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Beautifully Presented High Turnover Convenience Store

Cheltenham, Gloucestershire

  • Asking Price: £72,000 +SAV
  • Turnover: The Village Store generates an advised current turnover of circa £550,000 per annum but the business continues to grow at an impressive pace. With a healthy gross profit over 24%
  • Tenure: Leasehold

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Hilton Smythe are pleased to have been given the opportunity to manage the sale of the Retail Industry Award Winning Village Store, which is a well-established business with a renowned reputation amongst local residents. This is a superb opportunity to take on a high turnover local business in an area that is teeming with customers and huge potential for continued growth.

The Village Store has been part of the local community for over 100 years. For nearly half of that it was owned by the same person, John Fogarty, who Enjoyed the annual visit of the Queen Mother for Cheltenham Race week.
The store was extensively renovated and re branded in August 2017 by the current owner with both the sales area and backrooms being re-laid and modernised. Sales and customer numbers continue to grow and should a new vendor wish, the village post office, (just 50 metres away) is closing (May 2019) and could be added to the store. Additionally, the Kings Arms across the road is being refitted and re branded during the summer and will bring additional footfall to the village centre.

The vendor has strived to provide the community with a well stocked, competitively priced and customer friendly store that is achieving gross margins in excess of 24%.
There is also an opportunity to rent the extensive three bedroom property above the store which has just become available with the same Landlord.

Alas the business is now to be sold, albeit reluctantly and with a heavy heart only so that the owner can pursue other business interests. He is keen to see his beloved business pass to an ambitious and entrepreneurial new owner who can take this already thriving business to the next level. It would suit an owner/s who would ideally like to immerse themselves into the local community.

The business is close to Cheltenham Race Course and during race meetings the turnover increases significantly as race goers stock up on hot food and beers wines and spirits. 

The Village Store is a well stocked, high turnover convenience store retailing a comprehensive range of products including;

• Newspapers and Magazines
• Tobacco and vaping products
• Confectionery
• Crisps and snacks
• Fresh bread and cakes
• Food to go
• Beers, wines and spirits
• Fruit and vegetables
• Meat and poultry
• Frozen foods
• Ice creams
• General groceries
• Household goods

The business sells scratch cards and has a Lotto terminal with sales of approximately £700 per week and increasing. The weekly news bill is approximately £250. 

The business prides itself on its range of products and relationships with local suppliers such as:

• Woodlands Farm Yoghurt
• Hayles Farm Juice
• Norths Bakery
• Fatherson Bakery
• Cotswold Fudge
• Gloucestershire Churned Butter
• The Cotswold Pudding Company
• Butcombe Beer
• Prescott Ales of Cheltenham
• Cotteswold Dairy
• Belvoir Drinks
• Cotswold Honey
• Miles West Country Tea and Coffee
• Cotswold Meringues
• The Outdoor Pig Company

The Post Office and Newsagents which is currently situated a few doors down from The Village Store is to cease trading imminently which will obviously have a significant effect on the turnover of The Village Store. 

Additionally, The Village Store incorporates a popular and well used Tea Room / Café which is becoming increasingly popular and is an ideal meeting venue for council meetings and church events as well as a number of clubs, such as a book club and knitting circle.

The Village Store has an impressive number of regular customers many of whom use the business on a daily basis and are known on a first name basis by the current owner.

The business enjoys good visibility on the internet with its own Facebook page and via sites such as www.yell.com, www.thomsonlocal.com and www.yelp.co.uk.

Scope to Improve

• Advertising and marketing campaign
• Extend the opening hours
• Expand the Café side of the business which really does offer massive scope.
• Introduce a delivery service, lots of older residents locally who would find this useful
• Introduce Payzone or Paypoint
• Look at outside catering, the business currently provides Pizzas for race goers at the nearby Cheltenham Race Course which has proved very successful.

Reasons to Buy

• A well-established business with an enviable reputation and many existing customers
• Immaculately presented and maintained
• All fixtures and fittings included making this a real ‘Turnkey’ opportunity
• The business is proud of its 5-star hygiene rating
• Ideal owner managed or partnership business
• Perfect trading position in the centre of the village
• Car parking immediately opposite
• Current owner happy to offer a handover to ensure the continued success
• Little or no competition locally (especially when the Post Office and Newsagents cease trading!)
• A “Lifestyle “business offering a new owner the opportunity to work in the lovely village of Prestbury.
• This really is a nice store and arguably one of the nicest to have come to the market for some time.

Hilton Smythe highly advise early viewing; this lovely business is likely to attract considerable interest.

The business is run and managed by our client and his Wife plus six part time members of staff.

Monday to Sunday 8.00am - 8.00pm

The Village Store is located in Prestbury near Cheltenham in Gloucestershire.

Prestbury is a village near the edge of the Cotswolds in Gloucestershire. It is on the outskirts of Cheltenham and forms part of the borough of Cheltenham, despite retaining its own parish council as a civil parish. It is part of the Tewkesbury parliamentary constituency. The parish of Prestbury had a population of 6,981 according to the 2011 census.

The village shops include two stores of which this is one. There is a doctors surgery, a Post Office, public library, two hairdressers, a pharmacy and a butcher.

The Kings Arms was the village’s main public house and is directly across the road from the business. It was here that the 19th century jockey Fred Archer grew up, his father being the landlord of the Pub. 

Tweney Retail is situated in a grade 2 listed building with half timbered walls and thatched roof.

The business is beautifully presented and maintained with clear visible signage and distinctive livery enhanced by lovely hanging baskets.

There is an inexpensive pay and display car park immediately opposite and a free shoppers car park a couple of minutes walk away further down the road

The Village Store occupies a semi detached, Grade 2 listed, half timbered building with a thatched roof, it is beautifully presented and maintained and briefly comprises;
Shop
Surprisingly generous store (193 sq.m) which has been refitted to the highest possible standard and cleverly designed to maximise the space available.

• Windows and half glazed door creating a light, airy and inviting interior
• Suspended ceiling with concealed LED lighting
• Bespoke counter in a beech effect
• Two EPOS tills
• Generous wrapping area with cigarette gantry and spirit shelving behind
• Vinyl non-slip flooring
• 2 glass topped freezers
• Glass fronted pies warmer
• Rijo Coffee machine
• Open drinks chiller
• Glass fronted drinks chiller
• Perspex Newspaper display and magazine racking
• Wicker bread display
• Long drinks chiller
• Long run of food freezers
• Perimeter shelving
• Central shelving gondolas
• Freestanding display stands
• Racking for sticking and tights.
• Café area with nice quality tables and chairs and a nice upmarket feel.

Kitchen

• Unox induction oven
• Stainless steel sink and drainer
• Perimeter shelving

Stockroom

• Perimeter shelving and floor storage space
• Hand wash basin with paper towel and soap dispenser

Warehouse

• Fluorescent lighting
• Perimeter shelving
• Floor storage space
• 3 chest freezers
• Glass topped freezer
• Beko upright fridge

Office

• Tiled floor
• Generous run of worktop perimeter shelving
• CCTV monitor
• Useful walk in store cupboard

Tenure
We are advised that The Village Store is being sold as a Leasehold business opportunity.

The existing lease has approximately 5 years remaining, and we are advised that the landlord is keen to see the premises continue to be used as a Village Store.

The rent is £16500 per annum which is really reasonable given the size and location of the premises.

We are advised the business rates payable are approximately £6157 Per Annum.

A substantial three bedroom property with parking is available above the store at an additional rent through the same landlord.

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