Premier Convenience Store In Hayle Freehold Or Leasehold For Sale

Business description

We are delighted to have for sale this successful business in a busy town of Hayle in West Cornwall. In addition to the shop there is an opportunity to take on the recently refurbished three bedroom apartment above on an Assured Shorthold Tenancy basis. The business has good trading figures and would appeal to a couple or family looking for a lifestyle change in this popular tourist destination.

SITUATION-
Fantastic business opportunity to acquire the leasehold interest that could be a lock up shop or one may choose to take on the above 3 bedroom living accommodation. The store is in a prominent location on a busy road through the town centre. A very profitable Convenience Store / Off- License within a well populated residential area in West Cornwall.

LOCATION-
The town of Hayle is a very popular holiday destination with its miles of beaches and holiday parks. Hayle is a thriving North Cornish town which has grown for centuries around the Hayle estuary and harbour. The town has good Primary and Secondary schools. Hayle offers excellent communication with west Cornwall and beyond, benefitting from a mainline railway link with the Penzance to Paddington line. Whilst the constantly improving A30 trunk road provides easy access out of the county. Hayle has one of Cornwall's finest beaches and there are pleasant walks around the regatta pool along the King George 5th Memorial walk and along Millpond. Hayle is currently the subject of a multi-million pound re-generation scheme with the harbour area currently owned by the Dutch bank ING.

RETAIL AREA-
The shop floor area measures approximately 899sq ft (83.5sqm). The shop sells a large variety of general convenience style goods and foods, stationary, gift wrap, cards. The shop also supplies a good variety of alcohol,
cigarettes, newspapers, fresh meats, confectionery and vegetables. During the summer months it does sell a lot of beachwear, towels, wetsuits etc. The store is neatly laid out in easily accessible aisles with shelving and racks and several display fridges and freezers. The shelves are always well stocked with local produce to meet local needs. There are two large windows in the retail area allowing plenty of natural light into the store.

To the rear of the property there is the benefit of a good size store for goods, an office and kitchen area
with staff toilet. From the store there is a rear access which could be utilised for deliveries. Hayle town centre has several parking spaces on the main street that allows passing customers to stop.

The office is well equipped with printers, scanners, filing cabinets and the security cameras. The premises has a burglar alarm for the store and CCTV for security purposes. The property has single phase electricity. The property requires very minimal heating during the winter months and is a cool environment during the summer months.

The landlord has worked hard on the property’s appearance which is a huge plus for a new tenant as any improvements would only be cosmetic and would be done to the new tenants taste. We feel that this opportunity offers a wonderful lifestyle change and we urge very early interest and viewing as businesses in this area and of this calibre rarely stay on the market for long.

Above the retail there is the possibility of taking on the 3 bedroom accommodation. This has recently been refurbished and is of a good standard. The rent on this unit would £700 per month exclusive of bills.

ACCOUNTS
The accounts for the business are available after a viewing has taken place and are still interested in the property. The gross sales for the business is in excess of £215,000 with a gross profit of £58,575. Stock will be valued before the new lease is signed and will be accounted for in the ingoing for the business element and is valued at around £15,000 at any one time. Once a viewing has taken place then we can release a set of the accounts to applicants who still express an interest.

The present trading hours are 8am to 10pm Monday through to Sunday.

FREEHOLD
The property is available by way of freehold off a guide price of £550,000 should any purchaser be interested and this would include a good size modern 3 bedroom flat situated above the retail area which is let and currently achieving a rent of £725 a month. The residential accommodation has its own separate front door and also has a rear door/ fire escape.

LEASE
There will be a new Landlord & Tenant Protected Lease available on FRI terms for 7 years with 3 yearly rent reviews. There is a Premium for the business guided at £120,000 and the rent being guided at £20,000 PAX.

LEGAL COSTS
All parties are to pay their own legal costs

REASON FOR SALE
There is a genuine reason for sale which is due to the landlord having other business commitments. The business has a good level of profit which would create a luxury lifestyle for its new lessee. The sale is to include the leasehold interest of the property, goodwill and all fixtures and fittings.

BUSINESS RATES & WATER-
On the accounts these are showing a combined price of £4,295.

Property information

Property:

Leasehold