Convenience Store for sale

East Street Supermarket, 114 East Street, Southampton, SO14 3HD

Under Offer £59,950

Property Description

Commercial information

  • Business for sale

Key features

  • Highly populated city centre position
  • Turnover 883,873 Y/E 30/4/18
  • Approximate retail area 1,952 sq m
  • Currently closed Sundays & from 6.30pm daily
  • Established business with loyal customers
  • Loan available via Christie Finance, subject to status. Energy Rating D

Full description

Tenure: Leasehold

Description

The large retail unit offers a retail area of approaching 2,000 sq ft as well as a large first floor space offering a staff room and additional storage, which could be utilised in a more profitable way.

The strong core weekly sales and high levels of commission from Lottery and Paypoint demonstrate a strong existing customer base.

The current opening hours are short, opening at 8am and closing at 6.30pm and the store is closed on Sundays.

The large student and local population offer considerable potential to increase revenue by introducing a greater range of profitable food to go.

Location

East Street Supermarket is situated in a prime location in the centre of Southampton, close to Southampton Old Wall and Houndwell Park.

The business is positioned on one of the main high streets of Southampton and benefits from its large residential population, including students at Southampton University and high levels of passing trade.

The business is ideally situated to benefit from key transport links including the Red Funnel Ferries as well as a large number of nearby shops, St Mary's Football Stadium, restaurants, pubs and entertainment.

Internal Details

A well appointed store offering a wide range of modern fixtures and fittings befitting of a mini supermarket including a tiled floor, well laid out display units and chillers, an integrated EPOS system and CCTV.

The store offers a wide range of convenience and confectionery goods as well as alcohol, tobacco, high margin stationery, hardware and household products.

Fixtures & Fittings

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

The Opportunity

A rarely available former corporate store on a busy city centre shopping parade, offering considerable potential for the new owner.

The store hours could be considerably increased which would add significantly to the core weekly sales.

The store is priced competitively at well below the standard ten times weekly sales, in order to facilitate a swift sale.

Staff

The store is currently run by the owner with the assistance of two part time members of staff.

Trading Information

The profit and loss accounts for year ending 31/03/2017 show:

Turnover: £887,201

Trading Hours

Monday-Saturday: 8am-6.30pm
Sunday: Closed

Business Rates

The current business rates are £22,500 which qualify for the standard rates relief so the rates payable will be around £11,000 per annum.

Regulatory

Premises Licence.


More information from this agent

Nearest stations

  • Southampton Central (0.6 mi)
  • Woolston (1.1 mi)
  • Millbrook (1.5 mi)
Distances are straight line measurements from centre of postcode

Floorplans

Map & Street View

Nearest stations

  • Southampton Central (0.6 mi)
  • Woolston (1.1 mi)
  • Millbrook (1.5 mi)
Distances are straight line measurements from centre of postcode

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