Freehold Traditional Department Store For Sale

Business description

This historical and well established department store has been part of the fabric of Porthmadog for over 125 years and in that time it has developed into a truly wonderful destination store for the town. With its high profile location and distinctive Victorian appearance the business draws in visitors from near and afar with many customers travelling significant distance to visit such is the quality of the offering. The owners, past and present have spent a great deal of time effort and resource on the design of this award-winning retail store to ensure that shopping is a thoroughly enjoyable leisure experience.
Situated over 3 floors the presentation of the very wide range of stock is excellent. The store comprises the following layout:

Ground Floor - Here you will find a vast selection of items in the Cookshop, Housewares and Outdoor Living departments.

Among the leading brands stocked are: Denby, Brabantia, Addis, Meyer Prestige, T & G Woodware, Optima and Antler.

First Floor- On the first floor you will find an array of Gifts, Photograph Frames, Greetings Cards, Stationery and Games.

Leading Brands Stocked: Royal Worcester, Edinburgh Crystal, Liberty, Dartington Aynsley and Colony.

Also on the first floor you will find the recently extended 82-seat coffee shop where customers can relax and unwind whilst making their purchasing decisions. The coffee shop provides a fine selection of home-made cakes, fresh sandwiches made to order and light lunches together with aromatic freshly ground coffee.

Top Floor- Here you will find an interesting display of Lifestyle Decor Products including Lighting, Mirrors, Ironware, Flemish Tapestries, Bamboo & Rattan, Animals and Flowers.
Leading Brands Stocked include: Alessi, Sia Parlane, Sabai Sabai, Jenny Worrall, Gallery Framing and Ruckley Still Water.
Equipment:

The business has a comprehensive state of the art EPOS system and computerised accounting system (CHARM).All fixtures and fittings including displays are of high quality and in excellent condition. The business also has a delivery van.

Customer Service:

The exceptionally high levels of customer service are best demonstrated by the number of letters of thanks and testimonials the business receives each and every year. This is further reflected in the very high levels of repeat business and referrals the business enjoys. Personal service is the key. Most customers stay loyal to this destination outlet whether they be local or visitors, such is the quality of its all round offering.
Key Strengths:

There are no other retailers of a similar nature or size in the area. In fact there are very few in the region who would be able to offer such a high quality environment and product range making this a truly wonderful shopping experience. This together with the excellent reputation, knowledgeable and friendly staff and levels of service sets this business apart. Other key strengths include:

• Generations of loyal customers
• Quality of staff and management team
• Suppliers
• Buying Power
• Beautifully presented premises
• Location

Financial profile:
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The business consistently achieves turnover in excess of £1Million per annum with an impressive gross profit margin in excess of 50%. Turnover for last financial year was circa £1,200,000. Current stock holding is circa £200,000

Property information

Property:

Freehold

Location:

The premises are ideally located on the main thoroughfare in the town and are highly visible from the road. The building itself is Victorian, full of character and is in an excellent state of repair. There is staff parking to the rear of the building and plenty of free parking close by. Total retail space is circa 12,000 square feet evenly split over 3 floors (with small office areas on the top floor). There is also further attic space that could be utilised if need be for storage. In addition to this there is a warehouse to the rear of the building providing circa 2000 square feet of storage space and a customer pick up point.

Freehold value is circa £1.6Million. Rates are circa £16,500 p.a. The vendor would consider leasing the premises should a buyer not wish to purchase the freehold, subject to negotiation

Other information

Competition / Market:

The business advertises in the local newspaper and has in the past undertaken some radio advertising. It also has a basic informative website and a leaflet. This is an area where further activity would increase sales and revenues

Support & training:

The current owners would be happy to provide full training and support at handover.

Trading hours:

Monday – Saturday: 0930-1730Sunday: 1000-1600