WINE MERCHANTS & OFF LICENCE CENTRAL HOVE LOCATION EAST SUSSEX

Located on a bustling parade of shops near Hove railway station, this thriving independent wine merchants enjoys a prime position with high footfall. Just a short walk from Hove Park and the upcoming Goldstone Development, including newly completed Hove Gardens apartments which is providing homes for 600 people. With the continued development of Ellen Street and Conway Street under discussion including Hove Gardens Phase 2 (Bus Depot Car Park), this business is ideally situated to attract both residents and commuters. Specializing in fine wines, artisan spirits, and selected Sussex beers & ciders, this well-established business has cultivated a loyal customer base. In addition to its curated beverage selection, it offers a range of crisps and artisan confectionery, making it a convenient stop for shoppers and travellers alike. For an entrepreneurial owner-operator, this is a turnkey opportunity with immediate revenue potential. The vendors are selling to focus on other ventures, creating a rare chance to step into a fully operational business with substantial room for growth and a fantastic network of suppliers and vineyards in England, Spain, France and Italy. There’s significant potential to expand the product range by introducing new lines such as tobacco and convenience goods, as well as offering local delivery services to further boost sales and customer reach. This is a fantastic investment opportunity to acquire a successful business in a highly desirable location, with the bonus of being positioned to capitalize on the area’s ongoing development and growing population.

THE PREMISES: The off licence and wine store is located in Goldstone Villas, which is a few minutes’ walk to Hove’s mainline railway station. On entering the premise there is a large serve over counter on your left with shelving and up right chiller displays units which contain soft drinks, wine, beers and ciders. Towards the rear of the retail space is also a small office. The off licence also has the benefit of a large basement which is used as a stockroom and includes the staff toilet and kitchenette. The basement also has large shutter doors to the rear allowing for easy access for deliveries. The store has the benefit from on street parking in the surrounding areas.

TURNOVER: The store is run by the vendors and the current opening hours are Tuesday 3pm-9pm, Wednesday-Saturday 11am-9pm and 11am-8pm on Sunday. Details of the turnover will be shared with any bona fide purchaser.

ALCOHOL LICENCE: licence number - 1445/3/2018/00137/LAPRET. Permitted to sell alcohol every day from 8am-11pm Monday-Saturday and 10am-10:03pm on Sundays, for consumption off the premises.

TENURE:  The premises are held on a new 15-year full repairing and insuring, at a current rent of £15,000 per annum.  Rent reviews are due to take place every 5 years.  The tenant only break clause can be activated at any time after the first five years of the lease, by serving the landlord with 6 months written notice.

RATES: The business receives the benefit of the Small Business Rate Relief and the amount payable at the present time is zero. The rateable value for the property is £11,750 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 and presented business. Fantastic location in Hove on a buoyant parade of shops. Secure new lease. The premises licence has no conditions applied.

PRICE: We are instructed to quote for shares of the limited company, which will include the lease, goodwill, premise licence, equipment, trade fixtures and fittings £120,000. SAV (stock estimated at £70,000 and residual capital reserves of £10,000)

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 property has a rating of a band D – full report available on 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:         6829G

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.