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Well Known Convenience Store Business For Sale

Plymouth, Devon, UK
Asking Price:
£120,000
Turnover:
£1,037,554
Net Profit:
Available on request

Business
Please quote reference B06040

Hilton Smythe are delighted to present to the market a city centre located SPAR store, opened as a new concept store by our client 5 years ago.

We are advised that the business is not tied to Spar, and a new buyer can change to any other brand if they require.

There is a full support system in place, organised into the following categories –

Defining Retail Strategy
Brand & Store Launch
Growing Efficiency
Growing Profitability
Growing Market Share

The company supplies both branded and own branded groceries.

A huge part of the business sales is their bakery. The business is well known in the area for the wide range on offer, and this attracts alot of customers looking to get something on their lunch breaks. The business offers a large selection of pasties and sausage rolls, as well as alot of sweet options. The business also makes their own sandwiches daily.

The store currently offers the following range of products –

Confectionery – large range of boxed chocolates, bagged sweets, American candy, seasonal goodies and biscuits, breakfast bars.
Crisps & Snacks – bagged nuts, large choice of fresh fruit & veg, small & large bottled and canned soft drinks, water & juices
Bean to cup coffees to go, hot chocolate & teas
Large selection of chilled beers, lagers and ciders
Excellent choice of white & red wines, spirits & mixers
Essential Groceries
Unique & large in-store bakery section – offering fresh savoury and sweet pasties, sausage rolls, pies, muffins, croissants, pain au chocolate, cake slices, bread rolls, baguettes & loaves.
Hot food to go
Household items – cleaning products, nappies, toiletries & essential medicines
Cigarettes, Tobacco
Paypoint, Epay, Apple Pay

Further growth potential –

Increase range of hot food to takeaway – pizza’s, hotdogs, toasted sandwiches & panini’s, fresh soups, bagels, jacket potatoes, pretzels etc.
Increase range of European grocery lines
Increase range of healthy alternatives – vegan, gluten free, plant based and salads
Re-develop the 1st floor space to add a further income stream

The key selling points –

In excess of £1M annual turnover
Very well-known brand & support package
Many options to reduce current running costs
Further options to increase current margin levels
Nil Business rates currently paid
‘Turn-key’ business opportunity
Large nearby student base
Potential to add on delivery sales
Full busines handover offered
Very modern and contemporary shopping experience
Growing city centre culture
Ideal bolt-on acquisition

Very rarely to SPAR’s of this size and level come onto the open market and we therefore highly recommend any serious buyers make an early enquiry.

Location
This highly desirable SPAR business is located on Armada Way, the main shopping high street within the heart of Plymouth’s City Centre.

This SPAR is one of very few within the country to enjoy such a prominent high street trading position.

This is one of the most sought after trading positions within Plymouth with major High Street retail Brands and Banks including – Barclays, Nationwide, Superdrug, B & M Bargains, House of Fraser, Ted Baker as well the Armada Way Shopping Centre just 2 mins walk away.

Plymouths main Coach Station is less than 100 yards walk from the store as well key attractions such as the Theatre Royal, Plymouth Guildhall and Magistrates Court

There is an excellent choice of hotels which include the Copthorne, The Crown Plaza & the New Continental.

University of Plymouth is within 5 mins walk from the store which faces the City’s mainline train station.

There are customer parking facilities in the nearby Armada Way Shopping Centre.

Premises
300 Square metres – arranged over 3 floors.

Ground Floor (Fully connected intruder alarm system)–

Large open shopping space with designated bakery area, hot drinks and snacks to go area, grocery section, soft drinks, confectionery and large crisps section, frozen food area and large alcohol section for both wines and beers. The service counter with 2 x till points is positioned to the right side of the door entry.

Glass sided open fronted heated bakery display cabinet
Ambient, individual bakery baskets
2 x large, chilled display fridges
Row of tall, glass fronted display freezers
5 x open drinks chillers
Ice cream display freezer
Slush drinks machine
Fully automated self-serve coffee machine (currently leased)
Pizza oven (currently not used)
2 x EPOS Tills (currently leased from Spar)

First Floor –

Large area mainly used for storage (this is the same floor size at the ground floor)

Second Floor –

Includes staff area with toilets, Managers office, further storage areas including a large walk in chiller.

Bakery storage freezers (4 x large & 1 x small)
Bakery oven (cost of £10k)

Tenure
We are advised that the business is being sold on a Leasehold basis, with 4 years remaining on the 10 year lease. The rent is currently £4,166 per month and the business also has £0 rates payable.

Hours
The business is currently trading;

Monday – 07:00 – 23:00
Tuesday – 07:00 – 23:00
Wednesday – 07:00 – 23:00
Thursday – 07:00 – 23:00
Friday – 07:00 – 23:00
Saturday – 07:00 – 23:00
Sunday – 07:00 – 23:00

Staff
We are advised that the business has 4 full time and 6 part time members of staff.

Financial Profile
We are advised that as per the 2019 accounts, the business generated a turnover in the region of £1,040,000, with a gross profit in the region of £300,000. The business also has an adjusted net profit in the region of £57,000. Full financials can be made available upon further request.

Please quote reference B06040

Property Information

Property:

Leasehold

Contact Information

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