• Attractive and popular licensed convenience store in the charming village of Milton, within the rural Ross-shire countryside of the Highlands of Scotland.
• Superb central village trading location providing an essential service to the local community generating a brisk trade from the sale of a wide range of convenience goods and varied services.
• Extending to circa 85m2 with a spacious retail area supported by 2 store rooms, an office and staff facilities.
• Simple business model trading to a high level of turnover producing sound profitability (£54,600 as at 31st March 2020).
• Spacious external areas offering ample parking for deliveries / customers plus outside sitting area.
Milton Stores is an attractive and easy-to-operate business in a prominent position within a rural village setting. Set in the heart of the village of Milton, the original subjects date to the mid-1970s. Internally the shop extends to about 85m2, contains large refrigerated and freezer storage cabinets and a flexible range of free-standing shelving units which effectively display products to customers. A spacious sales counter with rear cigarette merchandising plus fully automated epos till system is located to the front of the store. This location provides an ergonomic and secure focal point for serving customers efficiently. Ample stock storage is located to the rear of the shop and in addition there is an office and staff facilities.
Situated in an area renowned for its natural beauty, the business benefits from a high level of year-round trade from local inhabitants, with some tourist trade in the summer months; the shop is at the heart of the community providing a positive service. The business has a solid reputation locally. This retail unit is the only convenience store within the village, providing a wide selection of essentials to the broader community. Sale items include fresh produce, general grocery items, licensed goods and cigarettes, bakery lines, soft drinks, etc. Other income streams are the Lottery, Pay Point services and, parcel pick-up and drop-off facilities. There is a cash machine within the shop. The store also provides lpg gas cylinders. To the front of the store are 3 benches which encourages people to take lunch and a takeaway coffee from the store. The present configuration makes it an easy-to-operate business. Internally the sales area is well laid out utilising a modern range of shelving units and display stands. The shop also has a good range of refrigeration and freezer units. The sales counter is ideally situated for security next to the main entrance. The fully automated epos system aids stock management and accounting records. The shop has a CCTV system which aids security. The business is supported by adequate storage rooms and facilities.
The business does not have its own website and this could be an area of business development. The store does however have its own Facebook page.
Milton Stores trades to a solid and sustainable level of turnover and profitability with the last 2 years figures being:
As at 31st March 2020 2019
Turnover £390,063 £347,564
Adjusted Net Profit £54,600 £44,944
The business trades as follows:
Monday to Friday - 8:30am to 9:00pm
Saturday - 9:00am to 9:00pm
Sunday - 10:00am to 4:00pm
The current owners work full-time within the business but also employ 2 part-time staff.
Milton village is situated by Kildary approximately 6 miles north of Invergordon and 7 miles south of Tain and just off the A9 which forms part of the North Coast 500 Tourist Route. The village offers its own primary school, village pub (currently closed) and community centre. Secondary school pupils are bused to Invergordon Academy. Invergordon and Tain benefit from a wide selection of local amenities and welfare services plus both towns have good recreational facilities. Other centres of population such as Inverness, Dingwall and Alness are all within commuting distance. Milton Stores sits centrally to this popular community which has a population of circa 600. Recreationally the broader area boasts a number of sandy beaches at Balintore, Portmahomack and Dornoch. There are also a range of top-quality golf courses in the area including Tain and the world famous Royal Dornoch. In addition, there are a great number of places of general interest such as distilleries, castles etc. The area is renowned for its sea life and the Firths and coastal areas are home to seals, minke whales and the ever-popular dolphins. Water sports and fishing are highly popular pass times in the region, as are field sports.
Reason for sale
The present owners purchased the property in 2001 and it is now their desire to retire that brings this exciting business and lifestyle opportunity on to the market.
This modern property dates from the mid-1970s, of insulated double-skin block construction with rendering and under a pitched tiled roof to the rear aspects and sheet metal box profile roof to the front elements. The business is arranged over the ground floor only. Access is gained from a concrete slab path leading from the main road ensuring ease of access.
The business has a prominent roadside location in the village with a modern and well-signed frontage. There is ample parking to the rear and side of the shop. Internally the business is well-presented utilising a good range of flexible fixtures and fittings, including free-standing displays and refrigeration and freezer units. The main sales counter is on the right towards the front of the unit, immediately inside the main entrance, providing sensible control of the sales area and facilitating good customer service. The office is set to the left-hand side of the unit and the storage areas are located to the rear of the customer areas adjacent to a rear door which facilitates ease of deliveries. There is a staff washroom.
There is no owner's accommodation with this sale.
The business has a prominent roadside position with parking for 6 cars to the rear and side plus there is unrestricted on-road parking; combined, these parking facilities meet customer needs. Externally, there is a secure gas bottle cage. Within the grounds is an area set with 3 picnic benches which are popular during the warmer months.
The property benefits from mains electricity, water and drainage. The shop is illuminated by ample sunlight through large windows to the front aspects and ceiling windows plus strip-lighting. The shop has an alarm system and CCTV with security being supplemented by roller shutters to the front of the store. There is external floodlighting.
Lease heads of terms
Ingoing Premium: £25,000.
Rent: £15,000 p.a.
Rent Payments: Quarterly in advance
Rent Reviews: Every Five years in line with rpi
Lease Duration: 12 Years
Lease Type: Full Repairing and Insuring; landlord to take out insurance and lessee bears the cost.
Stock at Cost: Stock at valuation; paid within 14 days.
Purchase Option: Option to purchase Freehold