Well Established Convenience Store in High Footfall Location Near Portslade Station

An excellent opportunity to acquire a well-established convenience store situated in a densely populated area of Portslade. The business benefits from strong pedestrian footfall throughout the year and is conveniently located close to the local train station, which helps generate a consistent flow of passing trade. Originally established in 2008, the business has built up a loyal customer base and strong presence within the local community. The store has been under the current vendor’s ownership for the past three years and now comes to the market due to the vendor’s wish to relocate. The surrounding area is home to a variety of retail and catering businesses, creating a busy and thriving high street that serves the needs of local residents. The store operates as a multi-purpose convenience outlet offering a wide and comprehensive product range, including dried and fresh groceries, tobacco, newspapers, lottery, alcohol, e-cigarettes, household items and seasonal products. In addition, the business works with Deliveroo, providing a growing delivery revenue stream and offering further scope for expansion and increased trade.

THE PREMISES: The business occupies a large double-fronted unit on a busy high street in Portslade, benefiting from strong footfall throughout the year. The convenience store also benefits from on-street parking, as well as a nearby supermarket car park located just a few minutes’ walk away.

The premises were fully refurbished in March 2020 and are offered to the market with a comprehensive range of quality trade fixtures and fittings. The retail area provides a spacious trading environment with several central display gondolas, a modern service counter positioned at the front of the store, attractive wine and spirit display shelving, modern lighting, multiple upright chiller and frozen food display cabinets, and additional upright drinks chillers located throughout the shop floor. To the rear of the premises is a storeroom with shelving, along with access to staff WC facilities fitted with a wash hand basin and an office. The business further benefits from a very large additional storeroom located above the shop, which offers a similar floor capacity to the ground floor. For security, CCTV has been installed throughout the ground floor, and the premises are fitted with metal shutters at the front of the building. PLEASE NOTE: The costa coffee machine is not owned by the vendor.

TURNOVER: The business is currently fully managed, with a staffing structure consisting of four full-time staff members. Typically, one staff member operates the premises at any one time, with an additional staff member assisting when deliveries are received. The business trades 24 hours a day, seven days a week, providing continuous service to customers. We are informed that the current average turnover is approximately £16,000 per week, with projections indicating this could increase to around £20,000 per week as the summer season approaches.

ALCOHOL LICENCE: 1445/3/2021/00469/LAPRET – Permission for the sale of retail alcohol of the premises 24 hours every day.

 TENURE: The premises are held on a full repairing and insuring lease, which has approximately 2 years unexpired at a current rent of £37,000 plus VAT, per annum.

RATES: We have been verbally informed that the rateable value is £31,500 and the rates payable are £7,800 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 confirm that the entire premises are fitted and equipped to an excellent standard. The opportunity benefits from secure leasehold tenure and represents an established business with a strong trading history and high turnover. Ideally located in a busy area with consistently high footfall, the premises are well positioned to attract passing trade throughout the day. Early inspections are highly recommended to fully appreciate the potential this opportunity offers.

PRICE:  We are instructed to quote for the lease, goodwill, equipment, trade fixtures and fittings £185,000 SAV (Stock valued estimated at £60,000)

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:  Our client has been informed an EPC should be made available for this property. 

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:         6938G

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