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Very Well-Established Independent Hardware Store

Sherborne, Dorset

  • Asking Price: £130,000 +SAV
  • Turnover: The business turned over £471,652 for the year to 31st March 2018 with a gross profit of £187,652 and a very healthy net profit of £57,257. We are advised that the current stock level at instruction is around £60,000.According to the VOA website the current rateable value is £29,750, with rates payable of £14,040 per annum.
  • Tenure: Leasehold

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Hilton Smythe welcomes to the market this very well-established independent hardware store with a fantastic turnover in excess of £470,000. The business is situated within a very large premises of over 260 sqm (nearly 3,000 square feet) and offers a very diverse range of products to include;• Kitchenware• Homeware• Hardware• Bedding/curtains/blinds• Pet care• Hand tools• Gardening equipment• Electrical supplies• Power tools• Paint• Key cuttingThe business are a member of Home Hardware, which is the largest voluntary organisation of its kind in the UK for independently owned hardware and DIY stores, which gives the shop great buying power. Even though this is a very successful and thriving business, improvements could still be made to take it to the next level, these include:• An updated website• Offering the opportunity of online sales• More promotion and advertising particularly on social media• Increasing the opening hours including opening Sunday’sThis really is a great opportunity for the discerning purchaser and an internal inspection is very highly recommended to understand the quality business and potential on offer.

The business is currently run by the owners, 1 full time and 3 part time members of staff.

Monday 8:30 am to 5:30 pmTuesday 8:30 am to 5:30 pmWednesday 8:30 am to 5:30 pmThursday 8:30 am to 5:30 pmFriday 8:30 am to 5:30 pmSaturday 8:30 am to 5:00 pmSunday Closed

Abbey décor is situated in the centre of Sherborne, a very pretty and popular village in Dorset. Sherborne is a market town and civil parish in north west Dorset, in South West England. It is sited on the River Yeo, on the edge of the Blackmore Vale, 6 miles east of Yeovil. The A30 road, which connects London to Penzance, runs through the town. In the 2011 census the population of Sherborne parish and the two electoral wards was 9,523.The business itself is very well established in the area, having been a hardware store since the 1970’s, with much repeat custom. It has been run by the current owners for more than 17 years, who are now looking towards a very well-earned retirement.

The premises occupy a great location in the centre of Sherborne and are spread over 2 floors (The upstairs was formerly a 1 bedroom flat, which could always be converted back if so desired) Being very spacious and amounting to approximately 261 sqm (nearly 3,000 square feet) The ground floor consists of:• Several separate show room areas• Small office• Kitchenette• Staff toilets• Key cutting room• Access to 2 large first floor storage roomsThe first floor is accessed via a central stairway from the main showroom and leads through to a further display showroom and then to a large staff kitchen, bathroom and good-sized sun deck with views.The business comes with fixtures and fittings to include:• Customer counter with 2 separate tills• 2 key cutting machines• Full computer system• CCTV• Display shelving• Racking An internal inspection is very highly recommended to appreciate what’s on offer.

Tenure
We are advised that the business is being sold as a Leasehold opportunity which has 7 years remaining and a break clause in 2 years. The rent payable is £31,250 per annum

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