OPPORTUNITY TO ACQUIRE A CONVEINCE STORE BUSINESS ALONG WITH FREEHOLD RETAIL UNIT WITH UPPERS IN HERTFORDSHIRE REFERENCE (#CS0734)

LOCATION:
We are pleased to present this established Grocery / Off-License business located in Hertfordshire with NO COMPETITION NEARBY and easy timings, The location is a mix of residential areas and local amenities, offering easy access to green spaces and a well-connected transport network. Several bus routes provide access to other parts of Hertfordshire, ensuring steady foot traffic from both local and neighboring areas.

The property is situated on a prominent road, providing excellent visibility for retail businesses. Additionally, the train station is approximately 0.8 miles away, and the nearest bus stop is just 0.1 miles from the shop. With a mix of suburban living and urban conveniences, this location benefits from local shopping centers, schools, and ensuring frequent customer interactions.

Genuine retirement sale.

OVERVIEW:
This is a fantastic opportunity to acquire a well-established business with newly refurbished premises. The property includes a 2-bedroom flat above the shop, currently leased on an AST contract, with the potential for rent increases annually. The current owner has invested £200,000 in refurbishing the entire property to a high standard. The business comes fully furnished with modern essentials, including a brand new fridge, ample storage, CCTV cameras, an open cool display unit, counter, and more. Everything needed to continue running the business smoothly is already in place.

Turnover: Approx. £6,500 per week
Plus Lottery: £500 p.w

POTENTIAL:
There is significant potential for business growth. Currently, the store does not offer services such as Oyster, PayPoint, or other payment services. A new owner could introduce these services to increase revenue. Additionally, adding coffee machines, UPS parcel services, and phone repair kiosks would further enhance the business.
Additionally Fresh food and Vegetables can be added to the service as there is a space in the front of the shop.

Trading Hours:
- Monday to Friday: 7:30 AM - 7:00 PM
- Saturday & Sunday: 9:00 AM - 6:30 PM

ADDITIONAL POTENTIAL:
There is great potential to expand business hours as currently its vey easy working hours. The shop currently operates until 7:00 PM but is licensed to stay open until 11:00 PM. Extending the hours could tremendously boost turnover.

The surrounding area is experiencing growth, with new housing developments and a major tech company investing £1 Billion set to build in the next two years, which will drive more traffic to the area and create long-term opportunities for growth.

Rates:
- £1,200 per annum

Rent:
- The shop owner is the freeholder of the entire property and has rented out the two-bedroom above on an AST contract on a Guaranteed rent for £1300 per month which is under rented in our eyes and new owner can increase it £1600 per month or can be used as self contained or staff use.. The new owner has the option to lease the business, and in our opinion, the shop could be rented for £18500 per annum.
Together, The property can bring in total of approx. £35,000 per year in rent.

Another Potential: New owner can also built a loft on the top of the flat subject to planning permission) and can easily generate additional rent of £12000 per annum.

Tenure:
- Freehold.

SIZE:
- Shop size: Approx. 830 sqft

PRICE:
- The entire property (including the business goodwill) is available for £680,000, with the business that includes the shop, and the above 2 bedroom property.

For further information, please Skyline Commercial properties at 02045720717 or via email at [email protected]


Tenure: Freehold