SPAR - St. Augustines Gate, Unit 5, 26 St. Augustines Gate, Norwich, Norfolk, United Kingdon, NR3 3BE

A rare opportunity to acquire a privately owned and operated convenience store located on the outskirts of Norwich City Centre.

This well-established store benefits from a strong and loyal customer base with further potential to increase trade via means of promotions and a "hands on" management approach. The store has had steady investment over the last few years and now has modern, corporate level fixtures and fittings. There is also further residential development happening in the area.

This opportunity would suit first time buyers and existing operators alike.

Located in the desirable City of Norwich, SPAR - St. Augustine's gate sits on Augustine's Road itself. The store is situated on a corner plot benefitting from high volumes of passing traffic on the adjacent artillery road into the City centre.

The business is surrounded by various business types and is nestled within a local housing estate on the edge of the City Centre.

Norwich is off the A140 and provides links to the adjoining A road, which leads West towards Peterborough and Cambridge and South via the A14 towards Suffolk and Essex.

The business has a mainly open plan sales area of approximately 2,163 sq/ft (201sq/m) and is fitted and equipped for the sale of convenience goods, chilled and frozen products, a full off licence, confectionary, cigarettes, newspapers, magazines, stationary, local products and pharmacy and medical products.

The business is also a National Lottery Agent and offers additional services such as scratch cards and PayPoint.

To the rear there is a large stockroom, WC and kitchen area with access to the rear of the property. The business benefits from CCTV and alarm systems.

We are advised by our clients that the fixtures and fittings are wholly owned and will be included within the sale.

There is access to the rear of the property for deliveries.

This profitable store offers a strong established trade with sales mainly derived from traditional convenience sales including tobacco, alcohol, newspapers and magazines, fresh, chilled and frozen foods, ambient grocery products, bread and bakery, confectionary, snacks, soft drinks and hot food. Additional services include lottery and PayPoint.

The business is run with the assistance of part time and full-time members of staff.

The Transfer of Undertakings Protection of Employment (TUPE) regulations shall apply to all employees, requiring purchasers to offer continuity of employment to all staff.

Management accounts for 6-month period ending 31/05/2023 show sales of £670,723 and a gross profit of £137,323.
Further and more detailed trading information will be made available to interested parties following a viewing of the business.

Monday- Sunday 6am-11pm

There is an existing 25 year lease commencing 26/03/2003, with a current passing rent of £36,000 + VAT per annum.

The VOA web portal states that the current Rateable Value from 1st April 2023 is £47,500.