacco gantry and associated shelving behind. One central gondola of shelving, approximately three meters of chilled cabinets.

Fixtures & Fittings

We are advised by our client that the fixtures and fittings wholly owned.

The Opportunity

The store has traded in this location for more than 40 years and under the current ownership for the last 14 years. Our client is selling the business to retire from the industry.

Business is derived from traditional convenience sales including tobacco, alcohol, news and magazines, fresh, chilled and frozen foods, ambient grocery products, bread and bakery, hot food, confectionary, snacks and soft drinks.

Cleaves Convenience Store represents an outstanding opportunity to acquire a highly profitable home and income convenience store. The central residential location is pivotal for the stores future success within the community and we believe the business will appeal to existing operators and first time buyers looking for a lifestyle change.

Staff

The business is currently family run but could be put under management if required. There is currently three part time members of staff.

The current owners work according to the season’s trade but do have a hands on approach and work in the region of 25 hours a week.

Trading Information

We have been provided with abridged profit and loss accounts from the year ending 31 May 2013 to 2015.

The latest 2015 accounts show an income of £356,220 and gross profit of £79,227. This also produces an EBITDA of circa £50,000

Profit and loss accounts will be made available to seriously interested parties on request.

Trading Hours

Our clients trade the business from 7:00am – 8:00pm, Monday to Saturday and 8:00am – 7:00pm On Sundays.

We believe there is significant scope to increase trading hours.

Development Potential

At the front of the store is a large patio area, which would be a fantastic base for a new operator to extend the store across the front and maximise the trading space (STPP). Our clients have looked into other possibilities of how to use this space and currently have an outside seated area during the summer months for customers to consume hot and cold food and drink.


More information from this agent

Nearest stations

  • Newton Abbot (1.3 mi)
  • Torre (5.4 mi)
  • Torquay (6.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Exeter

Kings Wharf The Quay, St. Thomas, Exeter, EX2 4AN

01392 799187 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Newton Abbot (1.3 mi)
  • Torre (5.4 mi)
  • Torquay (6.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Exeter

Kings Wharf The Quay, St. Thomas, Exeter, EX2 4AN

01392 799187 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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