TV496 / Rightbiz
- TRADING ON EXISTING SITE FOR 20 YEARS
- CENTRE OF RESIDENTIAL AREA OF WINDSOR
- NEW 10 YEAR LEASE WITH OPTION FOR SELF-CONTAINED 1-BED FLAT ABOVE
- RENT ONLY £10,000 PER YEAR FOR THE SHOP
- OFF-LICENCE; LOTTERY; FREE PARKING
TRADING ON EXISTING SITE FOR 20 YEARS
IN A PARADE OF SHOPS REBUILT 2017
CENTRE OF RESIDENTIAL AREA OF WINDSOR
NEW 10 YEAR LEASE RENT £10,00 PER YEAR
OPTION TO INCLUDE SELF-CONTAINED 1-BED FLAT ABOVE
OFF-LICENCE; LOTTERY; FREE PARKING
Re-opened in August 2017, this established business operates primarily as a CTN (confectioner, tobacconist and newsagent) and a convenience store with a Lottery terminal. Established on the same site 20 years ago, the business also stocks a good selection of grocery and dairy items, soft drinks and greeting cards. An alcohol licence was granted November 2018 allowing off-licence trade to commence.
(all sizes are approximate & should be considered 'nominal'.)
The retail area measures 20'8"/6.3m wide x 23'8"/7.2m depth (488sq ft/45 sq m). There is a 32 sq ft/2.8sq m store-room to the rear plus a staff kitchen and WC facilities. A door to the rear opens into a small courtyard for deliveries.
(all sizes are approximate & should be considered 'nominal'.)
There is an option for the brand new, self-contained, one-bedroom flat above the shop to be included within the new lease the vendor will create for his buyer. Stairs lead up to
Spacious, double aspect, open plan living/dining room and kitchen: 17'10"/5.5m x 15'5"/4.7m (277sq ft/26sq m).
Bedroom: 11'10"/3.6m x 11'/3.3m (130 sq ft/12 sq m)
Fully-tiled bath/wc: 6'5"/2m x 6'2"/1.9m (40sq ft/4sq m)
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
There is ample free parking outside the shop
This popular CTN (confectioner/tobacconist/newsagent) is ideally located within an affluent residential area to the west of Windsor town centre off the main A308 towards Bray and Maidenhead and Junction 8/9 of the M4 motorway. Windsor is a town on the River Thames in southeast England, 21 miles to the west of Central London. Home to Windsor Castle, a residence of the British Royal Family it was built by William The Conqueror in the 11th century. The 1,000-year-old royal Castle, the largest and longest-occupied in Europe, has been extensively remodelled by subsequent monarchs. Today, the modern, affluent town of Windsor has a population of 32,000 predominantly fully-employed home-owners according to the 2011 Census. As a result of the Castle, Windsor is a popular tourist destination. According to the Office for National Statistics, around £441.8 million was spent on trips to Windsor and Maidenhead in 2017 by overnight and day visitors. Various boat trips operate on the River Thames, with connections to Maidenhead and Staines-upon-Thames. Near the town is Legoland Windsor, the only Legoland park in the United Kingdom and the largest Legoland park in the world in terms of area. Legoland Windsor was built on the site of the former Windsor Safari Park.
The business owner also owns the freehold title to the property and will offer his buyer a new, protected 10 year lease with opening rent of £10,000 per year within the terms of the Landlord & Tenant Act 1954. Therefore renewal rights will apply. Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord will ask for a rent deposit equal to 3 or 6 months dependent upon quality of references and status of the buyer.
The rateable value of the business premises is below the minimum threshold therefore zero rates are payable in 2018/19. The domestic accommodation falls into Band B for council tax purposes.
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.
We understand from the vendor that all main services are connected to the property.
Accounts inspected by Adams & CO show revenues for the year ended 31 March 2019 of £174,328 with gross profits of £59,411 (34%) and net profits of £32,368. This compares with revenues of £130,566 in 2018. These figures can be verified on site via daily, weekly, monthly or annual till "Z" reports. Please note the revenue figures quoted above exclude newspaper delivery charges paid by customers by Direct Debit of approx. £2,500 per quarter. Projected full year revenues of £10,000. All figures exclude VAT.
The vendor opens the shop as follows:
Mondayto Sunday: 06:00 to 1730.
However, the local authority have approved trading hours of 06:00 to 21:00 including the sale of alcohol for consumption off the premises.
Run by the owner and his family, there will be no employed staff remaining with this business after the sale other than the newspaper delivery boys.
The vendor informs us that the value of the stock varies between £8,000 and £10,000.
The vendor is asking £49,950 for the new lease, business goodwill, all-new fixtures, fittings and equipment, subject to inventory, plus stock at valuation.
Vendors and Buyers will each meet their own legal costs.
This is a reluctant sale. Having re-opened his shop after last summer's re-build, the vendor must now provide daily care for his wife due to her ill-health. The sale of this established neighbourhood shop has created an exciting opportunity for a new owner to exploit new off-licence sales and build on the solid foundations laid down over the past 25 plus years.
Detailed, up-to-date financial information will be made available to seriously interested purchasers when they have formally viewed the business. Viewing is by appointment only via this office.
Royal Borough Windsor Maidenhead Telno 01628 683800
First time buyers of a business may find this Government
information website Setting Up In Business helpful.
Potential buyers wishing to find out more about the surrounding areas are invited to 'search' under 'WINDSOR', where numerous sites are available for perusal, or specifically go to 'upmystreet.com' and use the post code 'SL4'.
If you wish to discuss this business opportunity in greater detail, or arrange an appointment, please call Nick on (023) 8025 3910
Leasehold Price: £49,950
Location: Windsor, Berkshire
Sector: Convenience Stores
- Town Centre location
- Established Business
- Fully Fitted
- Prime Location
- With Car Park
- Attractive Business
- New Lease
- With Accommodation
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