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Well Known and Respected Local Convenience Store

Shrewsbury, Shropshire

  • Asking Price: £109,995 +SAV
  • Turnover: Costcutter generates an advised current turnover of circa £10,500 per week or £546,000 per annum.
  • Tenure: Leasehold

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Hilton Smythe welcomes to the market, Costcutter.There has been a Convenience Store at this site since the 1960’s and the current owners have run it successfully and lucratively for the last three years, having invested considerable money into the business during their ownership ensuring that it is certainly one of the nicest businesses of this type in the area. The business is now being sold, albeit reluctantly and with a heavy heart only so that the owners can pursue other business interests. Costcutter is a well-established and well stocked business which really is the heart of the local community. The business has an impressive number of regular customers, many of whom use the business on a daily basis and are known on a first name basis by the current owners who well known and well respected locally.The business sells a varied range of products including;• Newspapers and Magazines • Tobacco and vaping products • Confectionery • Hot and cold drinks• Beer, cider, wines and spirits• Ice creams• Bread and cakes• Dairy products such as milk, cheese and butter• Crisps and snacks• General groceries • Frozen foods• Household cleaning products• Greeting cards and wrapping paper Additionally, the business has a Paypoint terminal with takings of approximately £1500 per week, a Lotto terminal with takings of circa £1500-£1800 per week and a weekly news bill of roughly £850. The business has 4 morning and three evening news rounds.Reasons to Buy:• A well-established business with an enviable reputation and many existing customers • Beautifully presented and much money has been spent making this a real turnkey business • Ideal owner managed or partnership business • There may be the possibility of renting living accommodation from the vendor• The current owners would be happy to offer a handover to ensure the continued success • Low running costs with inexpensive rent and no business rates • There is the possibility of including a Post Office Local. The current owners have been approached by the Post Office with a view to becoming a Post Office which would increase footfall and income significantly.Hilton Smythe highly advise early to avoid disappointment. This great business is likely to attract considerable interest.

The business is run and managed by our two clients with the help of one part time member of staff.

Monday to Friday 5 am – 9 pmSaturday 6 am – 9 pmSunday 6 am – 8 pm

Costcutter is located in Shrewsbury in the county of Shropshire.Shrewsbury is the county town of Shropshire. The town is on the River Severn and the 2011 census recorded a population of roughly 72,000. Located 9 miles east of the Welsh border, Shrewsbury serves as the commercial centre for Shropshire and Mid Wales with a retail output of over £299 million per year.The A5 and A49 trunk roads come together as the towns by-pass and five railway lines meet at Shrewsbury Railway Station. The town is located 150 miles north-west of London.Costcutter is perfectly positioned in the middle of a small but busy and vibrant shopping parade alongside other complimentary retail businesses such as a tearoom and a branch of Lloyd’s Bank and thus benefits from high footfall along with passing trade.The business is in a main road position in an area which is predominantly privately owned residential housing and is beautifully presented and maintained with clear visible signage and the distinctive Costcutter livery. There is free parking immediately outside the business premises.

Costcutter occupies the ground floor of an inner terraced retail unit. It is generously proportioned, beautifully presented and briefly comprises;Shop• Windows and glazed door to front creating a light, airy and inviting interior• Cleverly designed to maximise the space available with recently installed suspended ceiling with concealed Led lighting• Vinyl non-slip flooring• Bespoke counter with two EPOS tills, Card Machine, Paypoint and Lotto terminals and generous wrapping area, cigarette gantry beneath and spirits shelving behind.• Perimeter shelving and four central shelving gondolas• 2 long open wine chillers• Greeting card racking• Triple deck ice cream freezer• 2 double glass fronted upright food freezers• Lotto stand• Long open dairy chiller• Rijo coffee machine• Long open soft drinks chiller• Metal racking for crisps and snacks• Newspaper and magazine racking• 6 camera CCTV system and alarm system.Stock room • To the rear of the shop and running the width of the premises is a generous stockroom with perimeter shelving and floor storage space. There is a further stockroom to one side of the main stockroom with perimeter shelving and floor storage space.Office• With space for desk, chair and filing cabinets etc WC• Currently used for additional storage but easily reinstated with toilet and hand wash basinWC• With toilet and inset stainless steel hand wash basin.Externally• To the rear of the business is a generous and secure yard laid to concrete and with recently installed security gates to one end providing ample wheelie bin storage.

Tenure
The business is being sold as a Leasehold business opportunity. The vendors own the freehold but would be happy to negotiate a mutually acceptable lease with a new owner. A rent of £14,000 per annum is proposed which is reasonable given the size and location of the business premises.The freehold of the business premises may be available by separate negotiation with the price on application.We are advised that the business benefits from being exempt from business rates.

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