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Hilton Smythe are pleased to have been given the opportunity to manage the sale of Northwood Lane Stores which is a well established business with a renowned reputation amongst local residents. This is a superb opportunity to take on a popular and well used local business in an area teeming with customers.
There has been a similar type of business at these premises since the 1950’s and the current owner has run it successfully and lucratively for the last 12 years during which time it has thrived and become an important part of the local community. The business is now being sold, albeit reluctantly and with a heavy heart only due to the owners wish to pursue a change of direction. Our client is keen to see his beloved business pass to an ambitious and entrepreneurial new owner who can take this already thriving business to the next level.
The business is extremely well stocked with a comprehensive range of products including;
• Newspapers and Magazines
• Tobacco and vaping products
• Beers, wines and spirits
• Frozen foods
• Ice creams
• Greeting cards and gift bags
• General groceries
• Sandwiches and snacks
• Dairy products
• Soft drinks
• Crisps and snacks.
Additionally, the business has both Paypoint (approx £2500 per week) and Payzone (£10 approx per week) terminals and a Lotto terminal (£500-£600 per week). The business has a News bill of roughly £400 per week.
Northwood Lane Stores has an impressive number of regular customers many of whom use the business on a daily basis and are known on a first name basis by the owner who is a popular and well respected member of the local community and the business enjoys great visibility on the internet.
Reasons to Buy
1. A well established business with an enviable reputation and many regular customers
2. Low running costs with inexpensive rent and no business rates
3. Little or no competition locally
4. Current owner happy to offer a handover to ensure the continued success
5. Ideal owner managed or husband and wife business
6. Priced to sell, business actually values higher but is being marketed at a price to facilitate a quick sale
7. Beautifully presented and maintained and all fixtures and fittings included in sale making this a real Turnkey opportunity.
8. The owner has been approached previously by the Post Office which would obviously increase both footfall and turnover significantly.
Hilton Smythe highly advise early viewing to avoid disappointment. This great business is likely to attract considerable interest.
Northwood Lane Stores is located in Newcastle-under-Lyme in the county of Staffordshire.
Newcastle-under-Lyme is a market town in Staffordshire. In the 2011 census the town had a population of 128,264.
Newcastle-under-Lyme is served by the M6 motorway to the south and west of Newcastle, and by the A500 road to the north and east. There are access points from the M6 at junctions 15 and 16, to the south and north respectively.
The A34 trunk road runs through Newcastle from north to south and was the main road between Birmingham and Manchester until the M6 motorway opened. There is a large bus station in the town centre. Most of the bus network is run by First Potteries Limited and D&G Bus.
Northwood Lane Stores is perfectly situated in a stand alone position in an area of densely populated residential housing with a mix of property types including owner occupied, private rented and local authority and is a pleasant and sought after area in which to live.
The business is very nicely presented and maintained with clear visible signage and the distinctive yellow and purple Premier branding. There is plenty of free on street parking to the front of the store.
Northwood Lane Stores occupies the ground floor of a detached, double fronted brick built building, is presented to a really high standard and briefly comprises;
Windows and glazed door to front creating a light airy and inviting interior, cleverly designed to maximise the space available. Tiled floor and suspended ceiling with concealed lighting, air conditioning, bespoke counter with generous wrapping area and cigarette gantry and spirit shelving behind and perimeter shelving,
Long open dairy chiller, long open drinks chiller, central shelving gondolas , glass topped food freezer, glass fronted drinks chillers, greeting card and gift bag racking, revolving card carousel, bespoke metal crisp racking, Newspaper and magazine racking and Perspex evening paper stand.
To the rear of the shop is a generous stock room with window to rear, perimeter shelving and ample floor storage space.
The business premises are secured by an alarm system with Smartphone connectivity and a 5 camera CCTV system with the potential to upgrade to 16 channels.
We are advised that Northwood Lane Stores is being sold as a leasehold business opportunity.
The existing lease is currently arranged on a monthly rolling basis but we are further advised that the landlord would be happy to negotiate a mutually acceptable lease with a new owner.
The rent is currently £10,200 per annum which is really reasonable given the size and location of the premises.
We are advised that the business benefits from being exempt from business rates.
The business currently trades:-
Monday to Saturday 7.00am -9.00pm
Sunday 7.00am -8.00pm
The business is run and managed by our client and his wife and one part time member of staff.
Northwood Lane Stores generated an advised turnover of circa £264,000 as of the 2018 accounts with a gross profit of approximately 17%.
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