3 bedroom convenience store for sale

Tiverton, Devon

£295,000

Property Description

Commercial information

  • Business for sale

Key features

  • Lucrative edge of town trading position within Tiverton
  • Corner sited premises on busy thoroughfare
  • Immaculate air conditioned retail area, storage
  • Established 100+ years
  • Sales 476,373 ex Vat, Gross Profit 22%
  • Benefits from National Lottery outlet
  • Profitable business especially if owner operated
  • Sound regular all-year round trade
  • Benefits from 3 Bed Maisonette over first & second floors
  • EMF reference number: G34577N

Full description

Tenure: Freehold

Description: A famous retail outlet which we understand has traded continuously as a 'corner shop', more lately as a convenience store, since 1868 ensuring it is well known throughout the area. Operating from character corner sited premises providing air conditioned retail area, an office, storage, secure storage, kitchen and additional outside storage facilities. Additionally the premises boast a maisonette, ideal for owners, providing kitchen/breakfast room, dining room, sitting room, 3 bedrooms and a bathroom whilst outside is an enclosed central courtyard. Such is the length of time established coupled with reputation solid all year round trade is enjoyed from residents, those working in the area and passers-by.

Location: Situated in the popular residential and secondary shopping area of West Exe, close to other businesses which at the time of our inspection included a Pet Shop, Hair Salon, Bakery, Newsagent and Takeaway with a Café, Coffee Shop and Public House literally just around the corner. Importantly, and close by, is one of the towns major employers - Heathcoat Fabrics, from which good levels of trade are received from its workers. The business is surrounded by residential housing, passing motorists benefit from free restricted and unrestricted on street car parking ensuring the business is easily accessible, and the town centre is only a short walk away over the nearby bridge spanning the attractive River Exe.

Area: Tiverton is the largest town in Mid Devon, situated on the River Exe, renowned for the highly regarded Blundells school, host to a substantial resident population, the subject of numerous new housing developments in recent years with further planned, drawing trade from the many surrounding villages and hamlets, benefiting from mainline railway station and motorway access at junction 27 of the M5 ensuring the regional capital, The City of Exeter, which lies approximately 16 miles away is easily reached. The town is ideally placed to reach both the North Devon and South Devon coasts, Exmoor and Dartmoor National Parks together with numerous attractions to include Knighthayes Court, Bickleigh Castle, Bickleigh Mill and Killerton House.

Premises: A corner sited property with frontage to 2 sides, the subject of investment over the years to include new roof in 2008 and a full rewire in 2009. Aluminium framed glazed corner entrance door opens to RETAIL AREA, non-slip flooring, wall mounted air conditioning unit, fluorescent strip lighting and CCTV system installed. Comprehensively fitted and well presented, initial crisp display, ice cream conservator, confectionery display shelving and bagged sweets peg shelving. Glazed upright alcohol chiller, glazed upright soft drinks chiller, glazed double dairy chiller, corner cake display shelving, glazed upright freezer, adjustable households display shelving, adjustable grocery display shelving and wine and spirits display shelving. Central display gondola in respect of pet foods and bottled drinks, side SERVE OVER COUNTER incorporating food to go display, also housing till and Lotto machine with cigarette gantry and chemist lines display behind. From behind the serve over counter, access to STOREROOM, contains chest freezer, 2 upright fridges and metal storage shelving. Leads to entrance HALLWAY with additional access to the front street, leading off is the OFFICE containing desk, CCTV equipment, storage shelving, upright fridge and upright freezer. A further smaller STOREROOM also leads off the entrance hallway, and the hallway continues to the rear KITCHEN/STORE fitted with stainless steel sink/draining unit and wooden storage racking, contains back door opening to enclosed courtyard. (None of the above appliances/systems have been tested and a purchaser must satisfy themselves as to the serviceability of these.)

Accommodation: Extending over the first and second floors of the property, considered versatile with a number of configurations available, benefiting from uPVC framed double glazing, previously occupied by the vendor, currently let to a staff member, would suit owner occupation. Accessed from the main street via the ENTRANCE HALLWAY referred to above, stairs rise to the FIRST FLOOR with BATHROOM leading off, side aspect, fitted with bath having shower over, hand washbasin and toilet. The first floor also provides KITCHEN/BREAKFAST ROOM, 2 windows providing front aspect, vinyl flooring, fitted with work counters, base and wall storage units, stainless steel sink/draining unit, recess for cooker with extractor canopy above. Inter-connects with DINING ROOM, FRONT ASPECT, could provide sitting room if additional bedroom required. Existing separate SITTING ROOM with side aspect, BEDROOM 1, also with side aspect. Concealed staircase rises to the SECOND FLOOR and BEDROOM 2/STUDY/HOBBIES AREA, inter-connects with BEDROOM 3, a double with front aspect, provides access to substantial eaves STORAGE SPACE which extends over the kitchen, dining room and part of the first floor bedroom.

Outside: To the rear of the property, enclosed central COURTYARD, and where a separate STOREROOM is situated containing metal storage racking.

Business: We understand the business has been in existence since 1868, owned by another family member from 1995 to 2004 when it was acquired by the current owner, only now offered for sale to spend more time with family. Operating as a Convenience Store, retailing groceries, households, snacks, confectionery, bread, dairy lines, frozen foods, beers, wines, spirits and soft drinks, pet foods, ice creams, food to go, greetings cards, cigarettes and chemist items. The business benefits from being a National Lottery outlet, it should be noted newspapers and magazines are not sold with these items left to the local newsagent with the subject business and the newsagent not competing with one another. The business enjoys substantial all year round regular local trade from those living in the area, working at nearby Heathcoat Fabrics, and passers by such is the trading position being on a primary thoroughfare.

Trading Hours: The business trades Monday to Saturday 7.30am through to 10.00pm and Sunday 9.00am through to 10.00pm.

Staff: Operated by the sole vendor who works 3 days each week in the business, assisted by 4 part time members of staff, the business is easily manageable with only 1 person required on the shop floor the majority of the time. If operated by a couple then the opportunity exists to reduce the current wages bill.

Takings: Accounting information provided confirms a solid and reliable profitable business, in respect of the financial year ended 31st March 2019 Sales amounted to £476,373 ex Vat returning a Gross Profit of £102,211 (22%) which was in addition to Commissions of £2,104. Even based on current staffing levels the business proves most profitable, should it be operated by a working couple then Net Profits approaching £60,000 have been calculated ensuring a comfortable living.

Comments: The sale of the Mini Market provides an opportunity to acquire a most profitable landmark retail business such is the length of time established. Enjoying an easily accessible trading position proving most lucrative such is the closeness to residential areas, major employers and the town centre coupled with the business fronting a major thoroughfare. New owners will benefit from well-maintained premises having been the subject of investment over the years, also boasting versatile accommodation, considered ideal for owners.

Tenure: Freehold.

Rates: Currently 'Nil' after 100% rate relief.

Price: £295,000 for the benefit of the Freehold, Goodwill, Fixtures, Fittings & Equipment (according to inventory) plus stock at valuation.



More information from this agent

Energy Performance Certificates (EPCs)

Nearest station

  • Tiverton Parkway (5.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 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 station

  • Tiverton Parkway (5.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 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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