Retail premises for sale in High Street, Llanynech SY22

Guide price £55,000 (£55,000/sq. ft)
Retail premises for sale 1 sq. ft*
Interested in this property? Call +44 1691 721953 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

The location and premises


Llanymynech is a historic, sizeable village (2011 immediate population 1,675) and has a range of facilities including public houses, other shops, restaurant and hot food takeaways, navigable canal, football club, primary school, three medical practices within 2-3 miles, Church and nearby golf club The catchment is considerably wider and benefits from the passing traffic along the busy A483 linking Oswestry and Welshpool, and from the many other surrounding villages including a multitude of caravan sites.

The premises include the sales area with double display frontage of 995 sq.ft. / 92.48 m.sq. Net internal approximately, which also includes a small office area, and at the rear an additional store room of 86 sq.ft. / 7.95 m.sq. To the rear there is a small yard for bin storage, and separate lorry and vehicular servicing also takes place. The premises in our opinion are well fitted in general terms, and the Post Office facility takes up no valuable space, being simply situated on the main counter allowing servicing staff to operate it parallel to normal convenience sales.

The premises are leased, and the convenience store rental is £953.33 pcm, with the current owner also being exempt from payment of business rates.

The entire building comprises the convenience store on the ground floor, and on the first and second floors, two independent apartments which are currently let to tenants. Following the purchase of this leasehold business, the new owner may, if they so wish, approach the freeholder of the building if they might like to purchase the freehold interest. The current freeholder has confirmed that they may consider a sale of the freehold interest.


The business and expansion possibilities


A convenience store business which has been expanded and improved by the current owners who are now seeking to retire. There is also a useful Post Office income.

This convenience store is operated on an independent basis of the main groups, and caters for a wide range of food, drink (including on-licence for alcohol), toiletries, tobacco, confectionery, magazines and lottery sales. Whilst the shop has been refitted by the vendors, there are still areas in which further additional and modern fitting would improve the display of stock and allow for better merchandising, thereby increasing sales and inevitable profitability. The village has a number of takeaways, pubs and a recently opened fish and chip shop, many of which prefer payment by cash, and this convenience store business benefits from the village wide custom visiting for cash withdrawals, when there is the inevitable spin off sales.

The Post Office is within the category of ‘Post Office Local’. This particular branch is designed to be open at the same times as the shop trades, to allow for maximum convenience for the customer. It offers services including postage, banking, bill paying and free cash withdrawals (which illuminates the need for a atm). All of these services are designed to be incorporated into the workload of the shop staff, so no extra staff need be employed. In order to grow the Post Office commission, an owner would experience likely, natural annual growth, but can also apply for a larger Post Office or apply to manage Outreach Post Offices which are mobile services taken to village halls locally, and these are particularly profitable.

Retail turnover is currently averaging £7,278 per week, and in addition Post Office commission amount to an average £835 per month approximately.

In addition to potential expansion areas mentioned above, a purchaser might also look to:-

- Increase opening hours (currently these are: Monday – Friday 7am-9pm, Saturday 8am-9pm and Sunday 8am-4.30pm.
- If appropriate, introduce greater family involvement.
- Introduce more homemade products for which the vendors know that there is a strong demand, especially sandwiches, cakes and other baked items.
- Further fitting out, and expansion of Post Office services already mentioned above.


Terms of offer and current lease


This business is offered at a price on application to interested parties, and trading accounts will be provided to interested parties following a viewing.


Viewing


Strictly by appointment only through the selling agents – .

Note: Please retain the business as confidentially available at all times, especially if a viewing takes place during opening hours. Staff are aware that the business is being marketed, but customers are not necessarily aware, and the vendors would appreciate it is interested parties are therefore discreet, and maintain confidentiality during viewings.


Business rates


We understand from viewing the Valuation Office Agency web site that the Rateable Value is £9,300. Interested parties should contact the Local Authority (Montgomeryshire Council) to establish the current rates payable, as we believe concessions may apply.


EPC


An EPC has been commissioned and will be available shortly.

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Celt Rowlands & Co, SY11 on +44 1691 721953 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Celt Rowlands & Co, and do not constitute property particulars. Please contact Celt Rowlands & Co 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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