Business for sale:
emf are delighted to be chosen to bring to the market this long established and very well presented Convenience Store and Post Office Local with the added benefit of a sizeable 4 bed duplex flat above, offering the new owner accommodation for their own use or to rent out separately to generate further income.
The busy location in the heart of the densely populated mixed residential and commercial suburb of Foleshill/Longford ensures a continual stream of customers plus it is only a short walk from the Coventry Arena. In our opinion no investment is needed in the shop or the residential property plus there is the benefit of private off road parking as well as on street parking to the front for customers. If you are looking for this type of business then this one really does tick all the boxes.
The business itself
The vendors have been successfully operating the business for over 20 years and have in that time taken great pride in ensuring the business continually evolves to meet current trends as well as in presenting the store in a modern, clean and welcoming style.
The business enjoys consistent net trading figures in the region of 275k p.a with the Post Office Local commission in addition of approximately 30k per year. The shop stocks an excellent range of quality convenience products as well as offering the Post Office services, Lotto, newspapers and greeting cards. The shop also benefits from a premises licence enabling them to sell alcohol from 5:00am to 11:00pm, seven days a week, meaning a new owner could extend their opening hours to maximise their turnover from this. In addition there is also an internal cash machine which helps to draw customers in.
The business is currently operated by the owners and they do not have any directly employed staff which gives full freedom to a new owner to operate with or without staff as they so wish.
all measurements are approximate and for guidance only.
As previously stated the premises are presented in excellent condition having been very well fitted out and maintained by the owners and this will be one of the big benefits to a new owner. The retail area measures approximately 8.5m x 8.1m (740sqft) and has been carefully laid out to maximise the range of products that can be stocked.
The range of quality fittings include good flooring, suspended ceiling with inset lighting panels and C.C.T.V throughout. There are 3 double sided display units, a refrigerated open fronted unit for drinks and fresh produce, an upright double door freezer, a further chest freezer, smart wall coverings and shelving, newspaper, magazine and greeting cards displays, an ice cream freezer and a separate alcohol refrigerated display unit.
Through a door to the rear stock room with racking for storage and doors through to a staff room with kitchenette, stairs down to the cellar, further doors to the office/post office store room, to the toilet and lastly to the rear yard. Overall this area measures 8.5m x 3.5m. The rear yard is accessed through a secure gate and driveway to the side and opens up to a good size area suitable for parking a number of vehicles. You will also find here the staircase leading up to the residential accommodation on the first floor.
all measurements are approximate and for guidance only.
The residential apartment is independently accessed via the rear yard enabling it to be let out separately from the shop and is again presented in good condition. The staircase leads up to a flat roof enclosed by railings which is currently used as outside space for the flat tenant. Entering into the hallway through the front door you will find a well fitted out kitchen with a range of base and wall units. There is also a good size lounge/diner, a large shower room with w.c and sink and two double bedrooms. An internal staircase leads up to the top floor converted loft space which provides 2 further double bedrooms and an additional shower room.
7:00am to 9:00pm Monday to Saturday. 8:00am to 8:00pm Sunday.
Leasehold. A new lease is to be granted on terms to be agreed between the parties.
25,000 per annum to include the residential accommodation as well as the commercial premises.
The purchaser will be responsible for the landlords costs and fees in connection with the grant of the new lease.
Currently the vendor does not pay any business rates as they are eligible for Small Business Rate Relief.
This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.
Full Energy Performance Certificate available on request.
For the benefit of the goodwill, fixtures, fittings & equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.
Strictly by appointment only, please call our Norwich Office on to make an appointment.
Finance may be available to suitable purchasers.
Business to sell?
Let us know as soon as possible! Just ask for a free no obligation valuation and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.
We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!
Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a free no obligation marketing appraisal of your business.
1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.