For Sale
Reputable DIY Store For Sale
Wick, Caithness
- Asking Price: £49,995 +SAV
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Turnover:
We are advised the business generated a turnover of circa £210,000 as of 2021, further financial information can be made available upon request.
Please quote reference B06960
- Tenure: Leasehold
Please quote reference B06960
Hilton Smythe welcomes to the market an exciting opportunity to acquire (on a leasehold basis) an exceptionally well run and popular ironmongers’ business.
Birons Ironmonger’s has been under the careful and meticulous ownership of our client since 2011, building up an enviable reputation not just locally but within the industry in general, a true testament to the hard work and dedication from the current owner, resulting in the high calibre of business on offer. The business is now being offered for sale due to our client wishing to leave the industry after many successful years of trading as they look to retire in the near future.
Birons Ironmongers is Wicks traditional DIY shop providing everything from everyday essentials to speciality products for the home and garden. They supply a vast range of DIY goods along with picture framing and key cutting services in addition to the impressive overall stock within the business.
Our client took ownership of the business in 2011, and then expanded it in 2019 to what it has become today, with the business’s success being derived from the excellent personal customer service, knowing what product lines to stock, the availability and convenient location.
We feel there is scope to increase turnover with the undertaking of a robust marketing campaign via local press, social media, along with the further promotion of the dedicated website where customers can either click and collect or order for delivery, along with the introduction of some further products.
This is a highly desirable business with an excellent business model in place and would be a very attractive proposition for either an individual or partnership looking for their first business in this sector which is already established, or for an experienced operator looking for an additional business with an attractive income stream.
Our client has advised that a freehold option is also available at £219,995 + VAT.
A tremendous opportunity to own this well-established and popular business, with the current owner happy to offer a hand over period. Early enquiries are highly recommended to avoid disappointment.
The business is owner managed with the help of one full time and two part time very experienced staff
The business trading hours are:
Monday to Saturday - 09:00am - 17:00pm
Sunday - Closed
The business is situated in a prominent trading location on the busy and thriving Bridge Street in the popular Caithness town of Wick. The business is surrounded by a host of local independent businesses leading to a good level of footfall and passing trade.
The town centre boasts a number of local amenities including a Wetherspoons.
The Royal Burgh of Wick is the most northerly town on the East Coast of Caithness and is part of the North Coast 500 (NC500) tourist route. The town is well serviced in terms of local amenities, both recreational and retail with the town benefiting from stores such as Tesco’s, Boots, New Look, Superdrug, Argos, and B&M, further recreational include a popular golf course, squash club and public swimming pool/gymnasium. The town also has its own airport with links to Aberdeen and Edinburgh and has good rail and coach services to other parts of mainland Scotland.
There is plently of off road parking which is still free at the moment.
Also, the extremely popular NC500 passes right by the door.
The premises consist of two buildings, 20 Bridge Street that was bought early 2011 when they started the business and 22A that they purchased in 2019. Number 20 has an upstairs, ground floor and a basement, 22a has a ground floor and a basement, both properties benefit from an evidential quality sixteen camera CCTV system that can be viewed remotely and alarmed.
The Basement areas of the building has not had much done to it for the last century or more and could be used for future development plans.
There is also a dumb waiter electronic lift for moving stock between ground floor and first floor levels. At the rear of 22a basement there is a rear courtyard that could be developed for bringing on plants and this also acts as a fire escape.
The business can be found in true turnkey condition, leaving a new owner with very little to do in terms of capital investment in the property.
Tenure
We are advised the business is being sold on a leasehold basis, with the lease to be negotiated with our client. The rent is £10,000 per annum.
Our client has also advised that a freehold option is available at £219,995 + VAT.
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Representative Example
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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