Long Established Hardware Store For Sale

Business description

HIGHLIGHTS:
• Leasehold hardware store in attractive Bath suburb
• Easy to run with low rent and operating costs
• Opportunity to expand hours and advertise free parking facility
• Realistically priced for retirement sale
• Finance available (subject to status)

BUSINESS:
JT’s Hardware has been in the same ownership for 10 years and has been established for more than 25 years being one of the original tenants of a mixed use development constructed by Bath City Council comprising retail units with separately accessible flats above in the centre of Weston Village.

The product lines are too numerous to specify here but include kitchenware from cookware, crockery, storage solutions and waste bins to hardware and DIY products including plumbing and electrical materials and accessories, tools, adhesives, fillers and paint, batteries, a key cutting facility as well as brushes, all types of cleaning materials and implements. The range also includes gardening tools, compost, seeds, weedkillers, pest control products and pet food/housing to seasonal goods such as coal, firelighters, BBQ materials, Christmas trees (delivered), decorations, cards and wrapping materials.

LOCATION:
Weston Village, Upper Weston and Lower Weston are situated on the western side of the city. A largely residential area close to the Royal United Hospital it has a distinct identity and community of its own. The population is very well served by a wide range of shops, catering establishments, leisure facilities and services making it wholly self-sufficient.

TENURE:
Leasehold

YEARS ESTABLISHED:
25 years +

EMPLOYEES:
None

TRADING HOURS:
Mon to Fri 8.30am to 5.00pm
Sat 8.30am to 1.00pm

SALES REVENUE:
Turnover stood at £41,192 in the year ended 5/4/07 with a gross profit of 47.6% achieved.

NET PROFIT:
Abridged profits of c £10,000 were reported in the year ended 31/3/07, the previous three years having averaged close to £13,000 pa.

LEASE TERMS:
The premises are held on a 10 year lease from 2001 subject to 4 yearly rent reviews. Current rent stands at £1,000 per quarter with the next review due in 2009. Service charge stands at £100 per quarter. The tenant is responsible for the up-keep of the premises only and not the building as a whole. We understand that a new lease will be available to the incoming tenant if required.

OPPORTUNITIES:
The opportunity exists to open on Saturday afternoons and given the excellent parking facilities, which contrast markedly with Bath city centre, enhanced marketing should attract further business.

REASON FOR SALE:
Retirement due to ill health.

SUPPORT AND TRAINING:
The vendor offers a comprehensive handover.

LIVING ACCOMMODATION:
None.

VIEWING:
All viewings to be arranged through Adams & Co, sole agent, on 01752 493002

FINANCE:
Finance is available (subject to status) through Agora Commercial Finance, independent commercial finance brokers, on 01752 405032

FULL PARTICULARS:
Please telephone or email for full particulars

BUSINESS SECTOR/CATEGORY:
Retail/Hardware Stores

GUIDE PRICE:
The vendor seeks offers in the region of £19,950 for the lease, goodwill, fixtures and fittings plus stock at valuation.

VALUE OF STOCK:
The vendor advises that stock has a current value in the region of £30,000, therefore offers invited in the region of £45,000 in total.

COMMENTS:
Weston Village is most attractive. It is distinctly separate from the city and has a community spirit of its own. The hardware store is well known and long established and provides a very wide range of products.

Rent and operating costs are very low and with a high gross profit margin a modest increase in turnover would see profitability rise markedly.

Property information

Property:

Leasehold