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Shop for sale

Warwick Street, Leamington Spa, Warwickshire, CV32

£95,000
285 sq. m.

Property Description

Commercial information

  • Business for sale
  • 3,067 sq ft (285 sq m)

Key features

  • REF: 14549 I
  • LEASEHOLD
  • ELECTRICAL RETAIL AND TRADE BUSINESS

Full description

Tenure: Leasehold

BUSINESS
Walls TV Ltd was founded by the current owner in 1970. The business is well known and respected and is the only traditional independent electrical retailer in the town. The business is now reluctantly being sold only due to our clients wish to take a well-earned retirement.

The business retails a great range of domestic appliances, integrated appliances, sound and vision products. They are a member of Europes leading independent electrical buying group enabling them to offer products by the worlds stellar manufacturers. They offer competitive prices enabling them to compete with the main high street competitors and they can price match other retailers. The business offers in store demos on a wide range of leading televisions and sound system in their purpose built first floor showroom.

Walls TV also offer a fast and reliable repair service for televisions, audio and video products by all leading manufacturers.

The business prides itself on the highest standards of customer service that it offers to all its customers, this is reflected in the number of returning buyers, many of whom have been using the business for decades.

The sale will include the company website (www.wallstv.co.uk) and the business enjoys good visibility on the internet.

The business is currently ran from two premises; one of which is currently used as a service department and stockrooms; this premise will be sold for redevelopment upon sale of the Warwick Street store.

Scope to Improve.
⦁ Advertising and marketing campaign.
⦁ Maximise the use of social media particularly Facebook and Twitter.
⦁ Upgrade the current website, perhaps adding an e-commerce facility.
⦁ Explore online discounters such as Groupon and Wowcher.
⦁ Consider introducing a loyalty or referral scheme.



LOCATION
Walls TV Ltd is perfectly located in Warwick Street a main shopping area in Leamington and as such benefits from high levels of footfall. The business is literally a couple of minutes walk from the busy Royal Priors indoor shopping centre and is well signed and immaculately presented and maintained. The business occupies a prominent corner position and there are a number of inexpensive public car parks nearby as well as low cost, metered on street parking within walking distance.

Royal Leamington Spa commonly known as Leamington Spa is a spa town in Warwickshire. In the town centre there are a variety of shops from High Street chains to independent retailers, plus an indoor shopping centre, The Royal Priors is very close to Walls TV Ltd. The out of town retail park is called the Leamington Shopping Park (formerly The Shires Retail Park) Leamington Spa and the surrounding area, known as Silicon Spa is a significant global centre for the video game industry with a higher than average proportion of digital media companies in games development, digital design and publishing and over a thousand employed directly in game development. From Leamingtons centre it is 3 miles to the M40 motorway which links it to Birmingham and London.

PREMISES
The business occupies three floors of a period property which is in a prominent corner position.

Ground Floor Showroom
Dual aspect with windows to front and side and a glazed entrance door creating a light and airy interior, generously proportioned showroom arranged on two levels, suspended ceiling with concealed window display area with raised plinth, perimeter shelving and ample floor display space, freestanding glass display cabinet, glass counter with till and card machine, hanging space for bagged items, ground floor office with desk and perimeter shelving and additional storage space, stairs to first floor.

First Floor TV Demo Showroom
A generous showroom with a selection of televisions arranged around the outer walls to allow 1-2-1 customer demonstrations, fluorescent lighting and carpet floor, table and customer seating area, glass display cabinet with built in shelves.

Office
A generous dual aspect office with ample room for a number of desks and filing cabinets, built in cupboards to the left hand wall, high ceilings and wood effect flooring CCTV monitor (4 camera).

Outer Office
A further useful office with high ceiling, window to front, built in floor to ceiling cupboards and room for desks.

First Floor White Goods Showroom
Good sized showroom for the display of washing machines, dryers, dishwashers etc, carpeted floor, twin windows to side, radiator and spotlighting.

Second Floor Built-In Appliance Showroom
Generous showroom with built in manufacturers display units, twin windows to side, perimeter shelving, central floor storage space and fluorescent lighting, door to;

Stockroom
A good sized stockroom with window to side, fluorescent lighting and perimeter shelving along with generous floor storage space.

TENURE
We are advised this is a Leasehold sale.

The current lease expires in May 2018.

We are further advised that the landlord would be happy to negotiate a mutually acceptable lease with the new owner.

The current rent is 31,500 per annum.

The business rates were approximately 11,650 in 2017.

HOURS
Monday to Saturday: 9am - 5.30pm

Closed at lunchtimes between 1pm - 2pm

Sunday: closed

STAFF
The business is owner run and managed, with the help of 2 full time sales staff as well as 2 full time installers and 2 part time members of staff.

FINANCIAL PROFILE
The business reports an average turnover for the last two years of roughly 685,000 with a gross profit of approximately 29%.



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