Convenience Store With Rental Flat & Shop
Walsall, West Midlands
- Asking Price: £199,999 +SAV
- Turnover: Mousehill Store generated a turnover of around £33,800 as of the 2016 accounts. Rental income-Sub-let shop £6,000 per annum inclusive of electricity and water bills.First floor flat £4,800 per annum excluding bills.
Leasehold Option Available £10,000 + SAV Hilton Smythe welcomes to the market Mousehill Store. The business was first established in the 1930’s and was taken over by our client in 1997. The store is well-established in this location and boasts an enviable reputation. The business runs as a convenience store offering a range of general groceries, confectionery, stationery, DIY products, wines, beers, spirits and tobacco. Mousehill Store generated a turnover of around £33,800 as of the 2016 accounts. We feel there is huge scope to massively increase this figure. The business has a large retail space which could be utilised further. The purchaser should look to offer more stock, such as adding newspapers, magazines, pet food plus fresh fruit and veg. The National Lottery, parcel collection and a delivery round should also be something the buyer also considers. There are low running costs for this property as it currently qualifies for small business rates relief. Also, included in the sale is a retail unit which is currently let out as a hair dressers and a separate flat which is tenanted. The shop generates an annual rent of £6,000 and the flat is let out for £4,800 per annum. There is also the option to transform the flat and shop into owner’s accommodation. This is a fantastic opportunity that is not to be missed. The business comes fully equipped and has immediate rental income. This would be a perfect purchase for a husband and wife team or partnership. Hilton Smythe highly advise early viewing to take in the full potential of the trade.
The business is run and managed by our client.
The business opening hours: - Monday - Saturday: 10:30am – 6pmSunday: Closed
Mousehill Store is located in Walsall, West Midlands. Mousehill is situated on a main road position close to open countryside but also neighbouring an upmarket area with a mix of residential properties; most of which are privately owned. The business receives much of its trade from the housing in the area as there is no or very little competition locally. Walsall is an industrial town just 8 miles north-west of Birmingham and 6 miles east of Wolverhampton. The borough reported a population of 269,323 in the 2011 census, boasting highly populated areas. The business is set just off a main road close to the A34 and A461. These are arterial A-roads that further connect to the M6 motorway network. As well as great road connections, the area also has generous public transport. There are bus stops a short walk away and the closest train station is a 10-minute drive away.
Mousehill Store occupies a prominent corner position with off road parking for at least six cars immediately to the front. The store boasts a period style brick built curved property. There are two windows at the front with a door in the centre, fitted with security grills. GROUND FLOOR ShopA generously proportioned shop which has been recently extended to offer more sales space. On entry is a bespoke counter this is glass fronted with generous wrapping area, shelving and cigarette gantry behind. The store has suspended ceiling with fluorescent lighting, 4 camera CCTV system and monitored alarm, perimeter shelving, freestanding carousel for hanging items, glass fronted drinks chiller and an upright silver fridge freezer. KitchenRange of light oak effect base and wall units, stainless steel sink and drainer, Biasi Rival Advance wall mounted boiler (new) and porcelain hand wash basin. There is a window to the side with a door to the cellar and rear yard. Sublet ShopTo the right-hand side of the shop is a further shop which is currently sub-let to a hairdressing business. This achieves a rent of £6,000 per annum inclusive of electricity and water. CellarThere is a useful cellar beneath the main shop which is dry, used for storage. FIRST FLOOR FlatThe first floor is accessed via its own entrance to the front. This is a one bedroom flat which is currently rented out and achieves a rent of £4,800 per annum excluding bills. EXTERNAL YardTo the rear is a secure yard.
We are advised the business is being sold as a Freehold opportunity. There is also a Leasehold option available for £10,000 + SAV.Rent: £7,200 per annum.Lease terms are negotiable with the purchaser.