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Established Hardware Store

Luton, Bedfordshire

  • Asking Price: £240,000 +SAV
  • Turnover: R & L Burgess Hardware generated an advised turnover of �214,566 as of the 2018 accounts, with a gross profit of �95,562 and a net profit of �66,917
  • Tenure: Freehold/Leasehold

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Hilton Smythe welcomes to the market R & L Burgess a family run business established in 1966 and owned by our clients, who are now looking to retire, since 1980.

The store is a general hardware store, which has a little more than you would expect as they also sell the following lines:

� General DIY
� Key Cutting
� Tools
� Painting equipment and paints
� Gardening equipment
� Kitchen equipment
� General cleaning products
� Electrical
� Main agent for Flo gas
� Pet foods
� Pet goods
� Plants
� Greeting cards and balloons
� Wool

There is a large local customer base with many repeat customers known by name. Due to its location, on a main local shopping parade in a highly populated residential area there is a high footfall throughout the day. The business has 5* reviews on Google and 192.com

R & L Burgess is a profitable business, however, there is room for further development.

� Open Wednesday afternoons or Sundays
� Add more key cutting equipment, as this brings in the highest profit line
� Create a website
� Operate on social media page

Hilton Smythe highly advise early viewing to avoid disappointment.

The business is run and managed by our client, with the help of part time staff.

The business opening hours:

Monday: 8.00 am � 5.30 pm
Tuesday: 8.00 am � 5.30 pm
Wednesday: 8.00 am � 1.00 pm
Thursday: 8.00 am � 5.30 pm
Friday: 8.00 am � 5.30 pm
Saturday: 8.00 am � 5.30 pm
Sunday: Closed

The store could be open all day Wednesday and also Sundays to increase turnover

R & L Burgess Hardware is a hardware store which has been in our client�s ownership since 1980 and a hardware store since the premises was built in 1966, which is located in a local parade of shops in the middle of a large residential area in Luton, Bedfordshire.

The parade of 15 shops includes a post office, Tesco local, pharmacy amongst others. There is free parking up to 2 hours in a large car park directly outside the premises. Next to the car park is a bus terminal and bottle bank, all bringing in a large amount of footfall to the area.

There is a large car park to the front of the shop and a large pavement with an overhang form the flat above, which gives a covered area for the display of goods outside.

The double fronted shop has many aisles of shelving etc displaying a large range of goods.
The service counter is set half way through the shop to the right, behind which are 5 key cutting machines, key display hooks and the till.

To the rear of the shop is a door which leads to a small store room which in turn leads to the kitchen/toilet and another door leads out to the main storage area.

A large covered storage area, formally the courtyard, with plenty of racking and storage. From here is a door to the outside compound for Flo gas storage. There is further racking here and a door to the outside.

Tenure
We are advised the business is being sold either as a Leasehold or Freehold business opportunity.

If sold as freehold this would also include the Freehold for the flat above which is owned by another party who pays �15 per annum ground rent. The Lease on the flat above is circa 70 years.

As our clients are the Freeholders, they will be looking to negotiate the length of the lease, the annual rent will be �15,000

Our clients have informed us that they do not pay business rates on the premises.

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