Property Information
Address:
Kingston Upon Hull, East Riding Of Yorkshire
Price: Property no longer available.
Size: SOA
Primary Category: Businesses For Sale
All Categories:
Businesses For Sale,
Property Ref/Movehut: MH507469
Property Ref/Agent: 2994-large-convenience-store-with-two-self-contained-flats
*Please use the agent ref when calling the agent directly.
Property description
Hilton Smythe is delighted to welcome to the market M + M's Convenience Store. The store was originally established in the 1980's and was taken over by our client in 1989. Our client has run the store for a very long time and has thoroughly enjoyed owning this successful store in a welcoming community. However our client is now looking to sell the business due to the desire to take a well-deserved retirement.
The store runs as a general convenience store and an off licence selling a fantastic range of products. The business sells household products, confectionary, alcohol, cigarettes, magazines, newspapers, pet products and more.
The business is currently generating a healthy turnover of approximately 885,000 per annum, with a gross profit of 20%. This is brilliant but the store is also a lottery agent and offers a Paypoint.
These generate an extra income of-
Paypoint- 12,000 per week
Lottery- 6,000 per week
News sheets- 700 per week
These are exceptional figures however we feel turnover could be boosted further by opening later hours and by offering a paper delivery round to the local area.
The store also has planning permission for an extension to the rear of the property. This extra space would be fantastic for increasing stock levels and therefore there should be an increase in sales. There is little competition in this area which allows the store to benefit from high trade and repeat loyal custom.
Above the store are 2 self-contained flats which have separate external access. One of the flats is 2 bedroomed which would be perfect as owner's accommodation.
The other is one bedroomed and would generate a fantastic rental income.
This is a fantastic opportunity for an experienced husband and wife team. Hilton Smythe highly advise early viewing to avoid missing out on this highly profitable convenience store.TENUREWe are advised the business is freehold.HOURSThe business is open-
Monday - Saturday: 6am - 8:30pm
Sunday: 7am - 8:30pmSTAFFThe business is run and managed by our client with the help of 6 part time members of staff.
The staff bill is approximately 1,000 per week.FINANCIAL PROFILEThe business generates a turnover in the region of 885,000 per annum.
With a gross profit of around 20%
Paypoint- 624,000 per annum
Lottery- 312,000 per annum
News sheets- 36,400 per annum
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