£ 1300000 For Sale
Residential for sale
The property is freehold and is located in B66, a densely populated area of Birmingham and provides easy access to Junctions 1 and 2 of the M5 and the A38(M). Birmingham City Centre is also proximate. The area also offers a plethora of diverse local shops, amenities and leisure facilities. Major High Street brands operate on the locality ensuring an impressive footfall which has increased considerably over the years.
The building offers an impressive amount of retail and storage space together with four, two bedroom flats and a bedsit. When fully let, the residential portion of the property produces an income of approximately £27,000 p.a.
The building is of a traditional brick construction with a pitched roof. The floors are either concrete or timber and there are modern aluminium shopfronts to both frontages.
The property has the benefit of gas, water, electricity and drainage and the ground floor benefits from warm air heating.
The company is a local family owned business which has been established for many years. The business has an excellent reputation, an established knowledgeable team, effective management processes and a wide range of products which ensure the business consistently delivers excellent profitability.
The experienced team delivers expert advice based upon years of experience.
The wide range of competitively priced products and services and the expertise of the well trained staff ensures an excellent customer experience and consequently the store has developed into the preferred choice for customers around the Midlands
If the customer requires any products which are not in stock the business is able to order additional products in a timely manner.
Since its foundation the company has established itself as a friendly and professional provider of high-quality products, priding itself on always providing a consistent high level of customer service.
The company has established a significant customer base within the region and have consistently benefitted from high levels of repeat and referral custom.
Having developed the business over many years, the current owners are offering the business including the freehold property for sale as part of their retirement plans.
Post Completion – Handover and Training
As part of the sale price the existing owners will liaise with the new owner to ensure a successful handover and training plan to ensure the continuous smooth running of the business.
The customer service and reputation ensure that the business benefits from a continual stream of repeat and referral business. The level of service and reliability has ensured that it has maintained customer relationships since it’s early beginnings
Management and Staff
- The business is run by the owners and an excellent team. It operates effective proven management practices which continue to deliver excellent operational and financial performance.
- The company benefits from low staff turnover with a number of the employees having remained with the business for over 15 years.
- Having established strong internal processes and management framework the business could be absorbed into an existing organisation within the sector.
- The current workforce is capable of managing the day to day running of the business. The current business owners will work with the new business owner as appropriate to employ an additional manager and staff as required as part of the agreed handover plan.
Sales and Marketing
The business operates a website, which provides a comprehensive overview of the products available, alongside special offers, local news and contact information.
In addition to the website the business also utilises social media pages to promote its products and services and communicate with both existing and potential new customers.
The business works with a third party to further promote its services this includes regular leaflet drops.
The business benefits from a continual stream of repeat customers, referred customers and passing trade.
The owners would like to sell the business and all associated commercial property including the 5 upstairs flats on a freehold basis.
The Commercial floor space is circa 8,250 sq.ft.
The business opening hours are:
Monday to Saturday 9am to 6pm
Sunday 10am to 1pm
- The company could expand its current service offerings by adding additional products and updating some of the existing lines.
- The business could look to modify the existing website or bolt on a fully functional e-commerce website. This could attract new customers and potentially lead to broadening the company’s capabilities and market reach. The e-commerce site could increase product offerings significantly.
- This could be supported by a click and collect service reducing the company’s administrative efforts, provide staff efficiencies and so further reduce business costs further.
Benefits to the Purchaser
- A successful, established family business which has been trading for many years
- They have a proven record of achievement in today’s harsh retail environment
- Their team have proven expertise in their sector and have many years of loyal service
- Well maintained freehold property to include all commercial and residential space owned by the business and shareholders.
- The excellent purchasing processes in place have consistently delivered stable/ improving gross margin.
- The business has strong management accounting and reporting in place.
- Latest accounts to December 2018 demonstrate continued growth.
Key Financial Information
Freehold property valued at circa £900,000
Trade, Assets and goodwill of the business £400,000
Offers are invited
£871,111 2018 Results
£828,059 2017 Results
All mains services are connected.
Each party will pay their own legal costs