For Sale
Fish and Chip Shop With Substantial Accommodation
Lincoln, Lincolnshire
- Asking Price: £449,999
-
Turnover:
We are advised the turnover for the business is around £73,000 per annum, With a gross profit of 50%.
- Tenure: Freehold
Hilton Smythe are delighted to welcome to the market Chip Off The Old Block. This small fish and chip shop with large owner’s accommodation, has been established since 2003 when our client took ownership.
Our client is now looking to sell the business due to a well-deserved retirement. The owner has worked hard to build up the business and generates an advised turnover of around £73,000 per annum, with a gross profit of 50%
The chippy has an excellent reputation in the area, and has a very large amount of loyal customers, selling all the traditional fish and chip shop products, and also kebabs and pizza to take away. The business could increase revenue by offering a delivery service, to the surrounding area.
There is no competition nearby and the sellers have reduced their hours due to retirement but there is an option to open for more hours. There is an option for deliveries to increase income and there have been several new houses built in the area in the past couple of years which brings more custom.
The business comes with a very large owner’s accommodation, and comes with a substantial outer building which is suitable for development. The property is fitted with a Bio Mass Boiler which runs off waste pallets, and there is a storage area for the timber.
The opening hours for the business could be increased a lot, to attract more customers and boost takings. The property is large and the business could benefit from one of the rooms to be converted into a restaurant area.
There is also plans for 400 houses are being built in the area. This will increase the footfall in the area, and the business should benefit from an increase in customers. There is also a development across the road from the business.
This business is perfect for a family, with the large accommodation, and could benefit from the school close by. I highly advise early viewing to fully appreciate the extent of what’s included in the sale.
The business is run and managed by our client with the help of 3 part time members of staff.
Monday- Closed
Tuesday- 4:30pm-7pm
Wednesday- 4:00pm-7:30pm
Thursday- 11:30am-1:30pm & 4:30pm-7:30pm
Friday- 11:30am-1:30pm & 4:30pm-8pm
Saturday- 11:30am-1:30pm & 4:30pm-7:30pm
Sunday- Closed
Chip Off The Old Block is a fabulous fish and chip shop in the country village of Billinghay, Lincolnshire. Billinghay is a small village location with a population of around 2500.
The business is surrounded by houses and benefits from parking at the front of the property. Down the road is a pub and across the road is a car dealership and garage. Within the next 18 months 400 houses are being built in the area, thus boosting footfall and therefore increasing turnover.
The closest bus stop is a minute walk down the road, and heads in to Sleaford or in the other direction Blankney Barff. Lincolnshire city centre is a 25 minute drive away from the shop via A153.
The property has massive potential for development and the ground floor could be converted into a small restaurant with plenty of covers.
In this property is a small basement, used as a storage area.
The shop area comes fully equipped:
- Waiting area with seating
- 2 x pan range with extraction system
- S/S Service counter with 1 x till
- 2 x kebab machines
- 6 x pot Bain Marie.
- S/S prep table, Formica prep work counters
- Small freezer, Salad bar fridge unit and a 1 x door drinks chiller
- Upright fish fridge
- 3 x Upright fridges
- 2 x microwaves
- 2 x pizza ovens
- 2 x bowl commercial sink, 3 x s/s/ prep tables
- Exit door to rear yard.
- Hobart Chipper
- Cripto rumbler
- potato bins
- Large commercial sink
- Double counter top fryer
- 3 x chest freezers, 2 x small freezers.
- w/c with basin
The attractive owner’s accommodation is next door to the chippy, and is a reasonable size. Each room has been well decorated.
Ground floor of accommodation:
- Cellar access
- Large Dining room with bow window
- Bright lounge with open fireplace
- Fully fitted farmhouse kitchen, with dining area
- Bathroom with spa bath and shower over bath
- 4 x Double bedrooms
The owner’s accommodation comes with a drive at the side of the property, this leads to a vast gravelled yard at the back of the property with a large gated lawn area and summer house.
There is also an old stable block with this property and the original slaughter house, which could be converted in to a dwelling.
Tenure
We are advised that the business is Freehold
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Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83
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