Sold
Village Convenience Store & Tea Room
Waterlooville, Hampshire
- Asking Price: £32,950 +SAV
- Turnover: The business generated a turnover in the region of £66,700 as of the 2016 accounts, with a gross profit of 38%.
- Tenure: Leasehold
CoGoGo welcomes to the market Lotts General Store. The business was originally established in the 1960’s, our client then took over the store in 2016. The owner looks to sell the business, due to the desire to focus on other interests. The business runs as a tea room and general store in a small village location. Trade is split 75% café sales and 25% shop sales. The shop offers an excellent variety of products from greetings cards, confectionery, groceries, flowers and plants, dairy products and homemade cakes. The store also offers extra services including dry-cleaning and parcel collection and drop off point. A newspaper delivery round is available to the area, this generates around £400 per month. The shop is very popular with the local parish members, receiving an enviable amount of repeat loyal trade. This is the hub of the community and is well-supported, guaranteed all year-round trade. The tea room offers hot and cold produce, serving all day breakfasts, sandwiches, pies, homemade soups, Sunday lunches as well as regular daily specials. The tea room is popular with cyclists, walkers and other visitors, with an increase in trade in the warmer summer months. Much trade is derived from mothers of the local school, who visit for breakfast. The Sunday lunches have proven to be a great hit. Our client now must take bookings, due to high demand. There are often full sittings of 12. The property hasn’t got an alcohol licence; however, customers can bring their own alcohol when dining at private parties or booked events. The business generated a turnover in the region of £66,700 as of the 2016 accounts, with a gross profit of 38%. We feel there is huge scope to boost this income. The purchaser should look to extend the seating area, using the rear storage area. Advertising could be further looked into, the business does have a Facebook page, which is regularly updated. An alcohol licence could further benefit the tea room and would allow for bistro nights. This is a fantastic opportunity that is not to be missed. The business would be an ideal purchase for a husband and wife team or partnership. CoGoGo highly advise early viewing to take in the full potential of the trade.
The business is run and managed by our clients, with the help of family and a part time member of staff.
The business opening hours: - Monday – Sunday: 10am – 4pm
Lotts General Store is located in Hambledon, Waterlooville, Hampshire. The business is situated in a great trading location amongst residential housing; from which the store receives much of its trade. This is a quaint location surrounded by rolling fields and picturesque housing. Lotts General Store is located in the village of Hambledon. The store is the only tea room in the village, allowing for a generous amount of repeat loyal trade. Hambledon has a population of 962 as of the 2011 census. There are about 400 households and only a handful of businesses. The village is known as Cradle of Cricket, as it is thought to be the home of one of the oldest cricket clubs, which was formed around 1750. The road on which the business is located connects to the A3, an arterial road that draws heavy footfall and passing trade. This road runs into Portsmouth and links to the national motorway networks. Within walking distance from the store are bus stops, these have regular daily routes into Waterlooville and Purbrook.
Lotts General Store boasts a prominent corner position. The property has an outside seating area for 12 covers and has excellent signage across the front. There are two large windows, this allows for a bright and airy retail space. On entry is the service counter, this is a glass fronted serve over chiller, used for displaying stock. Behind the counter is a cigarette gantry and shelving. The café area looks presentable, perfect for the trade. There are 12 covers inside with some bench seating. This is a traditional cafe with wooden screens and trellis to hide the rear storage areas. There is also access to the customer toilet. To the rear of the property is a fully fitted kitchen. All equipment included in the trade. Stairs from the ground floor lead up to the loft space. The loft is currently used for storage and has a separate office space for staff. Equipment included in the sale includes: -2 x electronic fan ovensMicrowaveToasterPanini grillCoffee percolatorDishwasherBaking and cooking utensilsCutleryCrockery TillGlass fronted chiller service counterGlass topped ice cream freezerTall glass fronted drinks fridge We are advised by our vendor, that there is potential for 15-20 parking spaces across from the café which our client has been offered.
Tenure
We are advised the business is being sold as a Leasehold opportunity. Original lease length: 3 yearsRemaining lease length: 2 years as of 2017. Rent: £3,120 per annum
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