Retail premises for sale in Liverpool Road, Newcastle-Under-Lyme ST5

Ref 7482 – Leasehold Bed & Furniture Centre
Blacks Brokers are pleased to bring to the market this leasehold bed and furniture located in Newcastle-under-Lyme, Staffordshire.

Introduction

Forty Winks Bed Centre was established by our client in this busy area of Newcastle-under-Lyme in 2011. The business offers a wide range of beds, mattresses and bedroom furniture. It has become very well known in this area and has a strong base of regular customers in place as well as benefitting 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. Forty Winks Bed Centre has a basic website in place with scope to introduce online sales which would see a drastic increase in turnover.

Location

Forty Winks Bed Centre occupies a main road trading position within a parade of shops and offices. The area is densely populated residentially as well as commercially with neighbouring businesses including independent retailers as well as large multiples such as Subway and Bargain Booze. There are also a number of local amenities nearby including schools, colleges and supermarkets. The area is well linked by the M6 and A34 with very strong public transport links and parking is available immediately outside.

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. The current lease is a six year lease which began in 2017 at a cost of £803 per week.

Staff

The business operates with three members of staff in employment supporting our client working in a managerial role on a full time basis.

Financial details

Forty Winks Bed Centre has traded solidly since opening and our client has established a strong repeat customer base. Accounts for year ending 30th April 2021 show annual turnover of £306,180 and gross profit of £142,336. Full financial information is available upon request.

Business rates

The business has a rateable value of £11,000. Purchasers should enquire with relevant local authorities to confirm the rates payable.

Summary

This long established business occupies an enviable trading position in a highly sought after and busy area of Newcastle-under-Lyme. 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 to include late nights. A new owner could also expand the website to include online sales and create a new social media presence with strong marketing campaign, the current owner advises there is much demand for this and it would see a massive increase in turnover. 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: £59,995.

Please quote ref: 7482