Retail premises for sale in Manchester, England, United Kingdom M12

Ref 7415 – Leasehold Bicycle Sales & Repair Business
Blacks Brokers are pleased to bring to the market this leasehold bicycle sales and repair business located in Manchester.

Introduction

Ugo Cycles was established by our client in this busy area of Manchester in 1995. The business offers both repairs and sales with a diverse collection of bicycles from mountain bikes to bmx's and Scooters on offer. It has become very well known in this sector and local area and has a strong base of regular customers in place. The business also benefits from a huge amount of passing trade due to this excellent trading position. Our client has ensured the business has an excellent reputation and superb reviews are noted on Google. Ugo Cycles has a comprehensive website in place.

Location

Ugo Cycles occupies a main road trading position within a parade of shops and offices. The area is densely populated commercially with neighbouring businesses including independent retailers and large multiples such as Asda. There are also a number of local amenities nearby including schools and parks. The area is well linked by the M60 with very strong public transport links and parking is available in the immediate area.

Reason for sale

The business is ideally suited to a hands-on owner-operator but due to our client’s retirement, the business is offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

Lease

The building is available on a Full Repair and Insure lease (Fri lease). This is the most common form of commercial lease. A new five year lease is available for a new owner and this will run at a cost of £196 per week with break clause at three years.

Staff

The business operates with one full time member of staff in employment supporting our client working on a full time basis.

Financial details

Ugo Cycles has traded solidly since opening and our client has established a strong repeat customer base. Accounts Available Year End 31st March 2021Annual Turnover (Year end 2021) £163,060, Gross Profit (Year end 2021) £65,889. Full financial information is available upon request.

Business rates

The business currently benefits from Small Business Rates Relief. Purchasers should enquire with relevant local authorities to confirm the rates payable.

Summary

This well known and long established business occupies an enviable trading position in a busy area of Manchester. Our client has secured a strong customer base and exceptional reputation. There is plenty of scope to develop the business further with the introduction of new product lines and longer opening hours, possibly a collection and drop off service where appropriate. A new owner could also benefit from a strong online marketing drive, possibly with the use of a new social media presence. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £44,950.

Please quote ref: 7415