Established Eastern European Supermarket in Prime Coastal Town Centre Location

Silas is a well-established Eastern European supermarket prominently situated within the centre of Littlehampton, West Sussex. The business benefits from an established local customer base, supported by a strong Eastern European community, an increasing resident population, and seasonal tourist trade associated with the town’s popular coastal location. Littlehampton town centre enjoys a vibrant independent retail sector, which is considered particularly favourable for specialist food operators and helps support ongoing trading demand. The business offers a wide-ranging selection of products sourced from Lithuania, Poland, Russia, Latvia, Romania, Bulgaria and the United Kingdom, including an extensive range of fresh and frozen food lines as well as confectionery and alcohol. Having traded from the premises for a considerable period, the business has built a strong local reputation and benefits from regular repeat custom. The business has also developed notable online goodwill, reflected in 5.0-star reviews on Facebook and approximately 4.4 stars on Google Reviews.

THE PREMISES: Occupying a strong and established High Street trading position, the store benefits from consistent all-year-round footfall, with a notable uplift during the busy summer season. Customer convenience is further enhanced by the availability of nearby street parking together with a public car park, supporting ease of access and regular passing trade. The premises are fitted and equipped to suit the current business operation, with the retail area comprising fixed shelving and display racking, upright refrigerated display units, and a deli counter with adjoining food preparation space and meat slicer positioned towards the rear. Beyond the retail area is a substantial stockroom incorporating office accommodation, together with several chest freezers and a walk-in chiller, confirmed to be in working order at the time of inspection. The premises also includes a garage which is located at the rear of premises and is currently used for storage. The property also benefits from the installation of CCTV throughout.

TURNOVER: The business is currently fully managed, with a staffing structure consisting of two full-time staff members. The business currently operates seven days per week between the hours of 10:00am and 8:00pm. We are informed that the current average turnover is approximately £7,400 per week.

ALCOHOL LICENCE:  The premises benefit from a Premises Licence permitting the retail sale of alcohol. The Premises Licence number is 10082 and permits the sale of alcohol between 8:00am and 10:00pm, seven days per week.

TENURE: The premises are held on a full repairing and insuring lease, which has approximately 6 years unexpired at a current rent of £14,000, per annum.

RATES: We have been verbally informed that the rateable value is £562.25 and the rates payable are £17,500 per annum.  Prospective occupiers should make their own enquiries to verify the 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 a good standard. The opportunity benefits from secure leasehold tenure and represents an established business with a strong trading history. Ideally located in a busy area within Littlehampton which benefits from high footfall.

PRICE: We are instructed to quote for the lease, goodwill, equipment, trade fixtures and fittings Price reduction. - Price reduction £44,950  SAV (Stock valued estimated at £20,000)

LEGAL FEES:  Each party is responsible for their own legal costs. The purchaser to pay for half of the landlord’s 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:        6945G

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