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Business for sale in United Kingdom - Ak034-high quality department store & coffee shop

Asking Price: 2,550,000 £ Real Estate: Lease
Sales Revenue: 1,200,000 £
Net Profit: 180,000 £
Year Established: 1883
Employees: 10FT, 31PT
# of family members employed: Not Disclosed
Location criteria:
United Kingdom/London Borough of Hillingdon/London Borough of Hillingdon
United Kingdom/London Borough of Hillingdon/London Borough of Hillingdon

Business types:

Retail

Business categories:

Convenience Stores

Business description

This historical and well established department store has been part of the fabric of Porthmadog for over 125 years and in that time it has developed into a truly wonderful destination store for the town. With its high profile location and distinctive Victorian appearance the business draws in visitors from near and afar with many customers travelling significant distance to visit such is the quality of the offering. The owners, past and present have spent a great deal of time effort and resource on the design of this award-winning retail store to ensure that shopping is a thoroughly enjoyable leisure experience. Situated over 3 floors the presentation of the very wide range of stock is excellent. The store comprises the following layout: Ground Floor - Here you will find a vast selection of items in the Cookshop, Housewares and Outdoor Living departments. Among the leading brands stocked are: Denby, Brabantia, Addis, Meyer Prestige, T & G Woodware, Optima and Antler. First Floor- On the first floor you will find an array of Gifts, Photograph Frames, Greetings Cards, Stationery and Games. Leading Brands Stocked: Royal Worcester, Edinburgh Crystal, Liberty, Dartington Aynsley and Colony. Also on the first floor you will find the recently extended 82-seat coffee shop where customers can relax and unwind whilst making their purchasing decisions. The coffee shop provides a fine selection of home-made cakes, fresh sandwiches made to order and light lunches together with aromatic freshly ground coffee. Top Floor- Here you will find an interesting display of Lifestyle Decor Products including Lighting, Mirrors, Ironware, Flemish Tapestries, Bamboo & Rattan, Animals and Flowers. Leading Brands Stocked include: Alessi, Sia Parlane, Sabai Sabai, Jenny Worrall, Gallery Framing and Ruckley Still Water. Equipment: The business has a comprehensive state of the art EPOS system and computerised accounting system (CHARM).All fixtures and fittings including displays are of high quality and in excellent condition. The business also has a delivery van. Customer Service: The exceptionally high levels of customer service are best demonstrated by the number of letters of thanks and testimonials the business receives each and every year. This is further reflected in the very high levels of repeat business and referrals the business enjoys. Personal service is the key. Most customers stay loyal to this destination outlet whether they be local or visitors, such is the quality of its all round offering. Key Strengths: There are no other retailers of a similar nature or size in the area. In fact there are very few in the region who would be able to offer such a high quality environment and product range making this a truly wonderful shopping experience. This together with the excellent reputation, knowledgeable and friendly staff and levels of service sets this business apart. Other key strengths include: • Generations of loyal customers • Quality of staff and management team • Suppliers • Buying Power • Beautifully presented premises • Location Growth and Expansion: Such is reputation this business enjoys there is no reason why the “brand” could not be developed further with other outlets further afield. Furthermore there is no reason why the product range could not be expanded to cater for more areas of the traditional department store sector. The business has not really addressed e-commerce opportunities to date. This is a massive growth opportunity as is the proper development of the business’s customer database (circa 200,000 customers) The town this business serves is growing and also enjoys large numbers of visitors each year. A new railway line is due to open shortly that will only increase current footfall .

Additional information

Additional information: Not Disclosed
Support & training: The current owners would be happy to provide full training and support at handover
Reasons for selling: N/A
Financing available: Not Disclosed
Inventory / Stock value: Not Disclosed

Real Estate

Ownership: no
Lease: yes
Lease terms: Freehold value is circa £1.6Million. Rates are circa £16,500 p.a. The vendor would consider leasing the premises should a buyer not wish to purchase the freehold, subject to negotiation.
Location: The premises are ideally located on the main thoroughfare in the town and are highly visible from the road. The building itself is Victorian, full of character and is in an excellent state of repair. There is staff parking to the rear of the building and plenty of free parking close by. Total retail space is circa 12,000 square feet evenly split over 3 floors (with small office areas on the top floor). There is also further attic space that could be utilised if need be for storage. In addition to this there is a warehouse to the rear of the building providing circa 2000 square feet of storage space and a customer pick up point. Freehold value is circa £1.6Million. Rates are circa £16,500 p.a. The vendor would consider leasing the premises should a buyer not wish to purchase the freehold, subject to negotiation.

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