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Popular Cycle Retail and Repair Business in Hove For Sale

Hove, East Sussex

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Sold

£136,000 +SAV

Ref: 2859 J

Freehold

Overview

Hilton Smythe is delighted to welcome to the market this popular and busy cycle retail and repair business in Hove, East Sussex. The business was originally established in 1947 and has been in our clients’ careful ownership since 1992. Only now is the business being offered to the market due to our clients’ desire for a well-deserved retirement. The business operates 6 days per week and generates a turnover in the region of £60,000 per annum, with a gross profit of approximately 50%. Our clients’ offer a wide range of new and used cycles for both children and adults, as well as accessories and spare parts, including tyres, inner tubes, cables, locks and helmets, to name a few. Our clients’ are agents for Probike, Python and Land Rover Cycles and also undertake bicycle repairs and servicing on the premises, to exceptional standards. The business has built up an enviable reputation within the area for the high quality of goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations. We feel the turnover could be increased by extending the opening hours, perhaps by offering Sunday trading. A new owner could also embark on a modest marketing campaign to highlight the goods and service offered. There is already a website in place that would benefit from being updated, perhaps by offering online ordering facilities. This is an excellent opportunity for a new owner to take this already thriving business to the next level; therefore early viewing must come highly recommended to avoid disappointment.

Turnover
The business generates a turnover in the region of £60,000 per annum, with a gross profit of approximately 50%.

The business is owner run and managed.

The business operates: Monday – Tuesday: 9.00am – 5.00pmWednesday: 9.00am – 2.00pmThursday – Saturday: 9.00am – 5.00pmSunday: Closed

Webbs Cycles occupies substantial ground floor premises, ideally located on the very busy Boundary Road in Hove, East Sussex. The property is surrounded by a wealth of complimentary shops and businesses, with a popular supermarket directly opposite, therefore the cycle shop benefits from a high volume of footfall and passing trade. The business further benefits from free on-street parking facilities within the immediate area. Hove lies on the South coast and is immediately West of the town of Brighton. Hove and Brighton are joined into a single conurbation, which as a whole has city status. Hove is a nineteenth century resort and is home to many examples of Regency and Victorian architecture, tree lined avenues and wide boulevards. The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. Portslade railway station is just one minutes’ walk away. The area is also well served by the A-roads, with the A270, A293 and A2038 all being within easy driving distance, which link up to the national A-road and motorway networks. Brighton is approximately 3½ miles away and Worthing is 8 miles away.

Substantial double fronted retail premises in an ideal trading location, briefly comprising: Main sales and display area with:Serve over counter with electronic cash register and credit/debit card terminal.Cycle displays to both sides of sales area.Perimeter wall displays for accessories. Rear repair workshop.Kitchen area. External with: Lock-up cycle storage unit.WC.

Tenure
We are advised Freehold.

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