Convenience Store for sale

Nisa Local & Subway, 351-353 Copnor Road, Portsmouth, UK, PO3 5EQ

Under Offer £665,000

Property Description

Commercial information

  • Business for sale

Key features

  • Established & profitable business and 2 flats
  • Combined turnover Y/E 31/03/17: 715,086
  • Adj. net profit: 108,243 + 14,400 rent
  • Densely populated residential area/main road
  • High specification fit-out in 2015
  • Excellent business with strong trading figures, Energy Rating C

Full description

Tenure: Freehold

Description

The freehold includes a high spec retail unit and two separate apartments, which offer excellent owner's/staff accommodation or can be let on assured short hold tenancy for a combined income of around £14,400 per year.

Copnor Road Nisa Local & Subway is a highly profitable business with multiple income streams and offers the opportunity to continue the excellent growth that the owners have built up since opening the store in 2015.

Assuming an owner operated store, there is potential to generate EBITDA in excess of £108,000.

The store was comprehensively refurbished and fitted out just two years ago at a cost of in excess of £160,000.

Location

The convenience store and Subway occupies a highly prominent corner site in the heart of Portsmouth.

The business benefits from a high volume of passing trade as well as having a strong local customer base from the heavily populated residential location and nearby secondary school and college.

Ground Floor

The large retail area is superbly appointed with a wide range of display units, refrigeration units, LED lighting, tiled floors and electronic systems including alarm and EPOS.

The Subway sandwich shop includes a full professional fit out in accordance with the franchise requirements. There is a seating area for customers to dine in.

The property also offers generous storage areas and high spec walk in refrigeration units, as well as a staff kitchen and toilet.

Other Floors

The two independent apartments are accessed via a private entrance. Flat 1 is a spacious one bedroom apartment with living room, bathroom and Kitchen. Flat 2 offers two generous bedrooms, large sitting room, bathroom and kitchen. Both apartments are well maintained. They are currently let on assured shorthold tenancy agreements for £500 and £695 per month respectively.

Fixtures & Fittings

The fixtures and fittings are owned by the vendor and will be included in the sale.

The Opportunity

An extremely profitable business with excellent long term growth potential and limited local competition.

Genuine reason for sale as owners are moving from the area.

Staff

The business is currently run by three family members with the assistance of two full time and two part time staff.

Regulatory

Premises Licence.


More information from this agent

Nearest stations

  • Hilsea (0.5 mi)
  • Cosham (1.3 mi)
  • Fratton (1.9 mi)
Distances are straight line measurements from centre of postcode

Floorplans

Map & Street View

Nearest stations

  • Hilsea (0.5 mi)
  • Cosham (1.3 mi)
  • Fratton (1.9 mi)
Distances are straight line measurements from centre of postcode

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