Business for Sale in Poringland, Norfolk DIY & HOMEWARE STORE - PORINGLAND, NORFOLK

Key Information

Reference

D35321E

Tenure

Leasehold

Status

For Sale

Region

Norfolk

Sector

DIY and Hardware Stores

Rent Payable

£20,000 per annum with fixed increases in year 2 to £21,250 and £22,500 in year 3 with a formal rent review at the end of year 3. The purchaser will be responsible for the landlords costs and fees in connection with the assignment of or for the grant of a new lease.

Business Rates

Currently the business benefits from Small Business Rated Relief and so no Rates are at present payable. This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

Accommodation

No

Business Information

• Popular & Well Regarded Store
• Rapidly Expanding Large Village
• Key Cutting/Paint Mixing/Calor Stockist
• Strong Financial Performance
• Further Growth Areas to Capitalise On
• Excellent Location
• Large Site - 2 Buildings + Yard + Parking
• Small Plant Hire
• Extensive Product Range
• Contact Us for Further Details & Viewings

PARTICULARS

We are delighted to be appointed to bring to the market this excellent opportunity to acquire a highly regarded DIY and Homeware store set on a large site in a rapidly expanding large village on the outskirts of Norwich.

The business occupies a prominent position in the centre of the village and is very much part of the local community sponsoring events and groups. In return the business is well supported by the loyal customer base who appreciate the extensive range of products and services that are readily available saving them the need to travel into the city.

With an impressive financial performance but still with areas to further grow and develop the business this would be of appeal to a new owner operator with retail experience or to an existing store looking to acquire a further branch.

THE BUSINESS ITSELF

The store was established by the current owners in 2015 and is now only coming to the market due to the vendors pending retirement. They do however very much wish to see the business continue to grow and flourish and to continue to serve the needs of the local population.

The business offers many product lines and services including key cutting and paint mixing as well as being a Hobby Weld agent and Calor gas stockist. The main building stocks various homeware items much akin to a national DIY retailer but on a smaller size. The second building operates as a builders merchant serving both trade and public customers as well as providing a small plant hire service. Due to the size of the site and yard they are also able to offer a range of garden products and other external building materials and items.

They are currently part of the ‘Homehardware’ buying group which helps maximise margins on stock purchases as well as providing regular marketing materials and brochures. A new owner would not need to continue with this if they so wished however the owners have found this to have been of a benefit to the business.

PREMISES

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The site from which the business operates is a particular attractive benefit of what is on offer here and one which could possibly provide opportunity to expand what is provided if so required.

There is a wide frontage to the main road with a number of car parking spaces for customers and staff making the business very visible and easy to access. There are a two separate buildings side by side with a central driveway through to the large rear yard enabling stock deliveries to be easily unloaded.

The main building measures approximately 17m x 11m and is predominantly set out for retail space but also provides for a managers office and staff room/kitchen. Entered through double doors there are various display fittings and shelving together with a customer service counter with EPOS till point. Accessed to the rear via a wide metal external staircase there is a very useful and sizeable first floor storage area. The second building is around 10m x 7.5m and is open plan but fitted out with a range of display racks and shelving and service counter.

Externally to the front, in addition to the parking, is a small garden centre area as well as an area set aside for the plant hire. The rear yard is of a good size and provides plenty of room for storage and sales. There is a range of racking for timber and other materials as well as a large Nissen Hut for further storage. The buildings and site are alarmed and benefit from CCTV.

FURTHER INFORMATION

REFERENCE NUMBER

D35321E.

OPENING HOURS

8:00am to 5:30pm Monday to Saturday. Closed Sunday.

TENURE

Leasehold. We understand that there will be a new 5 year lease from June 2022.

RENT PAYABLE

£20,000 per annum with fixed increases in year 2 to £21,250 and £22,500 in year 3 with a formal rent review at the end of year 3.

The purchaser will be responsible for the landlords costs and fees in connection with the assignment of or for the grant of a new lease.

RATES PAYABLE

Currently the business benefits from Small Business Rated Relief and so no Rates are at present payable.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC

The Energy Performance Certificates for both buildings each show a ‘D’ Rating.

PRICE

£225,000.

For the benefit of the goodwill, fixtures, fittings & equipment as stated and for the assignment of the lease. Stock is payable in addition on completion at valuation currently estimated to be c.£130k. This is a business for sale as a going concern.

VIEWING

Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

FINANCE

Finance may be available to suitable purchasers.

BUSINESS TO SELL?

Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

PREMIER MARKETING

We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?

Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.