Retail premises for sale in Newport, Gwent NP19

£60,000
Retail premises for sale
Interested in this property? Call +44 1772 913303 * or Request Details

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Property features

  • Superbly located convenience store showing year on year growth
  • Income 2018 in excess of £237,000 ebitda Excess £33,000
  • Located in a prime location within Nweport, main road route, passing trade
  • Recent shop refurbishment to a high standard, 1 bedroom apartment included (needs minor renovation)

Property description

Reference - 47480

Description
This is an opportunity to purchase a business set close to the centre of Newport in South Wales, an area currently undergoing major development.. Lifestyle Express convenience store occupies a prominent trading location being on the main Corporation Road. This large, dual aspect terraced property sits on the main route into town

The site offers excellent scope for the seasoned business owner to expand upon the success and hard work that the current owners have achieved. Due to its current location and size, the store may also be of interest to corporates wanting to acquire a site in this area. Owned by the current vendors for the last 25 years, prior to this, the stores has been in the area for over 50 years and has grown and developed with the area around it. Currently there is a little competition in the area. The vendor has taken a business that was virtually non-existent and turned this around to see what we have today, a success story growing annually with excellent profits.
Newport is a large town just inside the boarder with England offering easy access into Wales and close enough to the M4 Motorway with connections to the main M5 Motorway.

The store is licensed for alcohol sales, cigarettes and a whole host of household goods in addition to everyday groceries, including fresh and frozen products, cold food and hot and cold drinks, convenience products tined products, cards, magazines and newspapers. The store does not offer newspaper delivery rounds but there is some demand for this from the locals. In addition the store offers Paypoint and the National Lottery and extend current trading hours, all can increase the already increasing turnover.

The business resides in a leasehold basis, the freehold is owned by our vendor, this double fronted lock up store has a main selling floorspace of some 800 sq ft (expandable) In addition there is owners accommodation to the first floor. This however cannot be sub leased as it can only be accessed from

Sales
To be discussed in full with the vendor to any interested party upon viewing.
Current year sales are in excess of £237,000 net with an ebitda in excess of £33,000

Accounts
Current records and accounts can be inspected after viewing.

Trading Hours
Monday – Saturday 07:00 – 21:00
Sunday 08:00 – 13:00 then 17:00 to 21:00

Staff
Operated by the owners with 1 part time staff.

Building Internal
Lifestyle Express occupies a dual aspect building in a parade of properties with the whole of the ground floor being utilised for business premises. The floor above, is included as a residential apartment for the owners of the business only.
The shop benefits from its location being located on the main A road through the town and has plenty of free on street parking spaces to the front of the store.
The main access is from the centre of the store front which provides excellent access into the bright and visible interior. The frontage is powder coated aluminium The single door access provides in out traffic with ease. The property is of standard construction being brick/render sitting under a tiled roof the door entrance which opens up into the main store. The counter area is located to the right of the store.
The property has been professionally refitted and refurbished a few years ago. This refurbishment offers a tiled floor, suspended ceiling complete with specialist LED lighting, aircon and full CCTV.

The store is bright and fitted with an array of modern shelfing and display stands. Within the displays are fridges and freezers for products too Alcohol and cigarettes is to the rear and right of the main till area. To the rear of the store is a large store room, a large store room and an area for staff toilet. There is also a doorway leading to the upstairs apartment.
The store room has some racking Scope remains to possibly opening up these areas to provide an additional 200 sq ft of sales area.
The store benefits from CCTV and an alarm system.
The store also benefits from a new shutter system recently.

Inventory
The store comes with a spacious 1 bedroom apartment which can only be directly accessed from the store. Due to this it cannot be leased out on a sub let basis and is defined as owner/manager accommodation. The staircase leads up and enters directly into the large living room, complete with laminate flooring. A set of 3 steps leads off this area to the kitchen area, although compact it is fully fitted with wall and base units, work surfaces, fridge/freezer oven and hob cooker and microwave, the flooring again being laminated. Beyond the kitchen is access to the family bathroom fitted with a 3 piece white bath suite, the room is ¾ tiled and laminate flooring.
Returning back to the living room is another doorway into the large double bedroom again with laminate flooring. Some minor remedial work/decoration may be required in the apartment.

Tenure
The vendors own the property and will grant a new Fri lease (subject to contract) for a minimum period of 5 years at an initial rent of £16,000 for the store and apartment exclusive of rates. Rent reviews are at 2 yearly intervals.
We are further advised that the business benefits from zero rates payable.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.

Summary
The Lifestyle express store represents an ideal opportunity for a new or seasoned business owner, lifestyle client, or corporate owner to acquire a business in a unique position with exceptional Potential in a desired location offering excellent scope to develop further.
The business represents an ideal opportunity and demand is expected to be exceptionally high, therefore early viewing is a must


Share/asset sale


The business is owned by a limited company. However the vendor has no preference for either an asset sale plus goodwill or a full share sale. The sale price quoted above is based on the assumption that:

On or before completion, the vendor will have withdrawn all cash from the company and paid off all bank debts and any money owed to the Inland Revenue, but not any trade creditors; the quoted sale price does not include the stock in the business, the value of which, following a stock-take, will be added to the agreed sale price. The estimated stock level is in the region of some £20,000

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For more information about this property, please contact
Kings Business Transfer, PR2 on +44 1772 913303 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Kings Business Transfer, and do not constitute property particulars. Please contact Kings Business Transfer for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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