Property Information
Address:
Leeds, West Yorkshire
Price: Property no longer available.
Size: SOA
Primary Category: Businesses For Sale
All Categories:
Businesses For Sale,
Property Ref/Movehut: MH527624
Property Ref/Agent: 13105-large-convenience-store-close-to-leeds-city-centre
*Please use the agent ref when calling the agent directly.
Property description
Hilton Smythe welcomes to the market Londis Wellington Hill. The store was established by our client in 2011. The owner has run this business to a high standard which is a perfect walk-in trading opportunity. The owner is now looking to sell the business due to the desire to focus on other interests.
The business runs as a large convenience store, selling a range of produce. The store offers extra services, such as Paypoint, Lottery and a free to use cash machine. These services generate an extra monthly income.
Products include:-
- Large selection of wines, spirits and beers
- Laundry and cleaning products
- Tinned food and baking goods
- Soft drink and confectionery
- Health and beauty products
- Frozen foods
- Fresh produce, dairy, eggs, meat, veg, fruit and bread
- Biscuits and chocolate
The store generates an excellent turnover of 1,250,000 as per 2015 accounts, with a gross profit of around 20%.
The turnover includes-
Pay point - 4,000 per week
Lottery - 1,500 per week
ATM free to use - 20 per month
This is a good turnover, with huge potential to be increased. The new owner could look to work hands on at the business, in order to reduce staffing costs.
This is an unopposed store due to the size of the property. Competitors in the past have been unable to compete with prices offered by this store. There is also a new housing estate coming to the area, this will increase footfall during the project and after building has been completed, custom should defiantly be boosted throughout the build.
The contract with the Londis is up for renewal. This could benefit the purchaser if the new owner was to go independent. This would then allow for a higher gross profit figure.
Above the store are two flats. These are currently let out separate from the business and could potentially be available to the purchaser to rent if required.
This is a fantastic leasehold opportunity that is not to be missed. The store is a substantial size and ready to run. Hilton Smythe highly advise early viewing to take in the full potential of the trade.TENUREWe are advised the business is being sold as a Leasehold opportunity.
Original lease length: 10 years
Remaining lease length: 5 years as of 2016.
Rent: 23,000 per annumHOURSThe business opening hours-
Monday - Sunday: 6:30am - 10pmSTAFFThe business is run and managed by our client, with the help of four part time and one full time members of staff.FINANCIAL PROFILEThe business generates a turnover in the region of 1,250,000 as per 2015 accounts.
Gross profit 20%
The turnover includes-
Pay point - 4000 per week
Lottery - 1500 per week
ATM free to use - 20 per month
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