Fantastic Indoor Market Hall & 3 Bed Flat

Birmingham, West Midlands
Freehold Price:
£624,995
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
192073
Reference
5576 / RightBiz

Details

    Established Since 1991

    Annual Turnover £45,240 with a Potential of £74,880

    Three Bedroom Accommodation

    Capacity For More Stalls

    Retirement Sale

    EPC - Not Required

Description:
REF 5576 – Freehold Indoor Market Hall & Accommodation

Blacks Business Brokers are proud to bring to the market this freehold indoor market hall with accommodation located in the much sought after area of Weoley Castle, Birmingham.

INTRODUCTION
Weoley Castle Market Hall has been trading since 1991 and during that time, the business has firmly established itself within the local community and has gained a large, loyal customer base and reputation.

LOCATION
Weoley Castle is a popular, residential area in South-West Birmingham. The area is well populated and is home to many local businesses, schools and parks. It is well linked to the M5 motorway and other busy commuter routes in and out of Birmingham City Centre.

REASON FOR SALE
Weoley Castle Market Hall is only being offered for sale due to retirement.

BUILDING LAYOUT AND DESIGN
This exceptional market hall overlooks the urban village green, next to Lloyds bank, betting shops and a post office. the stalls are rented to a hairdressers, mobile phone repair shop, caribbean grocers, takeaway, nail bar, grocers, children's clothing store, and the owner operates a large stall retailing cards and gifts, household goods, tools and pet food, and would be looking to continue renting this stall from a new owner.
There is room to add 2 large and 2 small stalls which could generate an additional income of £570pw bringing the potential turnover to £74,800 when fully let.
The property has a large three shop frontage with 2 entrances. Inside, the large hall is split into twelve market stalls, a café and ladies and gents toilets. Externally, the delivery bay and yard area is positioned to the side of the property with bollards on approach and space for two vehicles. On the first floor of the property is a large, three bedroom accommodation. This is currently empty, could be used as an owners accommodation or let out at an estimated £600 per calendar month.

STAFF
There are currently no staff in employment at this business, it is owned by our two clients and the stalls are rented out to small independent businesses such as grocers etc. These rentals are what generate the £30,000 a year income for our clients.

FINANCIAL DETAILS
Financial details are available upon a viewing of the business which has traded solidly over its trading history. The business generates an annual turnover of £30,000.

SUMMARY
This is a fantastic opportunity for a new owner to acquire a large and well known market hall and accommodation in a superb location. This proposition would ideally suit an owner operating team or similar business that could push the business forward and build upon the solid and impressive trading foundations. Early meetings with our client are strongly advised.

First floor reached by internal staircase with access from side of the property.
3 Bedrooms
Lounge
Kitchen - Diner
Pantry
Bathroom
WC


Fixtures & Fittings:
External & Internal CCTV
Roller Shutters To Front - Electrical


Opening Hours:
MON & TUE: 09:00 - 17:00WED: 09:00 - 13:30THU - SAT: 09:00 - 17:00SUN: CLOSED


Weekly Rent:
Freehold - Rent Not Applicable.
Listing Details
Freehold Price: £624,995
Tenure: Freehold
Sector: Convenience Stores
Financials
Annual Turnover: £45,240
Energy Performance Certificate (EPC)
Map
Street View
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