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Premier Convenience Store Hants/surrey Border With Flat For Sale

Aldershot, Hampshire
Asking Price:
£69,950
Turnover:
£360,000
Net Profit:
Available on request

An established, popular and profitable convenience store located in the centre of a Blackwater Valley village between Aldershot and Farnham on the Hampshire/Surrey border. The modern, re-fitted interior with off-licence, lottery, an ATM cash machine, a dry-cleaning agency and a parcel collection service all contribute to attracting customers to this busy shop and generate worthwhile commissions. Sales average £7,300 per week. The business has operated as a grocery store in the densely-populated Blackwater Valley for more than 100 years. The business has been in the same hands for 40 years but the vendor is now looking for a change of direction and plans to purchase a catering business closer to home. New 15 year lease. Rent £16,000 per year includes 2-bed flat above.

Property information

Property:

Leasehold

Living Accommodation:

Accommodation Included

Location:

LOCATION

Situated on the border with Hampshire and Surrey, the village is an extension of a settlement, the origins of which go back to the 7th century. It was held by the monks of Chertsey Abbey until the abbey was dissolved by Henry VIII in 1537. The Basingstoke Canal was built through the area in 1794. It was the arrival of the Army, established at Aldershot during the 1850s, which had the greatest influence on the growth of the village during the Victorian period. Residential development began on land either side of the Blackwater River, mainly after the opening of the local railway station in 1870. Barges were built at nearby Ash Vale in the heyday of the Basingstoke Canal but by the 1920s, little commercial traffic reached the area and the last barge was repaired here in 1946. By the 1950s the canal had been abandoned and lay derelict. However, it was not long before a band of enthusiasts started the process which finally led to the restoration of the canal. It is now a great recreational asset to the area for pleasure craft, walkers, angling and as a haven for wildlife. The Basingstoke canal runs north through the village towards Frimley then north-east to Woking and Byfleet, where it joins the Wey Navigation and then the Thames. The local station is on both the Alton to London Waterloo and the Ascot to Guildford lines. The A331 Blackwater bypass provides access to the A3 and to the M3 at junction 4. Farnborough Airport is 5 miles away and is used principally by business jets.

BUSINESS:
An established, popular and profitable convenience store
located in the centre of a Blackwater Valley village between Aldershot and Farnham on the Hampshire/Surrey border. The modern, re-fitted interior with off-licence, lottery, an ATM cash machine, a dry-cleaning agency and a parcel collection service all contribute to attracting customers to this busy shop. Lottery, Paypoint, Cash machine, parcels service and a dry cleaning agency generate commissions

BUSINESS PREMISES:
(all sizes are approximate and should be considered 'nominal'.)

These lock-up, ground floor premises measure 26ft 8" x 14ft 6"/8.1m x 4.4m. Net internal area 570sq ft / 53sq m. A good selection of chillers carrying dairy, soft drinks and beers plus a number of freezer cabinets well-stocked with frozen foods, desserts ice creams and two central gondolas together offer a comprehensive range of products for customers. Newspapers, magazines and greetings cards are also on display. Garage to the side of the premises provides useful storage for dry goods. Security shutters and computer-linked CCTV monitoring in place.

Note:
Where items of equipment and appliances are mentioned, no warranty
is given or implied as to their operational condition.

PRIVATE ACCOMMODATION:
The 2-bedroom, self-contained flat above the shop is let and generates annual rent of £9,600.

OUTSIDE:
There is free on-street parking plus a post box which attracts customers to stop off and visit the store. The post box gives passing traffic another reason to stop at the store

TENURE:
This is a leasehold opportunity. The vendor has recently negotiated a new 15 year lease to expire in January 2027. The lease is a protected lease within the terms of the Landlord and Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £13,500 per year. There are 5-yearly rent reviews with the next review due in 2022.
Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord may ask for a rent deposit equal to 3 or 6 months dependent upon quality of references and status of the buyer.

RATES:
The rateable value of the business premises is £5,200 with zero rates payable in 2016/17. The 2-bedroom domestic accommodation falls into Band A for council tax purposes.

NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.

SERVICES:
We understand from the vendor that all main services are connected to the property.

TRADE:
Formal tax accounts prepared for the business inspected by Adams and Co for the year ended 31 July 2015 show revenues of £393,462 with gross profits of £106,481 (28%). This compares favourably with revenues of £437,832 and gross profits of £110,018 the previous year. Turnover figures exclude Lottery and Paypoint. Serious buyers are invited to interrogate the till reporting system to analyse and confirm the following breakdown of sales across tobacco, dry goods, alcohol etc. There are also commissions from Lottery, Paypoint, ATM machine and parcels. A till report for the year to 31/12/16 shows:
Sales Analysis
Lottery 76,541
Paypoint 86,828
Tobacco 121,845
Alcohol 60,240
Confectionery
and Soft Drinks 47,318
News and Mags 30,440
Please note that if a business is VAT registered, all figures exclude VAT.

HOURS:
Monday to Sunday 07:00 to 21:00

STAFF:
The vendor runs the shop full time and is supported by
four part time employees.

STOCK:
The vendor informs us that the value of the stock is approximately £10,000.

LEGAL FEES:
Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.

COMMENTS:
This family-owned store has built up a loyal following. The vendor is now looking for a complete change of direction which has created an exciting opportunity for a new owner to build on the solid foundations laid down over many years of serving local people who have grown up knowing this shop.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.

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