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Popular Hardware Store In Jedburgh For Sale

Jedburgh, Scottish Borders
Asking Price:
£299,950
Turnover:
£301,595
Net Profit:
Available on request

Business
Hilton Smythe is delighted to welcome to the market this well-established and popular hardware store, which is ideally located within the historic town of Jedburgh, Scottish Borders.

The business was originally established in 1968, and in 1996 our clients merged their own existing ironmongery business from Aberdeenshire with the Jedburgh shop. Only now is the business being offered to the market due to our clients’ desire for a well-deserved retirement. The business currently operates 6 days per week and generates a turnover in the region of £301,600 per annum, with a gross profit of approximately 41%, as per the 2015 accounts.

Our client offers a wide variety of goods including Ironmongery, hardware, homewares and electrical products, as well as offering a key cutting service. The property boasts 338 sq. metres of floor space, is very well maintained and fitted out to suit the trade.

The business has built up an excellent reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations. The business currently features as one of Jedburgh’s top ten attractions on TripAdvisor.

We feel there is scope to increase the turnover by extending the opening hours, perhaps by offering Sunday trading. A new owner could also embark on a small marketing campaign to highlight the goods and services offered. The business would also benefit from the launch of a website to advertise the business, which could incorporate online ordering facilities.

Under the present Business Rates rebate scheme operating in Scotland, the business qualifies for 100% relief, meaning no rates are currently payable for the business property. In January 2017, the business initiated online sales through an eBay shop, which has proven very successful and has boosted sales by around 8%. It is believed that this side of the business offers considerable scope for further expansion.

This is an excellent opportunity for a new owner to take this already busy business to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.

Location
P & S Dorricott occupies substantial four storey premises in an excellent location on the very busy High Street within the town of Jedburgh in the Scottish Borders. The property is surrounded by a wealth of complimentary shops and businesses, therefore, benefiting from a very high volume of footfall and passing trade. The business further benefits from on-street parking facilities to the front of the premises.

Jedburgh is a town and former royal burgh in the Scottish Borders. It lies on the Jed Water, a tributary of the River Teviot, 10 miles from the border with England. The town is dominated by a magnificent 12th century Augustinian Abbey with its dedicated visitor centre. In the surrounding area, there are many delightful pathways to suit walkers of all abilities, along with horse riding, golf and fishing, and a number of historical sites.

The area is well served by the public transport system, with bus stops within easy walking distance of the property. The A68 tourist route from Newcastle to Edinburgh passes directly through the town, and offers good access to Northumberland and the Central Belt of Scotland. Galashiels is approximately 18 miles away and Berwick-upon-Tweed is 33 miles away.

There is plentiful free parking throughout the town, and Jedburgh is a popular lunch time stop for cars and bus tours using the A68. There are plans currently in progress for a Borders National Park, and a new distillery, both in the Jedburgh area, both of which are expected to further boost visitors to the town.

Premises
P & S Dorricott occupies substantial four storey premises in an excellent location on the very busy High Street within the town of Jedburgh in the Scottish Borders. The property is surrounded by a wealth of complimentary shops and businesses, therefore, benefiting from a very high volume of footfall and passing trade. The business further benefits from on-street parking facilities to the front of the premises.

Jedburgh is a town and former royal burgh in the Scottish Borders. It lies on the Jed Water, a tributary of the River Teviot, 10 miles from the border with England. The town is dominated by a magnificent 12th century Augustinian Abbey with its dedicated visitor centre. In the surrounding area, there are many delightful pathways to suit walkers of all abilities, along with horse riding, golf and fishing, and a number of historical sites.

The area is well served by the public transport system, with bus stops within easy walking distance of the property. The A68 tourist route from Newcastle to Edinburgh passes directly through the town, and offers good access to Northumberland and the Central Belt of Scotland. Galashiels is approximately 18 miles away and Berwick-upon-Tweed is 33 miles away.

There is plentiful free parking throughout the town, and Jedburgh is a popular lunch time stop for cars and bus tours using the A68. There are plans currently in progress for a Borders National Park, and a new distillery, both in the Jedburgh area, both of which are expected to further boost visitors to the town.

Tenure
We are advised Freehold.

Hours
The business is open:
Monday – Saturday: 9.00am – 5.30pm
Sunday: Closed

Staff
The business is owner run and managed with 3 x full time and 1 x part time staff members.

Financial Profile
The business generates a turnover in the region of £301,600 per annum, with a gross profit of approximately 41%, as per the 2015 accounts.

Property information

Property:

Freehold

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