INDEPENDENT HARDWARE STORE CENTRAL BRIGHTON LOCATION SELF CONTAINED FLAT INCLUDED

This ideally located Hardware/Home store is located on a busy main road on the Brighton Hove border. There has been a hardware store located at the premises for 30 plus years, and has been under the current vendors’ stewardship for 8 years. The business now only comes to the market due to the vendor’s wish to retire.  During this time, they have developed an outstanding reputation for stocking an extensive catalogue of hardware and homeware supplies. The client base is mainly retail, and they stock a wide range of goods including DIY, gardening, electrical, wood, coal, storage, housewares, pet supplies, Ecover sales and refills, Incense and have a carpet cleaning machine for hire.  They also offer a key cutting service, which is regularly used by the local estate agents in the area. The vendor has also offered a handover for the purchaser following completion.

THE PREMISES: The hardware store is located on a bustling main road and benefits from a high footfall. It is located on the border of Brighton & Hove and is in a densely populated area and is located on several main bus routes which run through the city. There is street parking readily available for customers. The premises consist of a large retail space, with service counter which includes an EPOS, and display racking throughout, with a valuable range of stock, which seems to be well rotated.  Towards the rear of the premises are two additional retail spaces which are used for gardening and pet supplies. The premise also benefits from a large garden which is used to display flowers and other gardening items during the summer months and Christmas Trees during the Christmas season. On average the vendor will regularly sell over 120 Christmas trees during this period.  There is also a staff toilet located to the rear of the premises. The business also has the benefit of a forecourt which is ideal for displaying goods, especially seasonal items to entice passing trade. The premise also has two basements which is ideal for storage.  The premises are also fitted with CCTV and a fire alarm.

ACCOMMODATION: The spacious maisonette accommodation is well presented and consists of 3 large double bedrooms, a lounge diner, separate kitchen, family bathroom and separate WC. The accommodation has HMO status and is rented as such. The flat was recently refurbished with new carpets, kitchen, radiators and boiler being fitted.

TURNOVER: The business is currently averaging a weekly turnover of £3,000 per week. Full trading accounts can be made available to any bona fide purchaser. In addition to the turnover from the shop sales, there is also the rental income of £21,120 per annum from the HMO. The business currently trades Monday to Saturday 9am-5:30pm and 11am-2pm on Sunday.  The vendor works part time in the business with the assistance of 2 full time members of staff, therefore if the new owner were to work full time in the business you could significantly reduce the current wage bill.

TENURE: The entire premises are held on a 12-year full repairing and insuring lease at a current rental of £26,500 per annum with 4 yearly rent reviews. There is currently 9 years remaining on the lease.

RATES: We have been verbally informed that the business receives the benefit of the Small Business Rate Relief and the amount payable at the present time is £30 per annum. The rateable value for the property is £13,750 per annum.  Prospective occupiers should make their own enquiries to verify same.

GENERAL REMARKS: This business was personally inspected by the vendor’s sole agents who can thoroughly recommend this as being an extremely well-run professional business, which will produce sound profits.  Long standing business, with an excellent reputation. Ideally located on a busy main road,  surrounded by residential properties and on the main bus routes running through the city.

PRICE: We are instructed to quote for the lease, goodwill, equipment, trade fixtures and fittings £110,000 SAV (Stock estimated at £25,000)

LEGAL FEES:  Each party to be responsible for their own legal costs.

VIEWING: On no account should any approach be made to the staff without a prior appointment through the vendor’s sole agents, Watkins Commercial, Telephone: 01273 709090. 

ENERGY PERFORMANCE CERTIFICATE – The premises has been rated band E, the full report available upon request.

DISCLAIMER: Neither the Vendor nor the Agent gives or implies any warranty that the premises are fit for any particular use or that they comply with any relevant regulation or statutory requirement.

The agents have not tested any apparatus, equipment, fittings or services so cannot verify that they are in working order.  The buyer is advised to obtain verification from their solicitor or surveyor before proceeding with the purchase.

VAT:    All prices and rents are quoted exclusive of VAT.  Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.

MORTGAGE  & FINANCIAL PLANNING:  We shall be pleased to assist any purchaser in arranging finance to acquire this business or any other business you may be considering subject to status. 

Prop. Ref:        6750M

These particulars are believed to be correct but their accuracy is not guaranteed and they do not form any part of any contract

APPLICANTS CONFIDENTIALITY AGREEMENT

I understand and agree that any information regarding any business supplied to by Watkins Commercial will be kept strictly confidential.  I also undertake that I will:

i)                View businesses registered with Watkins Commercial by appointment only.

ii)               Not contact any owner, staff, suppliers, competitors or customers of any business registered with Watkins Commercial

iii)              Not pass on any information supplied by Watkins Commercial to any third party other than a professional advisor et. Bank, solicitor, surveyor accountant, etc.

iv)              Submit any offers direct to Watkins Commercial with whom I will conduct all negotiations

v)               Be liable for any commission which would have been due to Watkins Commercial should I be party to negotiations or actions which seek to preclude, or are contrary to the interest of Watkins Commercial