• ESTABLISHED COMMUNITY CONVENIENCE STORE
• CIRCA 380 SQFT PLUS STORE
• 2-BEDROOM OWNERS' ACCOMMODATION
• CONSISTENT TURNOVER AND PROFITS
• NEW SECURE LEASE
• ENERGY PERFORMANCE ASSET RATING 'D'
Established community stores with c. 380 sq ft of retail space and 3 bedroom attached owners accommodation. Consistent sales and profits. Long secure 18 year Lease (commenced October 2015).
Trescobeas Store occupies a prominent trading location on a residential estate, close to the popular harbour town of Falmouth. Falmouth has seen significant investment in recent years in its infrastructure, residential and commercial property and indeed the university, which has brought great prosperity and interest to the town.
The store operates as a community convenience store and comprises approximately 380 sqft of retail space and to the side and the rear of the property a further store. We understand the business has trading on this site since circa the 1950s, and has been in our client's tenure since 2006, trades 7 days a week between 7.00am and 10.00pm and is concerned with the sale of general groceries, has the benefit of the Lottery and Payzone and an alcohol licence.
We are advised the turnover is in the region of £300,000 (net of VAT), with a gross profit level of 22%. The business is to be sold with the benefit of a new Local Authority 18-year lease commenced October 2015, with a current passing rental of £5,500 for the first year, rising to £6,500 in the second year and £7,500 in the third year, then reverting to a regular 3-year rent review pattern; held on a Full Repairing and Insuring basis and which includes the addition of the adjacent 2-bedroom property.
7.3m (overall length) x 4.84m (average) and is of irregular shape plus further area 2.55m x 2.05m. A well-equipped retail area with tiled floor, window and door to front elevation. Fixed and freestanding shelving, Chiller cabinet, Tiller cabinet, fridge and freezer. Built in serving counter. To the rear of the shop is a staff WC.
From the rear door access into a cupboard area and in turn leading to a:
Attached and situated to the side of the property, front garden with central pathway leading to entrance of the property heading into:
4.84m x 3.72m, window and door to front elevation, feature fireplace through to:
4.98m x 2.48m, tiled floor, two windows and one door to rear elevation. Base units, central drainer unit, under stairs cupboard. Door to rear patio garden. Stairs ascending to first floor:
We are advised the turnover is in the region of £300,000 (net of VAT), with a gross profit level of 22%. The business is to be sold with the benefit of a new Local Authority 18-year lease commenced October 2015, with a current passing rental of £5,500 for the first year, rising to £6,500 in the second year and £7,500 in the third year, then reverting to a regular 3-year rent review pattern.
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