Retail premises for sale in Ipswich, Suffolk IP2

£39,000
Retail premises for sale
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Property description

Business for sale: £.

  • Busy Residential Location
  • Post Office Local Counter
  • Over 1,200sqft of Retail Space plus Storage & Staff areas
  • Gross Retail Sales £559,279, Commissions £7,534
  • Post Office Renumeration £19,968


Description


A


Busy convenience store situated in a parade of shops in a residential
part of the town and incorporating a Post Office Local offering a range
of services. Trading from the ground floor of this purpose built
building with in excess of 1,200sqft of air conditioned retail space and
with the benefit of an alcohol licence, separate Post Office Local
counter, good sized store room incorporating a kitchen, managers office,
cloakroom and secure storage room.

Location

Stoke
Park Drive is a busy road leading round this popular residential area.
The neighbouring pharmacy and dentist help to bring business to the
store. Free car parking can be found directly in front and behind the
store and bus services are available in the immediate vicinity offering
good access for locals and visitors alike.

Area

Ipswich,
situated on the River Orwell, is the county town of Suffolk and has a
direct main line station giving access into London within the hour. A
popular and busy town whose local economy remains good with lots of new
commercial and residential developments in the area ensuring that the
local population remains strong.

Premises

The
business occupies a double unit of this single storey purpose built
property with an approximate 30ft glazed frontage. The well laid out
retail area is presented to a high standard and provides over 1,200sqft
of space with a range of wall and floor displays and shelving and
benefits from air conditioning, double glazing, a range of chilling
equipment, tiled floors, 2 point service counter with additional Post
Office Local counter. In addition to the rear is a good-sized storeroom
fitted with a range of racking, shelving and freezer complete with
separate kitchen, cloakroom, managers office, and a secure store room. (None of the appliances/systems have been tested and a purchaser must satisfy themselves at the serviceability of these.)

business

An
established business operated by Martin McColl's Ltd, operating as a
modern Convenience Store, retailing groceries, confectionery, snacks,
milk, beers, wines and spirits, soft drinks, ice creams, newspapers,
magazines, cigarettes, greetings cards and stationery. The business
benefits from being a National Lottery outlet and a Pay Point provider
as well as incorporating a Post Office Local counter offering a range of
services. The business also houses a cashpoint which customers access
externally to the property.

Trading hours

The business trades 6:00am to 10:00pm Monday through to Saturday and from 7:00am to 10:00pm on a Sunday.

Staff

A company owned store which is fully managed and whereby staff would be included in the sale.

Takings

Accounting
information provided in respect of the 52 weeks trading ending 30th
November 2019 confirms total Gross Retail Sales of £559,279 and £160,413
in respect of Services returning a Commission of £7,534. In addition to
this is Post Office Remuneration of £19,968.

Comments

The
sale of McColl's Stoke Park Drive provides an opportunity to acquire
well fitted and equipped retail premises enjoying an excellent trading
position within a busy residential area ensuring regular trade.

Tenure

Leasehold, current Lease running to 17th September 2024 and with a current rent of £15,500 per annum.

Rates

Approximately £9,449 per annum payable.

Price

£39,000
for the benefit of the Leasehold, Goodwill, Fixtures, Fittings &
Equipment (according to inventory) plus stock at valuation.

Note

As
this is a company disposal any sale will be subject to the attached
Terms & Conditions which interested parties should refer to.

Terms & conditions

Trading
information: Trading information has been supplied by McColl's Retail
Group plc and written confirmation is available on request.

Post
Office appointments: The transfer of a sub-post office appointment is
at the sole discretion of Post Office Ltd and contracts for the sale and
purchase of branches that have post offices attached will be subject to
the transfer of the appointment in favour of the purchaser or the
purchaser's nominee. The post office transfer process will commence as
soon as a conditional contract has been exchanged and in the first
instance, proposed purchasers will be required, at the vendor's own
discretion, to discuss their experience (if any) as a 'sub postmaster'
with an independent Post Office consultant - . If
deemed necessary by the vendor the purchaser will be required to submit
their Post Office application documents to and attend a
mock interview with the company's resident postmaster prior to making a
formal application to Post Office Ltd.

National Lottery and
other agencies: The transfer of a National Lottery agency is at the sole
discretion of the operator, Camelot Group plc, and could incur the
payment of a “bond” in those instances where the proposed transferee has
not previously operated a business on his/her own account. No proposed
sale and purchase shall be conditional upon the transfer of a National
Lottery agency, nor shall it be conditional upon any other agency or
service where the transfer of such agencies or services are at the sole
discretion of the grantor(s) i.e., atm, Premises Licence, Pay-Point,
Oyster etc.

Staff: It is possible that the vendor may wish to
retain the services of individual branch managers. However this is not
guaranteed and will be assessed on a case by case basis. As far as the
remaining personnel are concerned, the purchaser will be required to
offer continuity of employment in accordance with the Transfer of
Undertakings (Protection of Employment) Regulations.

Stock in
trade and news debts: The stock in trade at the individual branches will
be sold at valuation. The amount involved will vary from branch to
branch but can, within reason, be adjusted to a proposed purchaser's
requirements, given adequate notice. In those instances where a branch
provides a news delivery service, the purchaser will also be required to
purchase book debts - i.e., outstanding accounts to news delivery
customers in respect of goods and services supplied that remain unpaid
at the time of completion.

Trade fixtures, fittings &
equipment: The stores are offered for sale as going concerns to include
most of the fixtures, fittings and equipment but excluding any trading
name and signage relating to the vendor. The Epos scanning systems/tills
will not be included. The vendor will provide a list of Home News
Delivery (hnd) customers and debtors. An inventory listing for each
store will be made available once a sale has been agreed. In addition to
items owned by McColl's and included in the proposed sale, this will
also include items that are the property of suppliers and/or
manufacturers and proposed purchasers should make their own enquiries
with regard to the continuing use of these items.

Leasehold
requirements: It will be necessary to obtain landlord's consent to
assign individual leases to prospective purchasers. In some instances,
it may not be possible to assign the vendor's leasehold interest and in
such circumstances a transaction could proceed by grant of an under
lease on similar, if not identical, terms to the vendor's own lease. In
either event, purchasers will be required to supply Everett Masson &
Furby with references for the benefit of the vendor and its landlords.
The references should include 1) a bank or building society, 2) a
solicitor, 3) an accountant or other professional person or organisation,
4) past and/or present landlords and 5) a selection of recognised trade
suppliers. Where a proposed purchaser is already in business certified
accounts will be required in addition to references. In the event that a
purchaser has no previous retail experience, evidence will be required
to support their proposal to undertake their commitment to a fully
repairing and insuring lease with regular, long term rental payments. In
some cases, it may prove necessary for a purchaser to pay a rental
deposit, usually the equivalent of six to twelve months' rent. Please
note that the sale of a leasehold store is conditional upon landlord's
consent to assign or underlet the vendor's leasehold interest and
prospective purchasers shall enter into a conditional contract on this
basis.

Costs: Each party will be responsible for its own legal
costs but purchasers will also be responsible for the costs incurred by
the vendor and the landlord in respect of assignments or under-lettings
of the vendor's leasehold interests.

Deposits: Successful
bidders will be required to pay a non-refundable deposit to the vendor's
solicitor, via their own solicitor, equivalent to £5,000 per
transaction. The deposit will be set off against the agreed purchase
price on completion of a sale. In the unlikely event that the vendor
withdraws from a sale within the defined Purchase Period (see definition
below), deposits will be repaid in full. However, in the event that a
purchaser reneges on the agreed terms and conditions of a sale and
purchase, the deposit/s will be forfeited.

Timescale: The sale
and purchase of the subject business will be on a Subject to Contract
basis. Time will be of the essence in so far as the proposed purchaser
will be required to enter into a contract, albeit conditional upon
landlord's consent and, where appropriate, conditional upon the transfer
of a post office appointment, within a maximum of 21 days from the date
that draft documents are received by their solicitors. This 21 day
deadline is the Purchase Period referred to under “Deposits” above. The
purchaser should ensure that its solicitor is made aware of this
condition of sale and is capable of dealing with the vendor's standard
form of contract within the required timescale.

Viewing arrangements: Formal viewings will only be arranged after an acceptable offer has been made and by prior telephone appointment through the appropriate Everett Masson & Furby office. Discreet customer visits are encouraged but on no account should any direct approach be made to the vendor or any of it's staff.

While care is taken to ensure that these particulars are correct, accuracy is in no way guaranteed and none of the information supplied forms part of any contract. None of the appliances/systems have been tested and a purchaser must satisfy themselves at the serviceability of these. The information was approved as being accurate by the vendor at the commencement of marketing and an undertaking was given to advise em&F of any material changes that may occur. However, as all businesses are constantly evolving, the information may not be completely up to date. Prospective purchasers are therefore advised to undertake necessary and adequate enquiries to satisfy themselves of anything that is critical to their interest at the appropriate time.

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For more information about this property, please contact
Everett Masson & Furby, NR1 on +44 1603 963504 * (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 Everett Masson & Furby, and do not constitute property particulars. Please contact Everett Masson & Furby 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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