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Listed
31/07/22
Status
For Sale
Tenure
Freehold
Fleetgate Hardware, 127 High Street, Barton-upon-Humber, North Lincolnshire DN18 See map

Details

HARDWARE STORE in Barton-upon-Humber for Sale. Established back in 1991 and quite simply a vital part of this south of the Humber community. The hardware store stocks everything from a ball of string to timber and is often referred to as the Aladdin's Cave by locals. Filled to the ceilings over two floors and crammed into every available space are tools, paints, plumbing parts, garden and DIY products. You name it, they are likely to have it. This valuable freehold property and superbly performing business will undoubtedly attract a colossal amount of interest. The business has enjoyed somewhat of a monopoly for decades and has been the regions one stop shop for successive generations of families and tradespeople. This is a retirement sale and a fantastic opportunity for fresh blood to take the reins and add e-commerce and social media facets to the business. Weekly sales in excess of £13,000 and the adjusted Net Profit for the year to 30th September 2021 was £144,000. This is a phenomenally well performing business and is for the most part run by staff now. Highly prominent corner building at the head of a crossroads in the town centre of Barton-upon-Humber, North Lincolnshire. The building spans over approximately 380 square metres (over 4,000 square feet) over two floors. The ground floor has all the stock on display and includes an external covered area for displaying larger items such as wheelbarrows, bins and such like. This area is secured overnight with security roller shutters. From the main sales floor there is a long sales counter and short steps leading up to an area dedicated to timber sales. Further steps lead up to the first floor where most of the surplus stock is kept. Manager’s office and staff WC. This is immediately evident given the size of the property, the quality of the business and the market share it enjoys. The business and property is offered at the very realistic price of £500,000 for the Freehold interest, plus stock at valuation of approximately £60,000. Alternatively, our clients are prepared to consider a Lease To Buy option at £150,000 for the ingoing premium (to include a 10 year lease and the business goodwill, fixtures, fittings and equipment), plus rental payments of £31,200 per annum going forward for the next 10 years and used toward the total Freehold purchase (at market value at any point of purchase during the 10 year term). Again, plus stock at cost valuation. Rarely do we witness such accommodating options offered on such a superbly performing business and property.

Map

Hardware, Household & DIY

ID:

587240

Price

£495,000

Call 0113 238 2900 to request a viewing

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