Retail premises for sale in Kidlington, England, United Kingdom OX5

Ref 7632 – Leasehold Fishing Tackle & Bait Retailer
Blacks Brokers are pleased to bring to the market this leasehold fishing tackle & bait retailer located in Kidlington, Oxfordshire.

Introduction

The business was initially established in this bustling area of Kidlington in 1996 and was taken over by our client and rebranded as Ace Tackle & Bait in 2016. The business offers a wide range of fishing tackle and bait as well as offering advice, tips and guidance for fishing in the local areas. 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 good 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 and Facebook.

Location

Ace Tackle & Bait occupies a prominent trading position within a busy shopping centre. The area is densely populated commercially with neighbouring businesses including independent retailers as well as large multiples such as Costa, The Coop, Tesco and many more. There are also a number of banks, pubs and other local amenities nearby including a busy Post Office. The area is well linked by the M40, A44 and A34 with very strong public transport links and free 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 plans, 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 five year lease which began in 2019 with a rent review in 2022 at a cost of £183 per week. There is also a service charge of 2.77% paid by everybody in the centre. The landlord is open to granting a longer lease should a purchase require this.

Staff

The business operates with our client in full time employment supported by two members of staff.

Financial details

Ace Tackle & Bait has traded solidly since opening and our client has established a strong repeat customer base. Accounts for year ending 28th February 2022 show annual turnover of £191,408 and a Gross profit of £48,522. Turnover From 28/02/22 to 28/02/2023 £208,611.91. Full financial information is available upon request.

Business rates

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 thriving area of Kidlington. 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 a website with e-Commerce and a strong marketing drive to extend the reach of the business. This proposition would ideally suit an owner operating team with a good knowledge of the fishing trade who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £159,950.

Please quote ref: 7632